Global Food Diagnostics Market Size, Trends & Analysis - Forecasts to 2026 By Type (Test kits, and Consumables); By Type of Site (Outsourcing facility, and In-House); By Testing Type (Safety, and Quality); By Food testing (Meat, Poultry, and Seafood, Processed Food, Dairy Products, Fruits & Vegetables, Cereals, Grains, and Pulses, Nuts, Seeds, and Spices, and Other Food Tested); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Food Diagnostics Market Insights
The global food diagnostics market will propel at a CAGR of 7.5% during the gauge time frame (2020-2026). Food diagnosis involves several diagnostic methods that aim to check the quality and safety of the food and thus protect the health of the consumer from deadly food-borne diseases. These methods help to check the harmful & toxic ingredients, pesticides and pathogens present in the food to enhance the shelf life of the food thus degrading the quality of the food product.
Increasing food-borne diseases across the globe is the primary and most dominating factor responsible for the growth of the food diagnostic market. This is further expected to accelerate more in the forecast period due to the introduction of strict government food regulatory policies to restrict the further spread of any illness on a national or global scale. Advancements in technologies in the food-tech sector have open rooms full of lucrative opportunities for many key players. Furthermore, the increasing globalization of food trade and intense growing concern towards the hygiene of the food product due to the global pandemic outbreak is vigorously fueling the food diagnostic market and projected to flourish more in the coming years.
Food Diagnostics Market: By Type
Test kits and consumables are the components of the market. The test kits market will propel or grow at the highest rate than the consumables, in the projected year due to the high demand for accurate, user-friendly, and on-site test results by various key end-users. The growing awareness about the testing tools and cost-effective with rapid results technology is further expected to adding values to the test kits segment in the coming years.
Food Diagnostics Market: By Type of Site
Based on the type of site, the market is segmented into an outsourcing facility, and in-house. Reduced test practices under the supervision of qualified and trained food-tech scientists are triggering the market segment of outsourcing facilities over the in-house segment. Furthermore, advancement in technology, growing investment of government towards food safety leads to bringing fully automated and self-reliant equipment in the market which generates more accurate and precise results in a very short period. This supplements the growth of the demand for food testing laboratories in the coming years.
Food Diagnostics Market: By Testing Type
One the basis of a testing type, the market is segmented into safety, and quality. The safety segment is more dominating in terms of the type of testing, which is due to the enhanced number of food recalls and the necessity to maintain both trust and confidence of the customer in food safety is driving the safety segment market on a global scale. Furthermore, the outbreak of COVID-19 alarms many countries' food safety policies so to maintain hygiene and prevent contamination of food especially for severe COVID-19 affected regions. Therefore accelerating the safety segment of food safety even at that time when the whole world is struggling to build up some market share.
Food Diagnostics Market: By Food Testing Type
Based on the food testing type, the market is segmented fruits & vegetables, dairy products, poultry, meat, seafood, processed food, cereals, grains, & pulses, nuts, seeds, and spices, and other food items. The meat and poultry segment is the most affected segment due to high chances of contamination in various steps like processing, packaging, and even storing. Therefore meat and poultry segment is the most dominating food testing segment which holds a big market share and due to the immense increase of raw meat-related disease in the last few years, it is projected to build a huge share market of food testing in the coming years.
Food Diagnostics Market: By Region
Based on the region, Europe is the leading shareholder of the food diagnostic market due to strict food regulatory policies and raising concern towards food-borne diseases in this region. However, the recent outbreak of severe foodborne illness in Spain and increasing meat contamination cases in the UK have led to the growth acceleration of the market.
The Asia-Pacific region is growing in the food diagnostic market owing to the increased contribution of countries like China and India is fueling its market in the Asia-Pacific region.
Food Diagnostics Market Share and Competitor Analysis
The key players operating in the food diagnostics market are Danaher Corporation, Biorex Food Diagnostics, 3M, Thermo Fisher Scientific Inc., Shimadzu Corporation, bioMerieux SA, Neogen Corporation, PerkinElmer Inc., Foss, Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Randox Food Diagnostics, and others.
Please note: This is not an exhaustive list of companies profiled in the report.
In September 2020, Biorex Food Diagnostics launched Randox Evidence Investigator, a multi-food testing analyzer that uses a single sample for the detection of a wide range of analytes.
In September 2020, Neogen Corporation launched an improved and advanced food test kit that can rapidly detect the presence of gluten in food products, raw ingredients, and even in environmental samples.
Check the Press Release on Global Food Diagnostics Market Report
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The Global Food Diagnostics Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Food Diagnostics Market
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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