Los Angeles, Dec. 16, 2022 (GLOBE NEWSWIRE) -- Precedence Research, Recently Announced Report on “Food Diagnostics Market - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030”.
The process of diagnosis includes identifying the origin or type of phenomena, such as abnormal animal or artificial object behavior. Food diagnostic testing is done to help prevent some foodborne diseases. It aids in giving food producers industry-wide traceability, helps them ensure that their food items are secure, free of pollutants, residues, or pathogens, and helps them give consumers correct nutritional information.
Key Insights:
- By contaminants type, pathogens segment size was valued at USD 7.4 billion in 2021.
- The meat, poultry, & sea-foods segment is predicted to reach around USD 8.1 billion by 2030.
- Asia Pacific region is expected to hit at a CAGR 8.3% between 2022 to 2030.
- Rapid inspection technology segment is poised to grow at a CAGR of 7.7% between 2022 to 2030.
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Regional Snapshots
Europe held dominant position and 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.
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.
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.
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Scope of the Report
| Report Attributes | Details |
| Market Size in 2022 | USD 16.24 Billion |
| Revenue Forecast by 2030 | USD 27.8 Billion |
| CAGR | 6.95% from 2022 to 2030 |
| Largest Market | Europe |
| Fastest Growing Region | Asia Pacific |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
| Key Players | 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 |
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 to 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.
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 favor 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.
Restraints
The safety of food reaching end consumers may be at 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.
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.
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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Market Segmentation
By Type
- Systems
- Consumables
By Diagnostics System
- Hybridization Based
- Chromatography Based
- Spectrometry Based
- Immunoassay Based
- Biosensors
- Testing Kits
- Others
By Site
- Outsourcing facility
- Inhouse
By Application
- Meat, poultry, and seafood
- Processed food
- Dairy products
By Test Type
- Safety
- Quality
By Contaminants Type
- Pathogens
- Pesticides
- Genetically Modified Organisms (GMOs)
- Toxins
- Others
By Technology Used
- Traditional
- Rapid
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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