The food diagnostics market size was valued at USD 12.2 billion in 2021 and is projected to reach USD 17 billion by 2030, expanding at a CAGR of around 7% during the forecast period, 2022 – 2030. The growth of the market is attributed to increase in the frequency of foodborne outbreaks, food recalls, and rise of international food trade.
Diagnostics is the process of identifying the cause or nature of a phenomenon, such as abnormal animal or artificial device behavior. Food diagnostics is a term that refers to food testing. In order to avoid certain foodborne diseases, food diagnostics are performed. Food diagnostics can identify microbial contamination and other contaminants in vegetables and fruits. Food diagnostics help preserve consumers' health while also reducing healthcare expenditures.
Market Trends, Drivers, Restraints, and Opportunities
- Increased concerns about food quality and safety as a result of an increase in food recalls, is projected to drive the market.
- Rising cases of foodborne diseases is estimated to fuel the market during the forecast period.
- Factors such as growing cases of food adulteration is expected to boost the market in the coming years.
- Strict safety standards for food are anticipated to propel the market during the projected period.
- Increase in false labelling cases is expected to hinder the market growth during the forecast period.
- High cost of advanced technologies is estimated to hamper the market growth
- Technological advancements in testing are projected to create immense opportunities for the market players.
Scope of the Report
The report on the global food diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Food Diagnostics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2022 – 2030
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Segmentation
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Types (Consumables and Systems [Immunoassay-based, Chromatography-based, Spectrometry-based, and Hybridization-based]), Types of Tests (Quality and Safety), Applications (Fruits & Vegetables, Shellfish, Processed Foods, Grains, Dairy Products, and Meat & Poultry)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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3M; Thermo Fisher Scientific Inc.; PerkinElmer Inc.; Randox Food Diagnostics; Biorex Food Diagnostics; Foss; Neogen Corporation; Bio-Rad Laboratories, Inc.; bioMerieux SA; Agilent Technologies Inc.; Shimadzu Corporation; Danaher Corporation; Omega Diagnostics Group PLC; and Invisible Sentinel
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Market Segment Insights
The hybridization-based segment is projected to hold major market share
Based on types, the market is segregated into consumables and systems. The systems segment is further segregated into immunoassay-based, chromatography-based, spectrometry-based, and hybridization-based. The hybridization-based segment is projected to hold major market share. The great analytical precision provided by hybridization-based technology is estimated to drive the segment. Growing need for automated PCRs (Polymerase Chain Reaction) is expected to propel the segment.
The safety segment is projected to account for a key market share
On the basis of types of tests, the market is bifurcated into quality and safety. The safety segment is projected to account for a major market share during the forecast period. The rising incidence of food recalls, as well as the need to retain consumer confidence in availability and safety of food, is expected to increase the demand for safety testing. Additionally, since the arrival of the COVID-19, all impacted countries have prioritized food safety to prevent contamination of any food items.
The meat & poultry segment is expected to grow at a rapid pace during the forecast period
In terms of applications, the market is fragmented into fruits & vegetables, shellfish, processed foods, grains, dairy products, and meat & poultry. The meat & poultry segment is expected to grow at a rapid pace during the forecast period. The meat & poultry products are commonly contaminated during storage, packaging, and processing. Based on the HACCP food safety control system, the Food Safety and Inspection Service (FSIS) has developed standards to prevent contamination of poultry products in abattoirs and industrial plants.
Europe is anticipated to dominate the market during the forecast period
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is anticipated to dominate the market during the forecast period. Growth of the market in the region is attributed to growing globalization of food chain and global trade of agriculture and food products.
Segments
The global food diagnostics market has been segmented on the basis of
Types
- Consumables
- Systems
- Immunoassay-based
- Chromatography-based
- Spectrometry-based
- Hybridization-based
Types of Tests
Applications
- Fruits & Vegetables
- Shellfish
- Processed Foods
- Grains
- Dairy Products
- Meat & Poultry
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- 3M
- Thermo Fisher Scientific Inc.
- PerkinElmer Inc.
- Randox Food Diagnostics
- Biorex Food Diagnostics
- Foss
- Neogen Corporation
- Bio-Rad Laboratories, Inc.
- bioMerieux SA
- Agilent Technologies Inc.
- Shimadzu Corporation
- Danaher Corporation
- Omega Diagnostics Group PLC
- Invisible Sentinel
Competitive Landscape
Key players competing in the food diagnostics market include 3M; Thermo Fisher Scientific Inc.; PerkinElmer Inc.; Randox Food Diagnostics; Biorex Food Diagnostics; Foss; Neogen Corporation; Bio-Rad Laboratories, Inc.; bioMerieux SA; Agilent Technologies Inc.; Shimadzu Corporation; Danaher Corporation; Omega Diagnostics Group PLC; and Invisible Sentinel. Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years.