[Latest] Global Food Diagnostics Market Size/Share Worth USD 30.75 Billion by 2032 at a 7.2% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth, Growth Rate, Value)

[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Food Diagnostics Market size & share revenue was valued at approximately USD 16.32 Billion in 2022 and is expected to reach USD 17.45 Billion in 2023 and is expected to reach around USD 30.75 Billion by 2032, at a CAGR of 7.2% between 2023 and 2032. The key market players listed in the report with their sales, revenues and strategies are 3M Company, Merk Kgaa, Danaher Corporation, Agilent Technologies Inc., Neogen Corporation, Biorex Food Diagnostics, thermo Fisher Scientific Inc., Biomerieux Sa, Bio-Rad Laboratories Inc., Randox Food Diagnostics, and others.


Austin, TX, USA, July 29, 2023 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled Food Diagnostics Market Size, Trends and Insights By Type (Systems, Test kits, Consumables), By Site (Outsourcing facility, Inhouse), By Application (Meat, poultry, and seafood, Processed food, Dairy products), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032 in its research database.

“According to the latest research study, the demand of global Food Diagnostics Market size & share was valued at approximately USD 16.32 Billion in 2022 and is expected to reach USD 17.45 Billion in 2023 and is expected to reach a value of around USD 30.75 Billion by 2032, at a compound annual growth rate (CAGR) of about 7.2% during the forecast period 2023 to 2032.”

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Regional Snapshots.

Europe held a dominant position and is predicted to be in the dominating region during the forecast period due to the strict regulations being established by the regional regulatory and governing agencies. To provide a more secure supply of food for people in domestic and international economies, food security requirements are getting more and more strict.

The market for food diagnostics in Europe is anticipated to develop as a result of causes including an increase in incidents of food adulteration, financial constraints, food control concerns, a lack of knowledge about the harmful effects of foodborne diseases, and a lack of hygienic practices.

Market Dynamics.
Drivers.

Foodborne disease cases are on the rise and are expected to fuel the growth of the food diagnostics market. Diagnostics is an important process because it involves the use of diagnostic techniques on food in order to ensure its quality and safety. These systems are made to detect contamination and contaminants in food that happen during the stages of production, processing, and packaging.

Increased international outbreaks of foodborne illnesses are expected to continue to be the main factor influencing the market for food diagnostics. Additionally, the market for food diagnostics is expected to be significantly impacted by the rise of food process trade safety testing with quicker findings.

The market for food diagnostics systems is expected to rise as a result of rising concerns about food quality and safety, stricter food safety regulations, increased food trade, and rising consumer knowledge of food safety.

Consumer consumption habits are continuing to change in favour of natural, organic, healthy eating, which frequently includes food that is devoid of GMOs and antibiotics, especially in developed countries. The product lineups of manufacturers are being impacted by this change. Hence, it is expected that healthy food consumption demand is driving the food diagnostics market.

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Restraints.

The safety of food reaching end consumers may be in danger due to a lack of strict control measures and resources to monitor food safety along the food chain. Due to a lack of sufficient resources, expertise, and modernized standards for food production and monitoring, the growing number of small-scale producers in developing nations are frequently sources of dangerous food.

Small businesses in underdeveloped nations might not have implemented basic food testing procedures, which increases the danger of contamination. This is a significant aspect that will probably prevent the market from expanding. Moreover, food makers transmit information about a food product and its nutritional properties using statements, and other food labels.

False labelling is restricting the market growth. It is when a business sells or distributes any product with inaccurate or misleading information about its composition, nature, origin, or use. Food fraud lawsuits and false labelling have increased as a result of the surge in adulteration of food and ingredients. It is preventing the market from expanding.

(A free sample of the Food Diagnostics report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

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(Please note that the sample of the Food Diagnostics report has been modified to include the COVID-19 impact study prior to delivery.)

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Opportunities.

Many countries are launching programs to improve food quality, safety, and fair trade, which could spur the market for food diagnostics to expand. Consumers’ concerns about food safety and quality are growing as the prevalence of foodborne illnesses rises, providing enormous opportunities for producers of food diagnostics. When food producers adhere to the standards, consumers can have confidence in the quality and safety of the products they buy.

The need for new, enhanced, user-friendly, and affordable diagnostic kits and assays to enable effective monitoring of food samples will be further translated into the necessity of manufacturers improving food safety at the consumer level through an emphasis on preventing contamination and the use of hygienic practices. This will give the market lots of chances to expand.

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Challenges.

Over the forecast period, high costs and complexity related to diagnostic systems are predicted to restrain the growth of the global market for food diagnostic systems. High-end technologies like chromatography and spectrometry, which are utilized to evaluate food samples effectively, relate to expensive instruments and associated consumables.

The cost of these diagnostics systems also rises because of a greater emphasis on R&D activities and the need for accurate and reliable readings. The cost of acquiring these technologies is increased, particularly in low- and middle-income nations, because most of these testing devices are exported in huge quantities from wealthy regions like North America and Europe. These elements make widespread use of food diagnostic systems difficult.


