The global food safety monitoring system market is anticipated to reach $63,492.3 thousand by 2032, growing from $36,074.5 thousand in 2022 at a CAGR of 6.1% from 2023 to 2032.
A food safety monitoring system is a complete framework of practices, technologies, and protocols designed to ensure the security and quality of food products throughout the complete supply chain. It involves systematic monitoring, analysis, and management of various factors, including hygiene, illness risks, storage conditions, and transportation. Leveraging technologies such as sensors, information analytics, and traceability tools, the system aims to detect and mitigate potential hazards, comply with regulatory standards, and provide consumers with assurance regarding the security and quality of the food they consume.
Food safety guidelines are essential in achieving all-inclusive adherence to food security and achieving the significant global demand for safe food. These assessments typically examine a food's biochemical composition, physical attributes, and the potential presence of undesirable impurities. Well-established testing techniques are accessible for addressing each specific concern, such as conventional methods for detecting unwanted microbial growth. The identification of potential hazards constitutes an integral component of a comprehensive Hazard Analysis and Critical Control Points (HACCP compliance testing) testing plan and an overall food safety management system. Food testing prevents the risk of foodborne illness and any hazards related to it. According to the World Health Organization, every year, 420,000 people worldwide die and an estimated 600 million get sick from eating spoiled food, resulting in 33 million years of healthy life. Moreover, 40% of foodborne disease deaths occur in children under the age of five, which results in 125,000 deaths annually.
Food safety testing requires specialized equipment and expertise, both of which are expensive for businesses, particularly small ones. Some businesses find it difficult to implement adequate food safety measures because they lack the resources to invest in expensive testing equipment or hire trained personnel. Therefore, they choose to conduct less thorough testing or none, putting consumers at risk. Furthermore, the cost of testing is passed on to consumers, leading to higher food prices. The high cost of food safety testing equipment and services limits market growth, particularly in developing countries with limited resources.
The rising demand for food safety solutions, driven by the growing health and wellbeing trend, is the most important factor driving the food safety monitoring system market expansion. Factors such as rapid urbanization, economic development, and increased disposable income contribute positively to the expansion of the food & beverage industry. The market is further driven by the rising popularity of convenience food products and government initiatives to mitigate foodborne diseases. The current trend of increased consumption of frozen foods and ready-to-eat food products, influenced by a hectic lifestyle and a growing population, is predicted to substantially boost the food safety monitoring system market expansion during the forecast period.
The food safety monitoring system market experienced distinct phases post-COVID-19. During the pandemic, there was an increased focus on food safety, prompting increased adoption of monitoring systems to ensure product quality. Post-COVID-19, the market continues to evolve with sustained emphasis on safety protocols. The adoption of advanced technologies, like IoT and blockchain, has become imperative for real-time monitoring and traceability. The industry's resilience in adapting to new norms and prioritizing robust measures highlights a lasting commitment toward food safety. The convergence of regulatory compliance, technology, and consumer expectations remains pivotal, shaping the food safety monitoring system market in a post-pandemic landscape.
The key players profiled in this report include SGS SA, RJ Hill Laboratories Ltd., DuPont, Intertek Group PLC, Danaher Corporation, SAP, AsureQuality Ltd., SecureMetric Technology, IBM, and Bureau Veritas SA. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
A food safety monitoring system is a complete framework of practices, technologies, and protocols designed to ensure the security and quality of food products throughout the complete supply chain. It involves systematic monitoring, analysis, and management of various factors, including hygiene, illness risks, storage conditions, and transportation. Leveraging technologies such as sensors, information analytics, and traceability tools, the system aims to detect and mitigate potential hazards, comply with regulatory standards, and provide consumers with assurance regarding the security and quality of the food they consume.
