Global Food Scanning Technology Market Size, Trends & Analysis - Forecasts to 2026 By Product Type (Software/ App and Scanning Device), By End-User (Hotels & Restaurants, Personalized Use, and Food Testing Laboratories) Competitive Landscape, Company Market Share Analysis, and Competitor Analysis
Food Scanning Technology Market Insights
Integration of AI and machine learning with the food industry is the most crucial part of the industry’s feature of any cutting edge economy. In addition to the fact that it sustains endless jobs, it likewise keeps the users supported with safe and quality food to put on our plates. One of the major causes of health hazards and obesity, food is one the most important factors in people’s lives. Moreover, the rising number of food associated allergies, high BMI index, diabetes, thyroid, PCOD, and CVDs have risen due to irregular habits of eating processed food. On the other hand, food safety and authenticity remain a huge issue in most developing countries. Keeping the food items fresh throughout the supply chain period matters a lot and brings up the need for scanning them for the appropriate amount of nutrient levels. The market of food testing and authenticity requires easy, efficient, accurate, new, fast, and most portable tools to overcome these obstacles of authenticity.Major players such as Tellspec, Spectral Engines, DietScanner, and Nima Labs, have developed a novel spectral sensing platform that offers unique benefits in manyapplications, such as food sensing and analysis. Moreover, Spectral Engines in March 2017 bagged an award for its innovation in the field of food scanning technology. Their product was awarded as the winner of the Horizon Prize, which was organized by the European Union. Also, earlier in February 2016, they were recognized for their innovative product by the Photonics Prism Award in the detectors and sensors category at Photonics West 2016.ON the other hand, DietScanner’sSCiO is the world’s smallest and cheapest food scanning spectrometer. It is the portable version of lab-grade technology which was made available by the company for public use at a reasonable price. This company in 2016 received an award for its DietSensor at CES 2016 with the title of “Best of innovation award” in the Software & Mobile Apps Category. Also, their device has been named as the technology pioneer in 2015 by the World Economic Forum in the Life Science and Health Category. The company also has earned the 2016 top corporate honor in The Optical Society’s (OSA).
This innovative device uses the NIR spectral sensing module, which works on advanced algorithms, has cloud-connectivity, and can store a vast material library in order to provide information and data regarding the protein, fat, sugar, and total energy content of the food product with the high level of accuracy. These devices use infrared spectroscopic methods in order to detect the materialmaking it a highly compact device that renders high quality food content measurement. Due to its high portability, the device has entered into both the industrial and consumer sector. Food scanners are simply utilized to gather data about allergens, synthetic compounds, supplements, calories, and different fixings present in food. Food scanners are helpful devices which gives guarantee if the food is clean. Further, food scanners help to keep up your nutrients admission and assist you with trying not to eat undesirable fixings. These food scanners are utilized to forestall foodborne infections. Rising awareness towards importance of clean food and food content monitoring among the buyers is encouraging the growth of the food scanning technology marketAlso, increasing cases of lactose intolerance, food allergies, health hazards due to specific chemicals and gluten will help the food scanning technology market grow rapidly. However, on the contrary, because the market is hosted by very few players, the growth is analyzed to be gradual and slow. Also, due to the low purchasing power of developing economies, the market may face hurdles during its launch and supply in that economy.
Food Scanning Technology Market: By Product Type
Based on the type of scanning technology, the market is split intosoftware/ app and scanning devices. The scanning device will be growing faster than the smartphone app in the food scanning technology market. The rising need for personalized scanning tools to monitor nutrient levels will boost the market demand from 2021 to 2026. Companies like Tellspec, Spectral Engines, FoodScanner, Bosch, DietSensor, Nima Labs, and Inspectoare the top players in the market offering food scanners/ scanning devices.
Food Scanning Technology Market: By End-User
Based on end-user the market can be split into hotels & restaurants, personalized use, and food testing laboratories. The end-user segment of personalized use will be the fastest-growing segment. Increasing cases of pediatric health issues related to specific food allergies, obesity, food deficiency, the low metabolic rate will support the growth of the food scanning technology market for the personalized use segment.
Food Scanning Technology Market: By Region
As per the geographical analysis, the market can be classified into North America (the US, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa and Central South America.North America is expected to observe the highest growth over the gauge time frame attributable to the variables, for example, high dispensable incomes and rising wellbeing awareness among individuals. The Asia Pacific region is analyzed to be thefastest-growing segment in the industry for food scanners mainly due to different government rules and guidelines to maintain food safety and quality. Besides, the European region is likewise expected to observe palatable development from 2021 to 2026. Expanding the number of individuals experiencing food sensitivities, diabetes, and other foodborne illness is helping the market to grow rapidly
Food Scanning Technology Market Share and Competitor Analysis
Tellspec, Spectral Engines, Yuka, Fooducate, Shopwell, ipiit, FoodSmart, FoodScanner, Bosch, DietSensor, Nima Labs, and Inspectoc are the key players inthe food scanning technology market.
Please note: This is not an exhaustive list of companies profiled in the report.
In March 2019, Inspecto, which is a food-tech start-up launched a lab-grade food scanning device which is a real-time food contaminant scanner. This device will target laboratory and professional use segments.
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The Global Food Scanning Technology Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 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 Scanning Technology 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 company and customer analytics.
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