Demand for Food Safety Products to Reach $18 Billion in 2016
World demand for food safety products is forecast to rise 8.4 percent per year to $18 billion in 2016. High profile international foodborne illness outbreaks, in addition to large product recalls due to food safety concerns, will continue to fuel demand as the prevention, identification, and traceability of food contaminants will remain key issues for consumers, food industry participants, and legislators.
Demand for food safety products will also be boosted by the adoption of more stringent food safety regulations in both developed and developing countries. Advances will further be supported by growth in food and beverage production, and expansion in the foodservice industry, as food processing plants and foodservice establishments constitute the largest markets for food safety products.
These and other trends are presented in World Food Safety Products, a new study from The Freedonia Group, Inc.
Disinfection products will continue to account for the largest share of the global market for food safety products, representing over one-half of total demand through the forecast period. Disinfectants and sanitizers are used at every level of food production, delivery, and preparation, reflecting the variety of potential food contamination points. Use of disinfection equipment, on the other hand, is concentrated at the food processing level.
Demand for diagnostic testing products will benefit from an upsurge in the frequency of food plant inspections, in no small part due to increasingly strict food safety regulations worldwide. Demand for disposable gloves is also expected to advance rapidly, boosted by gains in foodservice applications, especially in the fast growing quick service restaurant segment. Good opportunities will exist for smart labels and tags, driven by the rapid adoption of new smart label technology in food packaging and heightened emphasis on traceability in the food supply chain.
The US will remain the world’s largest national user of food safety products by far, accounting for one-quarter of the world market through the forecast period. However, the most rapid advances will occur in developing regions. China will continue to see some of the fastest growth in demand, due to mounting pressure to ensure the safety of the food supply following a number of food safety incidents. In the coming years, China will surpass Japan to become the world’s second largest food safety product market. Other countries such as India, Brazil, Russia, and Mexico will also see rapid increases in food safety product demand through 2016, but gains will stem from a much smaller base.