Food safety guidelines are essential in achieving all-inclusive adherence to food security and achieving the significant global demand for safe food. These assessments typically examine a food's biochemical composition, physical attributes, and the potential presence of undesirable impurities. Well-established testing techniques are accessible for addressing each specific concern, such as conventional methods for detecting unwanted microbial growth. The identification of potential hazards constitutes an integral component of a comprehensive Hazard Analysis and Critical Control Points (HACCP compliance testing) testing plan and an overall food safety management system. Food testing prevents the risk of foodborne illness and any hazards related to it. According to the World Health Organization, every year, 420,000 people worldwide die and an estimated 600 million get sick from eating spoiled food, resulting in 33 million years of healthy life. Moreover, 40% of foodborne disease deaths occur in children under the age of five, which results in 125,000 deaths annually.
Food safety testing requires specialized equipment and expertise, both of which are expensive for businesses, particularly small ones. Some businesses find it difficult to implement adequate food safety measures because they lack the resources to invest in expensive testing equipment or hire trained personnel. Therefore, they choose to conduct less thorough testing or none, putting consumers at risk. Furthermore, the cost of testing is passed on to consumers, leading to higher food prices. The high cost of food safety testing equipment and services limits market growth, particularly in developing countries with limited resources.
The rising demand for food safety solutions, driven by the growing health and wellbeing trend, is the most important factor driving the food safety monitoring system market expansion. Factors such as rapid urbanization, economic development, and increased disposable income contribute positively to the expansion of the food & beverage industry. The market is further driven by the rising popularity of convenience food products and government initiatives to mitigate foodborne diseases. The current trend of increased consumption of frozen foods and ready-to-eat food products, influenced by a hectic lifestyle and a growing population, is predicted to substantially boost the food safety monitoring system market expansion during the forecast period.
The food safety monitoring system market experienced distinct phases post-COVID-19. During the pandemic, there was an increased focus on food safety, prompting increased adoption of monitoring systems to ensure product quality. Post-COVID-19, the market continues to evolve with sustained emphasis on safety protocols. The adoption of advanced technologies, like IoT and blockchain, has become imperative for real-time monitoring and traceability. The industry's resilience in adapting to new norms and prioritizing robust measures highlights a lasting commitment toward food safety. The convergence of regulatory compliance, technology, and consumer expectations remains pivotal, shaping the food safety monitoring system market in a post-pandemic landscape.
The key players profiled in this report include SGS SA, RJ Hill Laboratories Ltd., DuPont, Intertek Group PLC, Danaher Corporation, SAP, AsureQuality Ltd., SecureMetric Technology, IBM, and Bureau Veritas SA. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the food safety monitoring system market analysis from 2022 to 2032 to identify the prevailing food safety monitoring system market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the food safety monitoring system market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global food safety monitoring system market trends, key players, market segments, application areas, and market growth strategies.
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- Product Life Cycles
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- Technology Trend Analysis
- Market share analysis of players by products/segments
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- Regulatory Guidelines
- Additional company profiles with specific to client's interest
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- Expanded list for Company Profiles
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- SWOT Analysis
Key Market Segments
By Technology
- Cloud-based
- On-premises
By Component
- Software
- Hardware
By End-user
- Food Processing Companies
- Food Retailers
- Food Manufacturing
- Restaurants
- Bakeries
- Beverages Companies
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- South Africa
- Rest of LAMEA
Key Market Players
- SGS SA (Société Générale de Surveillance SA)
- RJ Hill Laboratories Ltd.
- DuPont (US)
- Intertek Group plc
- Danaher Corporation
- SAP
- AsureQuality Ltd.
- SecureMetric Technology
- IBM
- Bureau Veritas SA
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FOOD SAFETY MONITORING SYSTEM MARKET, BY TECHNOLOGY
CHAPTER 5: FOOD SAFETY MONITORING SYSTEM MARKET, BY COMPONENT
CHAPTER 6: FOOD SAFETY MONITORING SYSTEM MARKET, BY END-USER
CHAPTER 7: FOOD SAFETY MONITORING SYSTEM MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- SGS SA (Société Générale de Surveillance SA)
- RJ Hill Laboratories Ltd.
- DuPont (US)
- Intertek Group plc
- Danaher Corporation
- SAP
- AsureQuality Ltd.
- SecureMetric Technology
- IBM
- Bureau Veritas SA
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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