Food testing market to grow to $24.4 billion by 2026

The global food testing market is currently valued at $19.1 billion and is expected to grow to $24.4 billion by 2026 at a compound annual growth rate (CAGR) of 5.8%. 

According to the GIA forecast for the same period, the microbiological forensics segment is expected to have a CAGR of 5.6% to $7.1 billion globally. The report notes that the food industry is increasingly using automated and rapid microbiological tests, because traditional methods of quality control and safety are considered insufficiently effective in a pandemic.

In the context of the analysis of the impact of the COVID-19 pandemic and the associated economic crisis, the average annual growth rate in the testing segment of contamination residues (in particular, herbicides and pesticides) has been adjusted to 6% over the next seven years.

Now economically developed countries are investing heavily in the development of innovative technologies for controlling the quality and safety of food products. The U.S. food testing market is valued at $4 billion in 2022. In China, the world's second largest economy, according to GIA forecasts, by 2026 it will amount to $1.6 billion with a compound annual growth rate of 7.3%. In Germany, the CAGR in the next three years will be 5.6%, in Canada and Japan - 5.3% and 5.1%, respectively.