According to the current analysis of Reports and Data, the Global Food Diagnostics Market was valued at USD 11.76 Billion in 2018 and is expected to reach USD 20.75 Billion by year 2026, at a CAGR of 7.35%. The rising contaminants cases, increasing instances of mislabeling, growing food borne diseases and mounting consciousness among the consumers about the food safety are the key factors driving the demand for diagnostic testing market. Contaminants and chemicals which enters during manufacturing process are considered to be the significant cause for food poisoning which may increase the necessity of testing and diagnostics during the forecasted period. Meat, poultry, sea-food are expected to dominate the safety testing market for eatables. Additionally, escalating demand for pesticides residue other contaminants testing will enhance the industry progress over the forecasted time frame.
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The Diagnostics refers to the procedure of verification of eatables in order to check safety and to decrease the risk of contamination causing illness. The testing involves validation of product as indicated on the labels. The safety testing techniques such as microbial contamination and analysis on chemical will provide safer production, processing and delivering the product to the consumer. This diagnostics helps the companies in regulating allergenic components and pathogenic bacteria in eatables. The act of testing eatables has significantly increased over the past few years pertaining to growing demand for tested products and rising interest for increasing reliability accuracy of test solutions. However, variation in the tests required for different types and lack of safety awareness in countries across the globe are expected to hinder the market growth over the forecast period of 2018-2026.
Key companies operating in the global Food Diagnostics market profiled in the report:
- 3M company,
- ALS Limited,
- Asure Quality Ltd.,
- Bio-Rad Laboratories,
- Bureau Veritas S.,
- Eurofins Scientiific,
- Food Hygiene and Health Laboratory,
- Genetic ID NA Inc.,
- Intertek Group,
- Microbac Laboratories Inc.,
- Qiagen N.
- Others
The report offers details about each market player along with the global position, financial standing revenue contribution, product portfolio, and business expansion plans. The global Food Diagnostics market is extremely comprehensive and consists of leading players at regional and global levels focusing on adopting various strategies such as partnerships, joint ventures, mergers and acquisitions, collaborations, new product launches and research and development investments.
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The food and beverage industry is rapidly expanding in terms of revenue and is expected to account for lucrative revenue growth between 2021 and 2026 owing to rapid developments in the food and beverage sector, rising demand for high quality food, rapidly expanding global population and constantly changing public preferences. In addition, increasing investments to develop sustainable and eco-friendly products, increasing adoption of veganism and rising consumption of energy drinks, probiotics and increasing demand for packaged food are boosting global market growth.
Asia Pacific is expected to register fastest revenue CGAR throughout the forecast period owing to factors such as increasing consumption of healthy food and food products, emergence of new market players, rising disposable income and increasing demand for meat free and gluten free products.
Market Segmentation:
Type (Revenue, USD Million; 2018–2026)
- Systems,
- Consumables
Diagnostics Systems (Revenue, USD Million; 2018–2026)
- Hybridization Based
- Chromatography Based
- Spectrometry Based
- Immunoassay Based
- Biosensors
- Testing Kits
- Others
Food Tested (Revenue, USD Million; 2018–2026)
- Meat, Poultry and Seafood Products
- Processed Food
- Fruits and Vegetables
- Dairy Products
- Cereals and Grains
Test Type (Revenue, USD Million; 2018–2026)
- Safety
- Quality
Contaminants Type (Revenue, USD Million; 2018–2026)
- Pathogens
- Pesticides
- Genetically Modified Organisms (GMOs)
- Toxins
- Others
Technology Used (Revenue, USD Million; 2018–2026)
- Traditional
- Rapid
Key questions addressed in the global Food Diagnostics market report:
- Who are the key players operating in the global Food Diagnostics market?
- What are the key outcomes of SWOT analysis and Porter’s Five Force analysis of the global Food Diagnostics market?
- What are the key restraints that are expected to hamper global Food Diagnostics market growth during the forecast period?
- What are the key factors expected to boost global market revenue growth between 2021 and 2026?
- What revenue CAGR is the global Food Diagnostics market expected to register throughout the forecast period?
- Which region is expected to account for dominant revenue share over other regional markets throughout the forecast period?
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