- Base year considered - 2020
- Actual estimates/Historical data - 2015 – 2019
- Forecast period - 2020 – 2030
- Forecast units - Value (USD) Bn
- Segments covered - Product Type, Type of Test, Food Tested and Region
- Regions covered - North America, Latin America, Europe, Asia, Oceania and MEA
- 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.
- Report coverage - Revenue forecast, company share, competitive landscape, growth factors, and trends
Key Research Findings
- Food diagnostics services are used for testing for impurities and contaminations during production, refining, and packaging processes
- Innovations and advances in these services are anticipated to drive the growth of the overall market over the forecast period
- Europe is expected to account for the largest share in the market
- The safety test segment is expected to rise at the highest CAGR over the forecast period
- High susceptibility to contamination of fruit and vegetables by different forms of pests, pesticides and GMOs is expected to boost growth in the food diagnostics services market
- Rise in foreign food-borne disease outbreaks is expected to remain the dominant factor driving the market.
Some of the key players operating in the food diagnostics services market are 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.
The increasing focus of key players on research and development activities and innovations is anticipated to encourage the growth in the overall market over the forecast period.
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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 services 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 to Emerge as Leading Market for Food Diagnostics Services
Europe accounted for the largest share in the food diagnostics services market. In the past few years, European countries have witnessed several problems related to food safety. Strict measures were adopted as a result. Food safety policies have been implemented in Europe by Control Laboratories (CLs), National Reference Laboratories (NRLs), and EU Reference Laboratories (EURLs).
These authorities play an important role in ensuring the consistency of the food supply chain by upholding food security and preserving public safety. This will accelerate the expansion of Europe's food diagnostics services market.
Globalization and Growing Concern for Food Safety is Driving Growth
Expansion witnessed in the global market is largely due to the demand for improved food quality and increasing health issues. Stringent regulations imposed by governments to ensure foodborne disease prevention are expected to accelerate growth witnessed in the market. Increasing concerns pertaining to food safety will also fuel the demand for food diagnostic services. Rising food trade around the world will bolster growth opportunities in the coming years.
How Growth will Unfold
The increasing prevalence of foodborne disease worldwide and increasing knowledge about food safety are some of the mainkey factors expected to boost the global market for food diagnostics services. 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 difference in standardization and sample selection methods, on the other hand, may restrict the growth of the overall market. Nonetheless, the advent of cost-effective and faster technologyies and customer awareness regarding food security, health and quality are expected to enable growth in the market over the forecast period.
FOOD DIAGNOSTICS SERVICES MARKET TAXONOMY
The global Food Diagnostic Services market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Diagnostics Systems
- Diagnostics Consumables
- Meat Poultry & Sea Food products
- Processed food
- Fruits & Vegetables
- Dairy products
- Cereals & Grains
- North America
- Latin America