Global Food Safety Testing Market: Key Highlights
Global Food Safety Testing Market: Key Market Dynamics
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Global Food Safety Testing Market: Regional Overview
Europeis anticipated to dominate theglobal food safety testing market owing to high disease prevalence of food-related allergies among consumers. This can beattributed to an increasingreliance on safety testing procedures. Moreover, enforcement of stringent regulator norms in the region has anticipated to drive the market growth. For instance, the food safety standards such as EU Reference Laboratories (EURLs), Reference Laboratories (NRLs), and Control Laboratories (CLs) are some of the authorities are responsible for maintaining food standards and protecting consumer health by ensuring the quality of the food supply chain in the region.
The Asia-Pacific is anticipated tobe the fastest-growing market in the food safety testing market during the forecasted period. This is attributed tothe growing international trade which has mandated food safety testing to comply with the regulatory standards. Government of different countries in the region has put regulation in place for customers, producers, and regulators to ensure the food safety and quality which in turn fuelling food safety testing market in the region.
Global Food Safety Testing Market: Key Players Overview
SGS SA is one of the world’s leading verification, inspection, testing and certification company. The company has a strong global network with more than 2,600 offices and laboratories located across the globe. SGS SA operates in four core segments including testing, inspection, certification, and verification. In January 2018, the company acquired Vanguard Sciences Inc. (US), a provider of chemical, microbiological, and physical testing for food products with an aim to extend its testing capacities in the U.S.
Eurofins Scientificis and Europe-based company engaged in providing testing and support services to the environment, food, pharmaceutical, and cosmetic products. The company operates through more than 900 companies and more than 800 laboratories in over 50 countries across the globe. In October 2018, Eurofins Scientific acquired EnvironeX Group Inc. (Canada), a testing service provider to agriculture, food, pharmaceuticals, and environmental sectors with an aim to extend its footprints in Canada.
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