Food Diagnostics Market
2019 Analysis and Review Food Diagnostics Market by Type - Systems and Consumables for 2019 - 2029
- 2020-04-21
- REP-GB-11430
- 128 Tables
- 112 Figures
- 200 pages
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Press Release:
Food Diagnostics Market Trend Analysis
Global Food Diagnostics Market to Surpass US$ 23.9 Bn by 2029
The global food diagnostics market is projected to reach US$ 23.9 Bn by the end of 2029. The market was valued at US$ 12.5 Bn in 2019. If these figures hold true, the market will exhibit a CAGR of 6.70% between 2019 and 2029. The major driving factors on the food diagnostics market are the rising global outbreaks of foodborne diseases. In addition, strict food safety regulations, the availability of advanced rapid technology, increased demand for convenience and processed food items, increased outbreaks of chemical pollution in food processing industries and increased knowledge of food safety practices among consumers.
COVID -19 : Impact Analysis
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- The food diagnostics market will exhibit a CAGR of 6.70% between 2019 and 2029
- Innovations and developments in food diagnostics systems are expected to drive market growth over the forecast period.
- Europe will have the largest market share.
- The safety test segment will reach the highest CAGR over the forecast period.
- High vulnerability to fruit and vegetable contamination by various types of pests, pesticides and GMOs is also expected to fuel the food diagnostics market.
- The increase in outbreaks of global foodborne diseases is expected to remain the dominant driving factor in the market.
Key Factors Shaping Food Diagnostics Market
Meat, Poultry & Seafood Segment to Exhibit High Growth
Among foods tested, the meat, poultry, and seafood segment is expected to dominate the market. Meat & poultry items have chances of getting infected during the manufacturing, packaging and storage. The high demand for seafood products such as crustaceans, shrimp, crabs, lobsters, tuna, marlin and swordfish due to their nutritional qualities such as the availability of omega fatty acids and other essential nutrients is a major factor driving the growth of the market for seafood testing products.
On the flipside, restrictions imposed around the world to curb the spread of coronavirus may cause supply-chain disruptions hindering the market’s growth trajectory. Nonetheless, food diagnostics are likely to become more valuable for meat and seafood industry than ever before. Rumours linking coronavirus to meat consumption have created panic among consumers. While experts feel soon the situation will settle-down it is bound to render consumers more sceptical about quality and safety of food products. Spurred by this factor, the food diagnostics market will continue witnessing high demand.
Rise in the Outbreaks of Foodborne Illnesses and Stringent Food Safety Regulations Projected to Drive the Market
The food diagnostics market is driven by factors such as increased global outbreaks of foodborne diseases, globalization in food trade, stringent food safety regulations and the adoption of advanced technologies. Nevertheless, the lack of coordination between market stakeholders, improper enforcement of regulatory legislation and support for infrastructure in developing countries can hinder the growth.
Numerous Health Benefits of Food Diagnostics Result in Increasing Demand
Diagnostics is a process of identifying any phenomenon's cause or nature, particularly an animal or artifact device's abnormal behavior. Food diagnosis is also referred to as food diagnosis, or simply it. Diagnosis of the food is performed to prevent multiple foodborne diseases. Food diagnostics helps identify microbial and other fruit and vegetable contaminants. Diagnosis of food helps protect the health of consumers and helps to reduce healthcare expenses. The food diagnostic methods are used to test whether or not the food is healthy, free from harmful chemicals and has the right ingredient level. They check if there are any toxins, viruses, pesticides, GMOs etc.
Food Diagnostics Market - Structure Analysis
- The rising focus of key players on R&D activities and innovations is anticipated to fuel overall market growth over the forecast period.
- The market players are likely to focus on expanding their market reach besides strengthening their organizational and financial ability to gain competitive advantage in the market.
Report Scope
|
Report Metric |
Details |
|
Base year considered |
2019 |
|
Actual estimates/Historical data |
2014 - 2018 |
|
Forecast period |
2019 - 2029 |
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Market Value in 2019 |
US$ 12.5 Bn |
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Segments covered |
Product Type, Type of Test, Food Tested and Region |
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Regions covered |
North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA |
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Key Players |
Randox Laboratories Ltd, 3M Company, Bio-Rad Laboratories Inc., Neogen Corporation, E. I. Du Pont De Nemours and Company, Foss A/S, Thermo Electron Corporation, VWR International, Fermantes, Danaher Corporation, Omega Diagnostic Group Plc., Biomérieux SA, Merck Kgaa, Beckman Coulter Inc., Biocontrol Systems Inc., Thermofisher Scientific Inc., and Perkinelmer Inc. |
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Growth Drivers |
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Safety Segment is Projected to Grow at the Highest Rate
During the forecast period the safety test segment is projected to rise at the highest CAGR. Sample food diagnosis is done as a pre-emptive measure to reduce the risk of contamination and enhance the product's nutritional consistency before it is sold. Rising global trade in food products and food safety regulations are driving the food diagnostics market. In addition, the increasing prevalence of foodborne disease, food adulteration and an increase in food allergens resulted in many incidences of food recall. This led to an increase in the number of food safety tests being conducted, which subsequently increased demand for food inspection systems and consumables.
Europe Estimated to Account for the Largest Market
The European market accounted for the largest share in the food diagnostics market. In the past few years, European countries have noticed several problems related to food safety. Strict measures to incorporate full food safety strategies for customers were adopted as a result. Food safety policies have been demonstrated in Europe by actions by Control Laboratories (CLs), National Reference Laboratories (NRLs), and EU Reference Laboratories (EURLs). Such authorities play an important role by ensuring the consistency of the food supply chain in upholding food security and preserving public safety. This will accelerate the development of Europe's food diagnostics market.
