Food Safety Monitoring System Market Expected to Reach $63.5 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Food Safety Monitoring System Market," The food safety monitoring system market size was valued at $36.1 million in 2022, and is estimated to reach $63.5 million by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

A food safety monitoring system refers to a comprehensive framework comprising practices and technologies designed to ensure the safety and quality of food products across the supply chain. This system involves systematic monitoring, analysis, and control of factors like hygiene, contamination risks, storage, and transportation. Leveraging technologies such as sensors and data analytics, it aims to detect and mitigate potential hazards, comply with regulatory standards, and provide consumers with assurance regarding the safety and quality of the food supply.

The food safety monitoring system industry is changing owing to the trend toward sustainable, cruelty-free food sources such as grown meat. This transition needs stringent safety inspections throughout the manufacturing process. Furthermore, the demand for such alternatives is being driven by ethical and environmental concerns. Therefore, testing services are emerging to deal with these specific challenges. ISO-17025 certified labs are developing specific methodologies to develop their ability in cellular agriculture. Along with product safety, this transition leads to a more sustainable and considerate food system. Innovation and the introduction of advanced technologies are expected to drive the food safety monitoring system market forecast.

Consumer demand for clean and safe food items has increased dramatically, leading regulators to implement various new food safety regulations. Therefore, the number of national food safety regulations has expanded and grown complex. Furthermore, regulations regarding food safety vary from country to country, with food being acceptable for consumption in one country but not suitable for import into another. Therefore, the demand to standardize food safety standards is growing. A rise in the number of advances utilized by governments for food safety uniformity will help in dealing with the primary issue facing the global food safety monitoring system market. All these factors are anticipated to restrict the market growth during the forecast period.

Food safety in the food sector is gradually being digitalized, with companies accepting digital solutions for more accurate recording of food safety data, removing human error, and facilitating compliance. This trend is expected to continue as new software and automated applications assist food companies in optimizing their procedures. For example, apps and software are now linked to machines and sensors, allowing for efficient and automated data collection without the need for human participation. Although these digital solutions are not intended to replace human workers, they do make food safety recording quicker and less susceptible to mistakes, allowing the food safety monitoring system market to develop by providing creative and effective digital solutions to organizations in the food industry. In addition, in 2021, NSF International announced the release of 455 good manufacturing practice (GMP) standards for testing dietary supplements, cosmetics, and over-the-counter (OTC) products. These standards are intended to improve supply chain safety, quality, and trust by combining legal obligations with retailer quality criteria and reducing the number of audits and financial expenses associated with audits.

The food safety monitoring system market share is segmented based on technology, component, end-user, and region. By technology, it is classified into cloud-based and on-premises. By component, it is classified into software and hardware. By end-user, it is classified into food processing companies, food retailers, food manufacturing, restaurants, bakeries, and beverages companies. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the food safety monitoring system market analysis 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 report offers a comprehensive analysis of the global food safety monitoring system market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights on the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Food Safety Monitoring System Industry

• The food safety monitoring system market was significantly impacted due to the COVID-19 pandemic. The pandemic led to an increased awareness regarding hygiene and safety in the food industry, accelerating the adoption of advanced monitoring technologies. Stringent rules and multiplied demand for transparent supply chains have pushed the market to address emerging challenges, emphasizing the importance of strict food security measures.
• Post-COVID-19, the food safety monitoring system market has witnessed a significant transformation. The pandemic resulted in an increase in awareness about food safety, prompting a surge in demand for advanced monitoring solutions. Stringent regulations, along with the need for resilient supply chains, have accelerated the adoption of innovative technologies like IoT and blockchain.
• Companies are now prioritizing real-time tracking and traceability to ensure the safety and quality of food products. This post-pandemic landscape reflects a renewed commitment toward robust food safety measures and a more technologically advanced approach to securing the food supply chain.

Key Findings of the Study

• Based on technology, the cloud-based sub-segment emerged as the global leader in 2022 and the on-premises sub-segment is anticipated to be the fastest growing during the forecast period.
• Based on component, the hardware sub-segment emerged as the global leader in 2022 and the software sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on end-user, the food manufacturing sub-segment emerged as the global leader in 2022 and the food processing companies sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, North America registered the highest market share in 2022 and Asia-Pacific is predicted to show the fastest growth in the upcoming years.