Global Food Diagnostics Market is Expected to Reach USD 20.2 Billion by 2025 : Fior Markets

Global Food Diagnostics Market by Type (Diagnostics Systems, Diagnostics Consumables), Type of Test (Safety, Quality), Food Tested (Meat, Poultry, & Seafood, Others), Region Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

Newark, NJ, Feb. 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global food diagnostics market is expected to grow from USD 10.8 Billion in 2017 to USD 20.2 Billion by 2025 at a CAGR of 8.1% during the forecast period 2018-2025.

Rising number of foodborne illnesses, rising inclination for onsite testing, globalization of food trade, increased implementation of new & improved technology of PCR, chromatography and immunoassay, stringent policies of government on foodborne diseases prevention and growing concerns about food safety & quality in the consumer are the factors fuelling the food diagnostics market.

Food diagnostics is defined as a special branch within diagnostics where diagnostic methods are applied to food so as to ensure quality and safety of food. There are food hazards at every stage in the food supply chain and different analytical methods and technologies are applied at different stages. Consumer demands and rising concerns are major drivers forcing decision-makers and food producers involved in food manufacturing to take care about food safety. For instance, in September 2018, Thermo Fisher announced a launch of multiple global customer solution centers which focus on meeting and exceeding the demands of scientists in food, beverage, pharmaceutical, and biotech laboratories by developing critical workflows and integrated solutions that help advance chromatography and mass spectrometry worldwide.

Growing inclination for onsite testing and globalization of food trade and rising implementation of new and improved technology of PCR, chromatography and immunoassay are two factors supplementing the growth of the market. But modifications in sample collection and preparation standardization may hamper the growth of market. However, increased government expenditure and spending on food safety drives the industry growth in coming years.

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Key players operating in the global food diagnostics market include Beckman Coulter Inc., Randox Laboratories Ltd., Biocontrol Systems Inc., E. I. Du Pont De Nemours and Company, Thermofisher Scientific Inc., Perkinelmer Inc., Thermo Electron Corporation, Fermantes, 3M Company, Omega Diagnostic Group Plc., VWR International, Bio-Rad Laboratories Inc., Merck Kgaa, Biomérieux SA, Danaher Corporation, Neogen Corporation, and Foss A/S among others. To enhance their market position in the global food diagnostics market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

For instance, in December 2018, SCIEX in collaboration with NofaLab announced the development of the first non-derivatized method using LC-MS/MS for quick and simple detection and quantitation of glyphosate and other polar pesticides in food, feed, and water commodities.
Leading organizations are continuously focused on new product developments and venture capital investments to obtain market share. For instance, in November 2018, US-based biotechnology development company Thermo Fisher Scientific had launched a complete next-generation sequencing (NGS) workflow that helps the food businesses in combating food fraud. The Thermo Scientific Food Authenticity NGS Workflow are used for multi-species screening and identification for food authenticity.

The diagnostics systems segment held the largest market share of 61.10% in 2017

The type segment is classified into diagnostics systems and diagnostics consumables. The diagnostics systems segment estimated to lead the food diagnostics market in 2017.Under the diagnostic systems segment, PCR and microarray systems are gaining importance as powerful tools for food analysis as they provide high analytical precision, user-friendly procedures, and accurate output in food diagnosis.

The type of test segment valued around USD 6.46 Billion in 2017

Type of test segment is divided into segments such as safety and quality. The type of test segment is dominating the market in 2017. Growing awareness about food safety in emerging markets have led to the development of food diagnostics systems. They identify food impurities and contamination that occur during manufacturing, processing, and packaging stages.

The meat, poultry, & seafood products segment held the largest market share of 28.90% in 2017

Food tested segment includes meat, poultry, & seafood products, dairy products, processed foods, cereals & grains, fruits & vegetables and others. The meat, poultry, & seafood products segment is dominating the market in 2017. The contamination of meat & poultry products is often observed during processing, packaging and storing. The Food Safety and Inspection Service (FSIS) has framed regulations to stop the contamination of meat & poultry products in slaughterhouses and processing plants, based on the HACCP food safety control system.

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Regional Segment Analysis of the Food Diagnostics Market

North America (U.S. , Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. European region dominated the global food diagnostics market in 2017 with USD 4.42 Billion whereas the Asia Pacific rapidly growing region in the market. The European market accounted for the largest share in the food diagnostics market. As many countries in Europe have observed several issues related to food safety over the past few years, therefore, government have implemented strict policies emphasized by the National Reference Laboratories (NRLs) and the European Reference Laboratories (EURLs) to maintain food standard and to ensure food safety solutions for the consumers. Asia-Pacific is growing rapidly in the market. Due to the high contribution from India and china, the growth of the food diagnostics systems market is expected in Asia Pacific in the coming years.

About the report:

The global food diagnostics market is analysed on the basis of value (USD Billion), volume (K Units), consumption (K Units), imports (K Units) and exports (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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Global Food Diagnostics Market is Expected to Reach USD 20.2 Billion by 2025 : Fior Markets

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