The 2024 Food Safety Report analyzes a changing industry landscape and highlights trends, advancements, and challenges in this critical sector. Maintaining food safety and integrity remains essential as the global population grows and food supply chains become complex. The report explores the industry’s dynamic ecosystem along with key players and global regulatory frameworks. It also highlights the firmographic data and the investment patterns to give an overview of the industry’s direction.
This food safety report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Food Safety Report 2024
- Executive Summary
- Introduction to the Food Safety Report 2024
- What data is used in this Food Safety Report?
- Snapshot of the Global Food Safety Industry
- Funding Landscape in the Food Safety Industry
- Who is Investing in Food Safety Solutions?
- Emerging Trends in the Food Safety Industry
- 5 Innovative Food Safety Startups
Executive Summary: Food Safety Report 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 900+ food safety startups developing innovative solutions to present five examples from emerging food safety industry trends.
- Industry Growth Overview: The food safety market shows an industry experiencing an annual rate of 27.74%. It includes over 6500 companies globally.
- Manpower & Employment Growth: The industry employs 840000+ workers and has added 37000 new hires in the past year.
- Patents & Grants: Over 1950 patents and 550 grants have been awarded that show support for innovation and research.
- Global Footprint: Leading country hubs include the US, India, the UK, Canada, and Spain. The top city hubs are in Singapore, Sydney, Melbourne, Dubai, and Toronto.
- Investment Landscape: The average investment per round is USD 31.9 million. In addition, more than 1300 funding rounds have benefited 500+ companies.
- Top Investors: Key investors like Hormel Foods, Norfund, and Rabobank have contributed over USD 170 million to the industry.
- Startup Ecosystem: Five innovative startups include Elroy Lab (hyperspectral AI), FLIM LABS (fluorescence analysis), Platter (food temperature probing), Neolithics (produce quality control), and lemon (digitized HACCP).
- Recommendations for Stakeholders: Governments should enforce strict regulations, invest in infrastructure, and raise public awareness. Innovators must focus on traceability, testing, and contamination prevention solutions while businesses should implement safety protocols and transparent reporting systems.
Explore the Data-driven Food Safety Report for 2024
The Food Safety Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. Our database has over 6500 companies, including 930 startups. Over the past year, the food safety sector trend growth rate reached 27.74%. The industry also has over 1950 patents and has secured 550+ grants. This shows a strong support for innovation.
In terms of global manpower, the food safety industry employs over 840000 workers, with an addition of 37000 new employees in the last year. The leading country hubs for food safety innovation include the US, India, the UK, Canada, and Spain. On a city level, Singapore, Sydney, Melbourne, Dubai, and Toronto stand out as top destinations with high startup activity. This shows a widespread geographical interest and investment in the food safety testing market.
What data is used to create this food safety report?
Based on the data provided by our Discovery Platform, we observe that the food safety industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: It receives good news coverage and publications, with over 9000 publications in the last year
- Funding Rounds: The industry experiences more than 1300 funding rounds as recorded in our database.
- Manpower: The manpower in the food safety sector exceeds 840000 workers. Also, over 37000 new employees joined the industry last year.
- Patents: The sector secures more than 1950 patents, demonstrating a high level of innovation and research activity.
- Grants: It also obtained over 550 grants, further reflecting support for research and development initiatives.
- Yearly Global Search Growth: The annual global search growth for food safety stands at 8.78%. This shows that the interest and awareness of this industry is growing worldwide.
- and more. Get in touch to explore all data points used in this food safety report.
A Snapshot of the Global Food Safety Industry
The key metrics further support the continuous growth and investment in the food safety industry. The workforce has exceeded 840000, while the sector has added 37000 new employees in the past year. This highlights the industry’s expanding influence and capacity. In addition, more than 6500 companies are working toward improving food safety and contributing to its diverse ecosystem.
Explore the Funding Landscape of the Food Safety Industry
From a financial perspective, the average investment value per funding round stands at USD 31.9 million. The sector has also attracted more than 500 investors, and they have closed over 1300 funding rounds. This shows steady financial backing and sustained interest. Moreover, over 500 companies have received investments, showing the growth potential within the food safety industry.
Who is Investing in Food Safety?
The food safety industry has attracted investments that total over USD 170 million. This financial support reflects investor confidence in the industry’s growth and innovation.
