Latin America Food Safety Testing Market

Latin America Food Safety Testing Market Growth and Forecast (2023 - 2028):

Latin America Food Safety Testing Market was worth $1.12 billion in 2022 and estimated to be growing at a CAGR of 6.40%, to reach $1.53 billion by 2028.

Market Overview:

Food supply, globally, is under persistent threat, and there is an increasing need for realistic test products that can safeguard food safety.

Shortcoming in treating and processing the food to put an end to toxins and other impurities, incorrect handling of food and polluted input food materials are the main factors that results in food contamination.

Drivers and Restraints:

The growth of the Latin America Food Safety Testing Market is mainly driven by factors such as increase in the number of foodborne illnesses and globalization of the food business. Factors such as time and cost of the testing techniques are the main factors limiting the growth of this market.

Latin America Food Safety Testing Market Segmentation Analysis:

The Latin America Food Safety Testing Market is segmented based on contaminants tested, food type, and technology. On the basis of contaminants tested, the Latin America Food Safety Testing market is segmented into Microbial, GMOs, Metal Contaminants, Pesticides and Residues, Toxins, Food Allergen, and Others. On the basis of Technology, the market is segmented into Traditional and Rapid. On the basis of Food Type, the market is segmented into Meat & Poultry, Dairy Product, Processed Food, Beverages, Fruits & Vegetables, and Others.  

Region Analysis:

Geographically the Latin America Food Safety Testing Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Brazil accounts for 55% of the market in this region followed by Argentina. Latin America is projected to be one of the fastest growing markets during the forecast period. Other major markets in this region are Uruguay, Paraguay, Colombia, Chile, and Bolivia.

Key Players in the Market:

Major Key Players in the Latin America Food Safety Testing Market are

• Bureau Veritas S.A
• ALS Limited
• Eurofins Scientific
• Intertek Group PLC
• Silliker Inc
• DTS Laboratories