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

The global food diagnostics market has been witnessing significant growth over the past few years. Rising demand for fast and accurate testing of food samples to ensure food safety and quality has driven major diagnostics companies to invest in developing innovative solutions. Furthermore, growing international food trade and stringent food safety regulations in various countries have boosted the need for advanced analytical tools and technologies in the food industry. Various diagnostic techniques such as chromatography, microbiology culture, PCR, and immunoassays are commonly utilized to detect pathogens, toxins, GMOs, meat speciation, residues and allergens in food samples. Looking ahead, increasing health consciousness among consumers and greater focus on testing of raw materials as well as finished food products are expected to support ongoing expansion of the food diagnostics market in the coming years.

Market Dynamics:

The global food diagnostics market is driven by factors such as growing incidence of foodborne disease outbreaks, rising food trade activities, and stringent food safety regulations mandated by regulatory bodies worldwide. Moreover, increasing utilization of diagnostics for testing of raw materials, processed foods, and end products by food processing companies shields them from potential losses arising from product recalls. However, high costs associated with instruments and assays hamper the market growth. On the flip side, emerging economies offer lucrative opportunities for major players on account of rising health expenditure and improving diagnostic infrastructure in developing countries. In addition, market players are consistently focusing on development of portable, affordable and rapid diagnostics technologies to accelerate the food testing process, thereby offering new revenue streams in the foreseeable future.

Key Features of the Study:

• This report provides in-depth analysis of the global food diagnostics market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global food diagnostics market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Ring Biotechnology Co Ltd., Thermo Fisher Scientific Inc., Danaher, Merck KGaA, Neogen Corporation, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Shimadzu Corporation, BioMerieux, Bruker, QIAGEN, PerkinElmer Inc., FOSS, Hygiena LLC, R-Biopharm AG, Romer Labs Division Holding, EnviroLogix, Randox Food Diagnostics (Ireland), Promega Corporation, and PathogenDx Corporation
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global food diagnostics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global food diagnostics market

Detailed Segmentation:

• By Type
• • Pathogens Testing
  • Allergens Testing
  • Toxins/Contaminants Testing
  • Residues Testing
  • Others
• By Sample Type
• • Meat, Poultry, and Seafood
  • Dairy Products
  • Fruits and Vegetables
  • Processed Foods
  • Beverages
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
• • Ring Biotechnology Co Ltd.
  • Thermo Fisher Scientific Inc.
  • Danaher
  • Merck KGaA
  • Neogen Corporation
  • Agilent Technologies, Inc.
  • Bio-Rad Laboratories, Inc.
  • Shimadzu Corporation
  • BioMerieux
  • Bruker
  • QIAGEN
  • PerkinElmer Inc.
  • FOSS
  • Hygiena LLC
  • R-Biopharm AG
  • Romer Labs Division Holding
  • EnviroLogix
  • Randox Food Diagnostics (Ireland)
  • Promega Corporation
  • PathogenDx Corporation