According to the current analysis of Reports and Data, the global Food Diagnostics for Consumables Market was valued at USD 11.76 Billion in 2018 and is expected to reach USD 20.75 Billion by year 2026, at a CAGR of 7.35%. The rising contaminants cases, increasing instances of mislabeling, growing food borne diseases and mounting consciousness among the consumers about the food safety are the key factors driving the demand for diagnostic testing market. Contaminants and chemicals which enters during manufacturing process are considered to be the significant cause for food poisoning which may increase the necessity of testing and diagnostics during the forecasted period. Meat, poultry, sea-food are expected to dominate the safety testing market for eatables. Additionally, escalating demand for pesticides residue other contaminants testing will enhance the industry progress over the forecasted time frame.
Top Companies Operating in the Global Food Diagnostics for Consumables Market Report:
3M, Merk Kgaa, Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies Inc., Biomrieux S.
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Further key findings from the report suggest
- Global Food Diagnostics for Consumables Market from pathogens generated over USD 6.05 billion revenue in 2018. Pathogens can be found in multiple categories such as meat, dairy, processed items, and fruits vegetables.
- Meat, poultry, sea-foods dominates the global diagnostic industry and is anticipated to reach around USD 7.06 billion in 2026.
- Asia Pacific region is expected to show the fastest market growth of CAGR 8.0% from 2018 to 2026. The region presents immense scope for market development, owing to the increasing urban population size, and favorable investments by the government, among others.
- In November, 2016 3M launched 3MTM Molecular Detection Assay 2-Cronobacter to enhance its molecular detection system pathogen testing platform displaying the collaborative efforts of key players to enhance the diagnostics industry.
- The key players have ramped up their mergers acquisition strategy over the recent years, in order to generate public awareness about their existing and new products and also in technologies. For instance, In November 2017, Eurofins Scientific acquired Spectro Analytical Labs Ltd. ("Spectro) to expand their testing services in India.
- Diagnostics market from genetically modified organisms (GMOs) is projected to witness around 7.5% CAGR from 2018 to 2026. Changing government regulations on GMO labeling may augment the industry growth in upcoming years.
- Rapid inspection technology is projected to witness over 7.5% CAGR up to 2026. Immunoassay and PCR techniques hold a significant share of rapid technologies.
- In some countries, fresh fruit and vegetables can be exposed to adulteration to enhance their appearance. For example, bananas and mangos have been known to be subjected to carbide, a chemical used to ripen fruit artificially. In recent years, almond powder has been known to be substituted with less expensive peanut powder, posing considerate adulteration and allergen risks to consumers with food allergies and this trend will makes consumers more aware of what they eat and may help to proper the industry
- Contamination of meat, and meat products have resulted in serious health issues, thus enhancing the demand for tested products. Shifting trend towards processed meat products in Asia Pacific, and Middle East Africa along with the necessity to improve the regulatory framework on safety of eatables will drive the diagnostic market.
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For the purpose of helping readers make profitable business decisions, the report is written with industry analysts, market segmentation, and data collection. In addition to providing detailed information on technical and product advances, this report also discusses market value, growth rates, and niche market segments in detail.
An analysis of the Food Diagnostics for Consumables Market has been carried out by segmenting it into key regions and offering information on growth rates, market shares, current and emerging trends, production and consumption ratios, analysis of the industrial chain, demand and supply, imports and exports, revenue contributions, and the presence of key players in each region. To gain a better understanding of the regional spread of and progress of the Food Diagnostics for Consumables Market, a country-by-country analysis of the market is provided in the report.
The global Food Diagnostics for Consumables Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type (Revenue, USD Million; 2018–2026)
Diagnostics System (Revenue, USD Million; 2018–2026)
- Hybridization Based
- Chromatography Based
- Spectrometry Based
- Immunoassay Based
- Testing Kits
Food Tested (Revenue, USD Million; 2018–2026)
- Meat, Poultry and Sea-food Products
- Processed Food
- Fruits and Vegetables
- Dairy Products
- Cereals and Grains
Test Type (Revenue, USD Million; 2018–2026)
Contaminants Type (Revenue, USD Million; 2018–2026)
- Genetically Modified Organisms (GMOs)
Technology Used (Revenue, USD Million; 2018–2026)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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