Food Diagnostics Market Size, Share, Growth Drivers, Segmentation, and Leading Players

/EIN News/ -- Chicago, March 27, 2024 (GLOBE NEWSWIRE) -- The Food Diagnostics Market refers to the industry involved in the development, production, and distribution of diagnostic tools and technologies used in the food industry. These tools are designed to ensure the safety and quality of food products by detecting contaminants, pathogens, allergens, and other undesirable substances. Food diagnostics encompasses a wide range of techniques, including molecular diagnostics, immunoassays, chromatography, and spectroscopy. The global food diagnostics market is estimated at USD 16.2 billion in 2023 and is projected to reach USD 23.5 billion by 2028, at a CAGR of 7.7% from 2023 to 2028.

This market plays a crucial role in safeguarding public health, enabling food manufacturers, processors, and regulatory authorities to identify and mitigate potential risks in the food supply chain. With increasing concerns about food safety and regulatory standards worldwide, the food diagnostics market continues to grow, driven by technological advancements, stringent regulations, and rising consumer awareness.

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Food Diagnostics Market Growth Drivers

• Stringent Food Safety Regulations: Governments worldwide are implementing stricter regulations to ensure the safety and quality of food products. Compliance with these regulations necessitates the use of advanced diagnostic technologies, fueling market growth.
• Increasing Incidences of Foodborne Illnesses: Rising awareness about foodborne diseases and outbreaks has heightened the demand for effective diagnostic solutions. Food diagnostics help identify pathogens and contaminants, enabling timely interventions to prevent illness outbreaks.
• Globalization of Food Trade: With the expansion of international food trade, there's a greater need for standardized testing methods to ensure consistency and compliance with regulatory requirements across borders, driving the adoption of food diagnostics.
• Technological Advancements: Continuous innovation in diagnostic technologies, such as PCR, immunoassays, biosensors, and rapid testing methods, enhances the accuracy, sensitivity, and speed of food testing, thereby driving market growth.
• Consumer Awareness and Demand for Quality: Growing consumer concerns about food safety and quality have led to increased demand for transparent and trustworthy food products. Food diagnostics reassure consumers about the safety and authenticity of the products they consume, thereby driving market growth.
• Emergence of Food Allergen Testing: With the rising prevalence of food allergies and intolerances, there's a growing demand for food allergen testing solutions. This segment within food diagnostics is experiencing significant growth due to increased regulatory scrutiny and consumer awareness.

North America is estimated to have a significant market share in the global food diagnostics market

The stringent food safety regulations and their unwavering enforcement in the North American region have been instrumental in driving the demand for advanced food diagnostics technologies. Regulatory bodies such as the FDA in the United States and CFIA in Canada continually advocate for more rigorous monitoring and testing protocols, effectively compelling the adoption of cutting-edge food diagnostics solutions. The steadfast commitment to ensuring the safety and quality of food products places North America at the forefront of this burgeoning industry.

Additionally, North American consumers have become increasingly conscious of food safety issues and are placing a growing emphasis on healthy eating. This awareness has created a pressing need for greater transparency in the food supply chain. Consumers are scrutinizing the origin, quality, and safety of their food like never before. Consequently, the market for food diagnostics services has witnessed substantial growth as it offers consumers the assurance and peace of mind they seek when making food choices.

Top Companies in the Food Diagnostics Market

• Bio-Rad Laboratories Inc. (US)
• Thermo Fisher Scientific Inc. (US)
• Shimadzu Corporation (Japan)
• Neogen Corporation (US)
• BioMerieux (France)
• Agilent Technologies Inc. (US)
• Merck KGaA (Germany)
• QIAGEN (Germany)
• Bruker (US)
• Danaher (US)

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Food Diagnostics Market Segmentation

By Type

• Systems
• Test Kits
• Consumables

By Testing Type

• Safety
• Quality

By Site

• Outsourcing Facility
• Inhouse

By Food Tested

• Meat, poultry, and seafood
• Dairy products
• Processed food
• Fruits & vegetables
• Cereals, grains, and pulses
• Nuts, seeds, and spices
• Other food tested

By Region

• North America
• Europe
• Asia Pacific
• South America
• Africa
• Middle East

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