- Hormel Foods has invested USD 110 million in 2 companies.
- Norfund has committed USD 10.5 million to 2 companies.
- Rabobank has allocated USD 21 million across 2 companies.
- Encore Consumer has invested USD 22.4 million in 2 companies.
- FedDev Ontario has distributed USD 4.4 million among 3 companies.
- Canadian Agricultural has contributed USD 9.4 million to 2 companies.
- National Science Foundation has provided USD 520K to 2 companies.
- and more. Reach out to us to explore all investment data in the food safety industry
Access Top Food Safety Innovations & Trends with the Discovery Platform
The latest trends in the food safety industry along with the firmographic data are as follows:
- Temperature Monitoring remains a critical focus in the food safety industry and comprises over 1200 specialized companies. These companies employ 30K+ individuals, including 2K+ new hires in the past year. Despite its significance, the annual trend growth rate has experienced a slight decline of 1.02%.
- Mass Spectrometry plays a crucial role in advancing food safety standards by providing reliable tools for identifying harmful substances and verifying product authenticity. There are over 990 companies dedicated to this technology. They employ approximately 81K individuals and added over 4K new hires last year. The trend is experiencing a modest growth rate of 0.19%.
- Food Safety Management includes hazard analysis, critical control points (HACCP) management, and compliance with regulatory standards. This growing trend involves more than 840 companies and employs around 120K individuals. In addition, over 5K new employees have joined this sector in the past year. The annual trend growth rate stands at 5.34%, which reflects an increasing demand for safety management systems.
5 Top Examples from 900+ Innovative Food Safety Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
Elroy Lab offers Hyperspectral AI Technology
South Korean startup Elroy Lab detects foreign substances and atypical abnormalities in food. Its platform, ElroyNet, employs a hyperspectral optimal artificial neural network model to identify contaminants. This solution integrates into existing production lines and ensures operation with a simple GUI. ElroyNet is effective in manufacturing mass production lines and overcoming challenges faced by traditional hyperspectral methods.
FLIM LABS conducts Fluorescence Lifetime Analysis
Italian startup FLIM LABS provides hardware and software solutions for fluorescence lifetime imaging and time-resolved single-point spectroscopy applications. It offers FLIM Data Acquisition Card, a compact USB-powered device. The Constant Fraction Discriminator (CFD) Module generates digital exact time stamps for signals with varying amplitudes. FLIM LABS’s components integrate food safety applications in the agro-food sector.
Platter automates Food Temperature Probing
US-based startup Platter provides temperature monitoring solutions for food safety and reducing waste. Its Freezer Sensor, a wired RF sensor, tracks and transmits temperature data. This sensor connects to a bridge, which sends data to an online dashboard for tracking and analytics. The Dashboard Hardware supports the integration of these sensors into existing systems. Platter’s Online Dashboard Subscription is the central hub for monitoring various food storage units. The system notifies relevant parties in real time when temperatures deviate from safe ranges.
Neolithics enables Fresh Produce Quality Control
Israeli startup Neolithics controls fresh produce quality using advanced optical imaging, food science methodologies, and AI software algorithms. Its system, Neolithics Light, inspects various types of fresh produce for exterior and interior attributes. Neolithics Light uses optical imaging technology to scan fruits and vegetables, identify specific attributes, and measure content. Neolithics’ technology operates independently or integrates into existing WMS or ERP systems.
lemon digitizes HACCP Tasks & Checklists
UK-based startup lemon digitizes HACCP tasks and checklists for food safety management. The app includes temperature checks, food item tracking, and delivery management. It ensures EHO compliance and allows the export of digital records to PDF and spreadsheets. The businesses access customizable checklists and receive notifications to stay on track. It also offers a team collaboration feature and supports multiple outlets with a unified management system.
Gain Comprehensive Insights into Food Safety Trends, Startups, or Technologies
The 2024 Food Safety Report highlights the dynamic growth of the sector. The key trends such as temperature monitoring, mass spectrometry, and food safety management show the industry’s commitment to ensuring food safety and integrity globally. With increasing consumer awareness and changing preferences, the industry is set to grow faster in the coming years. Connect with us to explore all 900+ startups and scaleups, as well as all industry trends impacting food safety companies.
