CSA Food Safety Testing Market Hit at a CAGR of 5.7% in Terms of Revenues from 2018 to 2025

 The Central & South America food safety testing market size is expected to reach USD 1.36 billion by 2025, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.7% during the forecast period. Increasing food safety concerns due to consumer preference for processed and packaged eatables are expected to contribute to the market growth in the region. Moreover, rising demand for exotic vegetables and fruits, premium coffee, and imported products continue to contribute to safety concerns. This is projected to augment the market growth.

Changing lifestyle and increased per capita income have resulted in high demand for packaged and ready-to-eat products, which is also likely to boost market growth. Manufacturers are taking increasing efforts to ensure food safety owing to economic losses caused by foodborne diseases. Foodborne disease outbreak is a major cause of diarrheal diseases and poses a significant threat in the majority of the Central & South American countries. Such diseases cause severe and long-lasting damages including ulceration, meningitis, chronic diseases affecting articular and respiratory system. This is expected to have a positive impact on the market expansion. In addition, rising awareness levels among consumers regarding safety will also contribute to the market development in the years to come.

Furthermore, regional governments have launched initiatives, such as Good Farming Practice (GFP) and Good Manufacturing Practice (GMP) to ensure safety. Safety testing service providers have their own laboratories that offer various services including microbiological, allergen, Genetically Modified Organisms (GMO), nutritional analysis, and residue and contamination testing. In addition, vegetables and fruits producers perform routine tests by using test kits to check their products for any contamination. Meat, poultry, and seafood is the largest application segment, followed by processed eatables. Increased exports of cocoa from tropical countries and quinoa from Bolivia is estimated to boost the market growth.

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Further key findings from the study suggest:

• Microbiological testing segment accounted for 43.1% of the total revenue share in 2017 as this testing focuses on the detection and enumeration of microorganisms using biological, biochemical, molecular, or chemical methods
• GMO testing segment is projected to expand at a CAGR of 5.8% during the forecast years due to strict regulations regarding the cultivation of GMO seeds and rising instances of illegal GMO crops cultivation in the region
• Meat, poultry, and seafood end-use segment accounted for a significant share of the market in 2017 as these products require testing on a regular basis for their microbiological quality as well as for the presence of chemical constituents
• Market in Peru is expected to register a strong CAGR owing to rise in disease outbreaks in the country along with increased government regulations to ensure food safety
• The market is highly concentrated with a few number of companies accounting for large market share along with the presence of numerous small-scale firms providing specialized services to food sector across the value chain

Grand View Research has segmented the Central & South America food safety testing market on the basis of test, end-use, and region:

CSA Food Safety Test Outlook (Revenue, USD Million, 2014 - 2025)

• Allergen Testing
• Chemical & Nutritional Testing
• Genetically Modified Organism (GMO) Testing
• Microbiological Testing
• Residues & Contamination Testing
• Others

CSA Food Safety Testing End-use Outlook (Revenue, USD Million, 2014 - 2025)

• Meat, Poultry, & Seafood Products
• Dairy & Dairy Products
• Processed Food
• Beverages
• Cereals & Grains
• Others

CSA Food Safety Testing Regional Outlook (Revenue, USD Million, 2014 - 2025)

• Central & South America
  • Peru
  • Ecuador
  • Bolivia

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.