Food Safety Testing Market

Market Leader – SGS SA (Switzerland), Europins Scientific (Luxembourg) and Intertek Group PLC (UK) are increasing their market Share Steadily Through Acquisitions in Food Safety Testing Market

The market for food safety testing is estimated to be USD 19.5 billion in 2021; it is projected to grow at a CAGR of 7.9% to reach USD 28.6 billion by 2026. The growth in the food safety testing market is attributed to the worldwide increase in the number of outbreaks of foodborne illnesses, implementation of stringent food safety regulations, and globalization of food supply. Lack of coordination between market stakeholders and improper enforcement of regulatory laws & supporting infrastructure in developing countries act as restraints for the food safety testing market. The challenges faced by the market include a lack of harmonization of food safety standards and high costs associated with the procurement of food safety testing equipment.

The food safety testing market is dominated by few globally established players such as SGS SA (Switzerland), Eurofins Scientific (Luxembourg), Intertek Group plc (UK), Bureau Veritas (France), ALS Limited (Australia) and TÜV SÜD (Germany). These players have adopted growth strategies such as acquisition and agreements to increase their presence in the global market.

SGS SA primarily offers inspection, verification, testing, certification, and quality assurance services. The company has nine business segments—consumer & retail; agriculture food & life; oil, gas & chemical; minerals; industrial; government & institution; transportation; certification & business enhancement; and environmental health & safety. It offers food safety testing through its agriculture food & life segment. The company operates through a network of more than 2,400 offices and laboratories across Europe, the Middle East, the Americas, Africa, and the Asia Pacific. With its strong presence, the company has established a strong market share and is identified as a strong player in the global food testing market. Its subsidiaries include SGS North America Inc. (US), SGS Germany GmbH (Germany), SGS India Private Ltd (India), and SGS United Kingdom Limited (UK). Major competitors of the company include Eurofins (Luxembourg), Intertek (UK), and Bureau Veritas (France), among others.

Eurofins is an international group of laboratories that provide testing and support services to the pharmaceutical, food, environmental, agricultural, and consumer products industries and governments. The company capitalizes on a portfolio of 150,000 reliable analytical methods that enable it to offer services that characterize the safety, identity, purity, composition, authenticity, and origin of products & biological substances. It offers testing services through the following 13 divisions—food & feed testing, biopharma services, agroscience services, agro testing, clinical diagnostics, cosmetics testing, consumer product testing, forensic services, environmental testing, genomic services, medical devices, Eurofins technologies, and REACH services. It offers food testing services under its food & feed testing division.

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Eurofins Scientific operates through 800 laboratories in 50 countries, and with such a strong global presence, the company can launch customized solutions for their customers and hence the company is identified as a strong player in the food safety testing market. The company has a strong footprint in Europe, North America, and South America, with a growing presence in the Asia Pacific. It has several subsidiaries that include Eurofins Food Chemistry Testing France Holding SAS (France), Eurofins Food Testing Germany East Holding GmbH (Germany), and Eurofins Analyses pour l’Environnement France LUX Holding SARL (France). Eurofins Scientific’s key competitors include SGS (Switzerland), Intertek (UK), and Bureau Veritas (France).

Intertek is a provider of quality and safety services. It serves manufacturers, retailers, governments, and traders across various industries, globally. The company’s major services include testing, inspection, product certification, and commodities & systems. It operates through three business divisions, namely, products, trade, and resources. The company offers food safety testing services through its products division.

Intertek has a global network of over 1,000 laboratories, including 29 state-of-the-art food testing laboratories in Germany, the UK, and China, and expert testing facilities in the US, Canada, India, Vietnam, South Korea, Peru, Sweden, Italy, Chile, Poland, Turkey, Indonesia, Sri Lanka, the UAE, Thailand, Hong Kong, and the Philippines. Intertek Group focuses highly on innovation, due to which the company is referred to as a star player in the food safety testing market. The company operates through 1,000 locations in over 100 countries across North and South America, Europe, the Middle East, Africa, and Asia Pacific. It has 23 principal subsidiaries, some of which are Intertek Testing Services Shenzhen Ltd. (China), Intertek Testing Services NA Inc. (US), Intertek Testing Services Holdings Limited (UK), Intertek Vietnam Limited (Vietnam), and Intertek Testing Services (Thailand) Limited. Major competitors of the company include SGS (Switzerland), Eurofins (Luxembourg), and Bureau Veritas (France).

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Food Safety Testing Market by Type (Natural, Synthetic, Nature-Identical), Application (Food Products, and Beverages), Form (Liquid, Powder and Gel), Solubility (Dyes and lakes) & Region(North America, Asia Pacific, Europe) - Global Forecast to 2026

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Report Code
FB 3059
RI Published ON
5/7/2021
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