FOOD DIAGNOSTICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Regional Analysis

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North America dominates the global food diagnostics market. The region is expected to account for 37.5% of the market share in 2024. The large size of the region's food industry coupled with stringent government regulations has led to the widespread adoption of advanced food diagnostics solutions across all verticals such as meat, poultry, seafood, dairy, processed food, and grains & cereals. Major global players have established their headquarters as well as R&D centers in the region in order to cater to the demand from local players and tap into new opportunities. Furthermore, the presence of a strong economy allows companies to continuously invest in the latest technologies, developing customized solutions for various industry players.

On the other hand, Asia Pacific has emerged as the fastest growing region over the past few years. Countries, such as China, India, and Indonesia, are witnessing robust economic expansion along with rising disposable incomes. This has increased the demand for safe, nutritious, and high-quality food. Local producers are contracting international players to overhaul their quality control processes and install advanced diagnostics platforms to comply with rising sanitary standards. Additionally, governments in the region are collaborating with international agencies to implement effective regulations for curbing food fraud and contamination incidents. The young demography also indicates a thriving market in the future. The region has now become an export and manufacturing hub for many multinational food corporations. However, pricing pressure exists as local players are opting for affordable solutions.