Central & South America Food Safety Testing Market Size, Share & Trends Analysis Report By Test (Allergen Testing, Chemical & Nutritional Testing), By Application (Dairy & Dairy Products, Processed Food, Beverages), By Region, And Segment Forecasts, 2023

Central & South America Food Safety Testing Market Size, Share & Trends Analysis Report By Test (Allergen Testing, Chemical & Nutritional Testing), By Application (Dairy & Dairy Products, Processed Food, Beverages), By Region, And Segment Forecasts, 2023

Central & South America Food Safety Testing Market Growth & Trends

The Central & South America food safety testing market size is expected to reach USD 2254.2 million by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 6.9% 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.

Central & South America Food Safety Testing Market Report Highlights

• The microbiological testing segment accounted for the largest revenue share of 36.5% in 2022 as this testing focuses on the detection and enumeration of microorganisms using biological, biochemical, molecular, or chemical methods
• The genetically modified organism (GMO) testing segment is expected to grow at the fastest CAGR of 8.0% during the forecast owing to stringent regulations regarding the cultivation of GMO seeds.
• The meat, poultry, & seafood products segment held the largest revenue share of 40.3% in 2022 owing to high meat production in the region as these products require testing on a regular basis for their microbiological quality as well as for the presence of chemical constituents
• 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

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