SOURCE: MarketResearch.com

MarketResearch.com

November 16, 2010 09:08 ET

Demand for Food Safety Products to Rise 8.1% Annually Through 2014

ROCKVILLE, MD--(Marketwire - November 16, 2010) - MarketResearch.com has announced the addition of Freedonia Group Inc's new report "World Food Safety Products" to their collection of Beverage Manufacturing market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2873727

World demand for food safety products -- including disinfection and diagnostic products, as well as smart labels and tags, and software and tracking systems -- is projected to rise 8.1 percent per year to $13.6 billion in 2014. Advances will be stimulated by gains in food and beverage processing activity and increasingly strict food safety regulations worldwide, especially following several recent high-profile cases of food contamination (e.g., melamine-contaminated milk in China in 2008 and the massive egg recall in the US in 2010). Some of the best opportunities for food safety products will be found in the Asia/Pacific region, which will remain the largest regional market globally. The region will also see the fastest growth through the forecast period and will account for two-fifths of aggregate market value gains between 2009 and 2014.

While the US is by far the world's biggest user of food safety products (accounting for 23 percent of total demand in 2009), the most rapid advances will occur in developing regions. Growth in Asia, the Africa/Mideast region, Eastern Europe, and Central and South America will all outpace the global average. Industrialization trends and increases in living standards will fuel demand for food safety products in these regions' generally underdeveloped food and beverage processing, and foodservice industries. Also, as food trade becomes increasingly important, developing nations need to meet developed country standards or risk losing export demand. China will continue to see some of the fastest demand growth, due to mounting pressure on the part of consumers, producers and regulators to ensure the safety of the food supply (following a string of food safety incidents involving contaminated Chinese food products). India will also see rapid increases in food safety product demand through 2014, but gains will stem from a much smaller base.

Disinfection products will continue to account for the bulk of food safety product demand worldwide. While demand for disinfectants is relatively mature, the rising number of reported foodborne outbreaks and food product recalls will support sales going forward. Food safety diagnostic product demand will be boosted by trends toward the use of rapid diagnostic tests, which are more expensive than their conventional counterparts. Increases in food safety inspections by government agencies -- especially in developed countries and in countries with large, export-oriented food industries, such as China -- will also boost demand for diagnostic products as a matter of course.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2873727

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