The global Food Diagnostics Market size was worth 16.09 billion in 2022 and is expected to grow to USD 31.58 billion by 2032, at a CAGR of 7.1% during the forecast period.
Global Food Diagnostics Market: Overview
Food diagnostics is a field of research that studies the presence of pollutants, adulterants, and other substances in food. This includes detecting and measuring the levels of these substances in food samples using various analytical techniques and technology. Food Diagnostics' purpose is to verify the safety and quality of food items while also preventing food fraud and mislabelling. It includes using a number of techniques and technologies to identify and measure various food components such as nutrients, pollutants, pathogens, and allergies. Chromatography, mass spectrometry, PCR (polymerase chain reaction), ELISA (enzyme-linked immunosorbent test), and NMR (nuclear magnetic resonance) spectroscopy are some common methods used in Food Diagnostics.
Key Insights
- As per the analysis shared by our research analyst, the global Food Diagnostics market is estimated to grow annually at a CAGR of around 7.1% over the forecast period (2023-2032).
- In terms of revenue, the global Food Diagnostics market size was valued at around USD 16.09 billion in 2022 and is expected to grow to USD 31.58 billion by 2032.
- Based on type, the Systems segment was predicted to show maximum market share in the year 2022.
- Meat, poultry, & sea-foods segment is expected to hit around USD 8.9 billion by 2032.
- By Region, the Asia Pacific segment is expected to grow at the fastest CAGR of more than 9% Over the forecast period.
Growth factors
Because of changing lifestyles and time constraints, the market for food and beverages, particularly processed food, is increasing. The importance of fundamental food legislation and cleanliness in the processed food sector is growing. As a result of urbanisation and modernization, demand for processed foods is increasing. Furthermore, it will increase demand for nutrient-dense processed food in Europe and North America.
One of the important factors driving the growth of the global Food Diagnostics market is rising concern about food safety, as foodborne illness outbreaks continue, there is rising concern about the safety of the food we eat. Food diagnostics play an important role in detecting and preventing issues such as Salmonella and E. coli. Furthermore, governments across the globe are implementing more strict regulations to protect food safety and quality.
The strict safety rules for food are anticipated to fuel market growth because the regulator must verify that the food products on the market are fit for consumption. These factors are growing the demand for food diagnostics.
However, one of the main factors that could impede market growth over the projection period is the high cost connected with the Food Diagnostics process.
Global Food Diagnostics Market: Scope and Segment
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Attribute
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Details
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Market Size in 2022
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USD 16.09 billion
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Estimated Market Size in 2032
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USD 31.58 billion
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CAGR Growth Rate
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7.1% CAGR
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Base Year
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2022
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Forecast Years
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2023-2032
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Segment covered
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By Type (Systems, Test kits, Consumables),
By Site (Outsourcing facility, Inhouse), By Application (Meat and poultry, Processed food, Dairy products, and Others)
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Regions Covered
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- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East & Africa
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Companies Covered
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- 3M Company
- Thermo Fisher Scientific Inc.
- Merk Kgaa
- Danaher Corporation
- Agilent Technologies Inc.
- Biomerieux Sa
- Bio-Rad Laboratories, Inc.
- Neogen Corporation
- Biorex Food Diagnostics
- Randox Food Diagnostics
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Report Coverage
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Revenue Forecast, Company Share, Competitive Landscape, Growth Factors, Restraints, Opportunities, Value Chain Analysis, Porter’s Five Forces Analysis, Patent Analysis, Market Attractiveness Analysis by Segments
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Food Diagnostics Market Segment Analysis
Based on Type, The Systems segment led the global Food Diagnostics market with remarkable revenue share of more than 40% in 2022 and is anticipated to retain its dominance throughout the forecast period. growing demand for the various types of systems for Food Diagnostics boosting the growth of this segment.
Based on site, the outsourcing facility segment is anticipated to be the largest in the food diagnostics market During the expected period. The growing demand for fully integrated, self-contained, and specialized equipment for collecting and analysing food samples will drive the growth of outsourced food testing services. Improved international outbreaks of foodborne illnesses are predicted to remain the primary factor impacting the food diagnostics industry, consequently the outsourcing segment is expected to develop. Moreover, Food Diagnostics outsourcing firms provide key expertise for testing and ensuring food safety.
By Application (Meat and poultry, Processed food, Dairy products, and Others). During the projected period, the meat, poultry segment is predicted to capture the biggest market share.
Regional Analysis
In the global Food Diagnostics Market report major five regions and its countries have been covered. Market players will have estimates about the untapped regional markets and other benefits with the help of this analysis.
Because of the high demand for food testing, Europe holds the largest market share and dominates the food diagnostics industry. There are several countries in this region, including the UK, Germany, Spain, and others. Due to strict food safety rules, which are necessary for the regulator to verify that the food products on the market are safe, the Europe food diagnostics market is expected to grow.
During the forecast period, North America is considered as second largest region in the food diagnostics market. Due to changing lifestyles and time restrictions, there is a growing demand for food and beverages, particularly processed foods. The growing implementation of stringent government regulations related to food safety across the region is one of the significant factors boosting the growth of the market. Asia-Pacific is expected to grow at a sturdy rate as the food safety is not taken strictly in most of the countries.
Food Diagnostics Market Player’s Analysis
In finalizing their position in this market player positioning, recent events for these firms, such as new solution/product releases, marketing projects, R&D, partnerships, mergers & acquisitions, regional expansions, and technical innovations, are considered.
The report also includes detailed profiles of key players such as 3M Company, Thermo Fisher Scientific Inc., Merk Kgaa, Danaher Corporation, Agilent Technologies Inc., Biomerieux Sa, Bio-Rad Laboratories, Inc., Neogen Corporation, Biorex Food Diagnostics, Randox Food Diagnostics among other.
Global Food Diagnostics Market is segmented as follows:
By Type
- Systems
- Test kits
- Consumables
By Site
- Outsourcing facility
- Inhouse
By Application
- Meat and poultry
- Processed food
- Dairy products
- Others
By Region
North America
- The U.S.
- Canada
- Mexico
- Rest of North America
Europe
- U.K
- France
- Germany
- Italy
- Spain
- Rest Of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- South East Asia
- Rest Of Asia Pacific
Latin America
- Brazil
- Argentina
- Rest Of Latin America
The Middle East & Africa
- GCC Countries
- South Africa
- Rest Of Middle East & Africa
Frequently Asked Questions (FAQs):
What is the Size of Food Diagnostics Market?
The global Food Diagnostics market size was worth USD 16.09 billion in 2022 and is expected to grow to USD 31.58 billion by 2032
What will be the CAGR of global Food Diagnostics market?
The Food Diagnostics market is expected to drive growth at a CAGR of 7.1% from 2023 to 2032.
Who are the major players operating in the Food Diagnostics market?
3M Company, Thermo Fisher Scientific Inc., Merk Kgaa, Danaher Corporation, Agilent Technologies Inc., Biomerieux Sa, Bio-Rad Laboratories, Inc., Neogen Corporation, Biorex Food Diagnostics, Randox Food Diagnostics are the major players operating in the Food Diagnostics market.
Which region will lead the global Food Diagnostics market?
Europe dominated the global Food Diagnostics market in 2022.
Which is the fastest growing region in Food Diagnostics Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2032).