* This data is only a representation. Actual data may vary and will be available in report.
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2014
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2018
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2022
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2029
Globalization and Growing Concern for Food Safety is Driving Market Growth
Development in the global market is largely due to improved food quality and health issues. The government's stringent regulations on foodborne disease prevention are expected to accelerate market growth for global food diagnostics systems. Nevertheless, increasing customer concern about food safety can also have a positive impact on the global demand for food diagnostics systems. Food trade globalization is also opening gates to new growth markets worldwide, and is expected to improve the global demand for food diagnostics systems in the coming years. In addition, emerging niche markets and their increased demand for food testing can pose potential opportunities on the global market.
Consumables segment held the leading market share
System segment forecast to higher rate of growth
Safety segment holds dominance
Control segment to rise at a higher CAGR
Processed food segment holds dominance
Meat, poultry & seafood segment to rise at a higher CAGR
How Growth will Unfold
The increasing prevalence of foodborne disease worldwide and increased knowledge of food safety are some of the main factors expected to fuel the growth of the global market for food diagnostics systems in the near future. Moreover, stringent food safety and preservation regulations implemented around the world and the availability of a wide variety of testing technologies and methods are expected to drive market over the forecast period. The variability in preparation standardization and sample selection, on the other hand, is one of the important factors expected to restrict the growth of the overall market in the next few years. Nonetheless, the advent of cost-effective and faster technology and customer knowledge of food security, health and quality are expected to provide promising growth opportunities for key players operating on the global market for food diagnostics systems.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Food Diagnostic Market: Global Industry Analysis 2015-2019& Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the Food Diagnostic market offers global industry analysis for 2015-2019 & opportunity assessment for 2019-2029. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the Food Diagnostic market, the growth prospects of the market are obtained with maximum precision.
Food Diagnostics Market Taxonomy
The global Food Diagnostic market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Type
- Diagnostics Systems
- Diagnostics Consumables
Test Type
- Safety
- Quality
Food tested
- Meat Poultry & Sea Food products
- Processed food
- Fruits & Vegetables
- Dairy products
- Cereals & Grains
Region
- North America
- Latin America
- Europe
- Asia
- Oceania
- MEA
What's Included
The executive summary of the Food Diagnostic market includes the market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global Food Diagnostic market.
Readers can find the detailed segmentation and definition of the Food Diagnostic market in this chapter, which will help them understand basic information about the Food Diagnostic market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the Food Diagnostic market report.
The associated industry assessment of the Food Diagnostic market is carried out in this section. The macroeconomic factors affecting growth of the Food Diagnostic market are provided in this section and the impact of these macroeconomic indicators on the Food Diagnostic market is analyzed. The processing overview and technological advancements in the Food Diagnostic market is also provided.
Profit margins at each level of the Food Diagnostic market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the Food Diagnostic market.
The drivers and restraints impacting the growth of the Food Diagnostic market are explained in this chapter. Opportunities and ongoing trends in the Food Diagnostic market are also comprehensively discussed.
This chapter includes detailed analysis of the historical Food Diagnostic market (2015-2019), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2020-2030).
Based on Type, the Food Diagnostic market is classified into Diagnostics system and diagnostics consumables. This part also offers market attractiveness analysis based on Type.
Based on Test type, the Food Diagnostic market is classified into Safety and Quality. This part also offers market attractiveness analysis based on Test type.
Based on Food Tested, the Food Diagnostic market is classified into Meat Poultry and Seafood products, Processed food, Fruits and Vegetables, Dairy products, Cereals and Grains. This part also offers market attractiveness analysis based on Food tested.
This chapter explains how the Food Diagnostic market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, Asia, Oceania, and Middle East and Africa.
This chapter includes a detailed analysis of the growth of the Food Diagnostic market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the Food Diagnostic market in Latin America. This chapter also includes growth prospects of the Food Diagnostic market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Food Diagnostic market based on its end users in several countries such as Germany, U.K., France, Italy, Spain, BENELUX, Nordic,Russia, Poland, and the Rest of Western Europe are included in this chapter.
This chapter includes a detailed analysis of the growth of the Food diagnostics market in the East Asia region, along with a country-wise assessment that includes Japan, China, and South Korea. Readers can also find regional trends, regulations, and market growth based on end users and countries in the APEJ region.
In this chapter, readers can find information about key trends and developments in the key countries of South Asia such as India, Thailand, Malaysia, Indonesia, Singapore, and Rest of South Asia Food diagnostics market.
This chapter offers insights into how the Food Diagnostic market is expected to grow in major countries in the Middle East region such as Australia and New Zealand, during the forecast period 2020-2030.
This chapter contains information about the market growth of Food Diagnostic in Middle East region such as GCC Countries, South Africa, North Africa, and the Rest of Middle East, during the forecast period 2020-2030.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the Food Diagnostic market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the Food Diagnostic market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Biomerieux SA, Danaher Corporation , Bio-Rad Laboratories Inc., Neogen Corporation , Biorex Food Diagnostics , Randox Food Diagnostics , FOSS, Hygiena LLC, Agilent Technologies Inc., Qiagen , GEN-IAL GmbH , and Envirlogix Inc., Minnesota Mining and Manufacturing Company, The Merck Group, Thermo Fisher Scientific.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Food Diagnostic report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the Food Diagnostic market.
How the research was conducted?
Primary Research
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Distributors
- Traders
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
Secondary Research
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Dieticians Association
- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits
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