London, Feb. 20, 2023 (GLOBE NEWSWIRE) -- In recent years, with globalization on the rise, there has been a sharp increase in concerns related to the safety of food being sold around the world. As the demand for food increases globally, so does the need for this food to meet prerequisite standards prior to consumption. Moreover, the extensive use of chemicals fertilizers and a greater prevalence of food borne diseases are also aspects that cause major concern and must be addressed accordingly. This is a major factor that is expected to have a profound influence on the growth trajectory of the global food diagnostics market in the coming years. A comprehensive report analysis by Fairfield Market Research has also highlighted the fact that greater implementation of technological innovations to ensure food quality, safety, and standards, is slated to immensely boost market growth prospects for players engaged in the food diagnostics market. Innovations such as the availability of cost-effective, user-friendly diagnostics kits and assays, the use of microbiological testing and chemical food analysis to ensure food safety compliance, etc.
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Insights into Segmental Analysis
The food diagnostics market has been segmented accordingly – By Type, Site, Testing Type, Food Tested, and Region. Based on the ‘Type’ market segmentation, the ‘Systems’ sub-segment is expected to account for the majority share of this market as they are precise and easy to use. While the ’Testing Type’ segmentation aspect is expected to be dominated by the hybridization techniques sub-segment. With respect to the ‘Site’ market segmentation, the ‘Outsourcing Facility’ sub-segment is expected to reserve the majority market share due to the increased outbreaks of food-borne illnesses. Concerning the ‘Food Tested’ segmentation of this market, the ‘Meat, Poultry, and Seafood’ sub-segment is slated to account for the majority share over the forecast period.
Insights into Regional Analysis
Post extensive regional analysis, Europe is expected to remain the frontrunner in the food diagnostics market. Stringent oversight by various regulatory authorities has ensured that this regional market accounts for the majority share. A greater number of food-related scandals such as the horse meat scandal in the UK, among other instances of meat contamination, have all led to a slew of regulations being enforced in this region. This is expected to continue over the forecast period. Additionally, the regional market of North America is also expected to index notable growth in the coming years. This can be attributed to the multi-state salmonella outbreaks that occurred as recently as 2022, as well as the increasing demand for food and beverages, more specifically frozen foods, in this region.
Key Players in the Food Diagnostics Market
Apart from 3M (US), Thermo Fisher Scientific Inc. (US), PerkinElmer Inc. (US), Danaher Corporation (US), Shimadzu Corporation (Japan), this report will also cover other prominent players in the food diagnostics market, particularly detailing their respective key strategic developments that lend a competitive edge. Some of these other major profiled companies include Agilent Technologies Inc. (US), bioMerieux SA (France), Bio-Rad Laboratories, Inc. (US), Neogen Corporation (US), Foss (Denmark), Biorex Food Diagnostics (UK), and Randox Food Diagnostics (Ireland)
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Global Food Diagnostics Market is Segmented as Below:
By Type
- Systems
- Test Kits
- Consumables
By Site
- Outsourcing Facility
- Inhouse
By Testing Type
- Safety
- Quality
By Food Tested
- Meat, Poultry, and Seafood
- Processed Food
- Dairy Products
- Fruits & Vegetables
- Cereals, Grains, and Pulses
- Nuts, Seeds, and Spices
- Other Food Tested
By Region
- North America
- Europe
- Asia Pacific
- LAMEA
Key Elements Included In The Study: Global Food Diagnostics Market
- Food Diagnostics Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value, 2018 - 2021
- Market Value at Regional and Country Level, 2022 - 2029
- Market Dynamics and Economic Overview
- Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
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