Global demand grows for food safety products

Good opportunities will exist for smart labels and tags, driven by the rapid adoption of new smart label technology in food packaging and heightened emphasis on traceability in the food supply chain, according to ‘World Food Safety Products’, a new study from Cleveland-based industry research firm The Freedonia Group.

The report forecasts world demand for food safety products will rise by over eight percent per year to 18 billion USD in 2016. A number of factors will contribute to this growth:

• Consumer, food industry participants, and legislator concern with the prevention, identification, and traceability of food contaminants – heightened by international foodborne-illness outbreaks and large product recalls due to food safety concerns.
• Growth in food and beverage production as well as the food service industry – the largest markets for food safety products.
• Developed and developing countries will adopt more stringent food safety regulations.

The US will remain the world’s largest national user of food safety products, accounting for one-quarter of the world market through the forecast period.  However, the most rapid advances will occur in developing regions.  China will continue to see some of the fastest growth in demand as pressure mounts following a number of food safety incidents.  In the coming years, China will surpass Japan to become the world’s second largest food safety product market. 

On a smaller scale, India, Brazil, Russia, and Mexico will also see rapid increases in food safety product demand through 2016.

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