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Key questions answered in this report:

  • What is the size of the Food Diagnostics market and what is its expected growth rate?
  • What are the primary driving factors that push the Food Diagnostics market forward?
  • What are the Food Diagnostics Industry's top companies?
  • What are the different categories that the Food Diagnostics Market caters to?
  • What will be the fastest-growing segment or region?
  • In the value chain, what role do essential players play?
  • What is the procedure for getting a free copy of the Food Diagnostics market sample report and company profiles?

Key Offerings:

  • Market Share, Size & Forecast by Revenue | 2023−2032
  • Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
  • Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Report Scope

Feature of the Report Details
Market Size in 2023 USD 17.45 Billion
Projected Market Size in 2032 USD 30.75 Billion
Market Size in 2022 USD 16.32 Billion
CAGR Growth Rate 7.2% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Type, Site, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Report Highlights.

On the basis of type, the systems segment is the leading segment and is expected to make the largest contribution to the food diagnostics market. Systems are simple to use, friendly to end users and deliver reliable test results. With the rising need for simple, quick, and fast diagnostics tools including immunoassay, PCR systems, PCR-based testing kits, and biosensors, the market for food diagnostic systems is anticipated to expand even more in the coming years. This market’s expansion is being driven by the rising need for quick technologies.

On the basis of site, the highest CAGR is projected for the outsourcing facility segment during the forecasted period. The increasing number of new players entering the food diagnostics market is responsible for the expansion of the outsourcing facility segment.

The expansion of outsourcing food testing services will also be fueled by the requirement for completely integrated, independent, and specialized equipment for collecting and analyzing food samples. The need for food testing laboratories is being fueled by decreased overhead and operational costs as well as the availability of cutting-edge testing technologies.

On the basis of application, the segment that includes meat, poultry, and seafood is expected to hold the largest market share during the forecast period. Products made from beef, chicken, sheep, mutton, fish, crustaceans, mollusks, crabs, and pork are included in this sector. Meat and meat products are evaluated using food diagnostics for a variety of pollutants, including pathogens, meat speciation, GMOs, allergies, and other residues. The diagnosis required more in this segment.

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Browse the full “Food Diagnostics Market Size, Share, Growth Analysis Report By Products & Software, (Instruments, Consumable, LIMS), By Services (Heavy Metal Testing, Microbial Analysis, Potency, Residual Screening), By End-User (Cultivators, Laboratories, Research Institutes), and By Region - Global Industry Overview, Statistical Data, Competitive Intelligence, Trends, Outlook, and Forecast 2022–2030” Report at https://www.custommarketinsights.com/report/food-diagnostics-market/

Recent Developments.

Two novel tests from the 3M Company were released: 3M Molecular Detection Assay 2 – STEC Gene Screen (stx and eae) and 3M Molecular Detection Assay 2 – STEC Gene Screen (stx). This will increase the company’s portfolio and make it easier for it to meet the varied screening requirements of laboratories.


List of the prominent players in the Food Diagnostics Market:

  • 3M Company
  • Merk Kgaa
  • Danaher Corporation
  • Agilent Technologies Inc.
  • Neogen Corporation
  • Biorex Food Diagnostics
  • thermo Fisher Scientific Inc.
  • Biomerieux Sa
  • Bio-Rad Laboratories Inc.
  • Randox Food Diagnostics
  • Others

Recent Developments

The AuroFlow AQ Afla strip test was introduced by PerkinElmer to screen for harmful chemicals in corn. This will assist the business in diversifying its offering of grain mycotoxin testing services.

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The Food Diagnostics Market is segmented as follows:

By Type

  • Systems
  • Test kits
  • Consumables

By Site

  • Outsourcing facility
  • Inhouse

By Application

  • Meat, poultry, and seafood
  • Processed food
  • Dairy products

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By Region

North America

  • The U.S.
  • Canada
  • Mexico

Europe

  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

This Food Diagnostics Market Research/Analysis Report Contains Answers to the following Questions.

  • Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Food Diagnostics Market? What are Their Company Profile, Product Information, and Contact Information?
  • What Was the Global Market Status of the Food Diagnostics Market? What Was the Capacity, Production Value, Cost and PROFIT of the Food Diagnostics Market?
  • What Is the Current Market Status of the Food Diagnostics Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Food Diagnostics Market by Considering Applications and Types?
  • What Are Projections of the Global Food Diagnostics Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
  • What Is Food Diagnostics Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is the Economic Impact On Food Diagnostics Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Food Diagnostics Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Food Diagnostics Industry?

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Reasons to Purchase Food Diagnostics Market Report

  • Food Diagnostics Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
  • Food Diagnostics Market report outlines market value (USD) data for each segment and sub-segment.
  • This report indicates the region and segment expected to witness the fastest growth and dominate the market.
  • Food Diagnostics Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
  • The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
  • Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
  • The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
  • Food Diagnostics Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

  • The study provides a thorough overview of the global Food Diagnostics market. Compare your performance to that of the market as a whole.
  • Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

  • Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Food Diagnostics market analysis.
  • The competitive environment of current and potential participants in the Food Diagnostics market is covered in the report, as well as those companies' strategic product development ambitions.
  • According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
  • For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

  • Participants and stakeholders worldwide Food Diagnostics market should find this report useful. The research will be useful to all market participants in the Food Diagnostics industry.
  • Managers in the Food Diagnostics sector are interested in publishing up-to-date and projected data about the worldwide Food Diagnostics market.
  • Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Food Diagnostics products' market trends.
  • Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans. 

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