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Food Diagnostics Market

Food Diagnostics Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Food & Beverage | Author Name: Mohit

Food Diagnostics Market: Overview

The market size for food diagnostics was USD 14.8 billion in 2021, and it is projected to grow at a CAGR of 6.5 percent during the forecast period. There is a strong correlation between the growth of the food diagnostic market and the increasing prevalence of food-borne diseases across the globe. As a result of strict government food regulatory policies designed to prevent the further spread of illnesses on a national or global scale, the market is expected to accelerate further in the forecast period. A number of key players in the food-tech sector have opened up lucrative opportunities with technological advances. Due to the global pandemic outbreak and the increasing globalization of the food trade, there is intense concern about the hygiene of food products, fueling the market for food diagnostics, which is expected to grow in the coming years.

Manufacturers will be compelled to enhance food safety at the consumer level due to increased food safety concerns by focusing on preventing contamination and using hygienic practices. New, improved, user-friendly, and cost-effective diagnostic kits and assays will be necessary to monitor food samples. Market growth will be facilitated by rapid technologies and culture-independent diagnostic tests, such as PCR assays and antigen-based tests. There is a significant increase in the use of rapid technologies and culture-independent diagnostic tests. For instance, in March 2020, in a move that will strengthen the company's food safety testing kit portfolio, Thermo Fisher Scientific Inc. (US) acquired Qiagen (Germany), a provider of molecular diagnostic assays. Moreover, with consumers becoming more interested in the origins and production of their food, food diagnostics are becoming more common. Food quality and safety can be assessed using a variety of tests, including tests for pathogens, toxins, allergens, and genetically modified organisms. Laboratories that provide these services can help consumers and businesses ensure their food meets their expectations.

In September 2019, it was decided to form a partnership with Wageningen University & Research to improve its research and development capabilities and enhance the company's product innovation capabilities. Many of the leading competitors in the market are forming alliances so that technology can be implemented to facilitate faster and more accurate results, thus expanding the market for food diagnostics. The technological focus has shifted away from traditional testing procedures toward automated and new technologies. For example, in 2019, due to the launch of 3M molecules detection technology, the company strengthened its technological base and can now cater to a wide range of food grading screening processes in laboratories.

Food Diagnostics Market: COVID-19 Impact

The COVID-19 pandemic has caused lockdowns in most countries to prevent the spread of the virus, which has impacted industries across the board. Due to the outbreak of COVID-19, the growth of the food diagnostics market worldwide has caused extreme uncertainty. The food and beverage industry is important in maintaining food movement along the food chain. In order to manage food safety risks and prevent food contamination, food product manufacturers have developed Food Safety Management Systems (FSMS) based on the Hazard Analysis and Critical Control Point (HACCP) principles, which are expected to positively influence the global market for food diagnostics over the next few years.

Food Diagnostics Market: Drivers

Globalization and Growing Concerns About Food Safety to Drive Market Growth

Growth in the market is primarily due to the demand for better quality food and rising health concerns. Government-imposed regulations are designed to prevent foodborne diseases. As the global food trade grows, growing consumer concerns about food safety will lead to a high demand for food diagnostic services over the next few years. Increasing food recalls have raised concerns about the quality and safety of food products, prompting increased emphasis on microbiological testing and chemical analysis to ensure food safety compliance. In response, legislation has been introduced for rigorous testing of food products, leading to a growing demand for food diagnostics. As a result of these recalls, food industry trends and common problems regarding food safety have been highlighted, which has led to the need for preventative measures, thus further driving the need for food diagnostics.

Technological Innovations in Testing Driving Market Growth

With increased food safety concerns, manufacturers will have to focus on contamination prevention and hygienic practices to improve food safety at the consumer level, leading to a need for new, improved, user-friendly, and cost-effective diagnostic kits and assays to monitor food samples effectively. This will provide a number of opportunities for advancement. As rapid technologies and culture-independent diagnostics become increasingly popular, PCR assays and other antigen-based diagnostics are becoming increasingly popular. To track the causes of foodborne illnesses more efficiently and quickly, regulatory agencies like the FDA, CDC, and USDA are also using modern technology such as whole-genome sequencing. There has been a shift in technology from traditional testing methods to automated and new technologies. Many of the largest competitors in the food diagnostics market are forming alliances, allowing technologies to be integrated to produce faster and more accurate results, thus expanding the market for food diagnostics. The technological focus has shifted from conventional testing methods to automated and novel technologies. In addition to partnerships with key players in the market, technologies are being integrated to deliver faster and more accurate results, providing the food diagnostics market with further growth opportunities.

Food Diagnostics Market: Restraints

Technologies with a High Cost to Hamper Market Growth

A high cost can be associated with high-end technology instruments and consumables used for effective testing of food samples, such as chromatography-based and spectrometry-based. As a result of the increased focus on research and development activities, along with the requirement for accuracy and reliability in readings, these diagnostic systems are also becoming more expensive. Since most of these testing instruments are exported in large quantities from developed regions like North America and Europe, they are more costly to procure, especially in low- and middle-income countries. Food diagnostic systems face these challenges when it comes to mass adoption. In addition, obtaining these analytical instruments becomes increasingly expensive, especially in low- and middle-income countries, since most of these instruments are bulk from affluent regions like North America and Europe. Food diagnostic systems are difficult to use widely because of these factors.

Food Diagnostics Market: Segment Overview

Systems to Dominate the Market due to their Easy Use

Providing accurate test results and being easy to use. Increasing demand for rapid, easy-to-use, convenient, and easy-to-use diagnostic systems, such as immunoassays, PCR systems, PCR-based testing kits, and biosensors, is expected to drive market growth for food diagnostic systems. It is believed that the growing demand for rapid technologies will largely drive growth in this segment. However, these technologies will not be mass adopted because of their high cost.

With Increased Demand for Meat Products, Meat, Poultry, and Seafood Category Dominated Market

In the forecast period, the meat, poultry, and seafood segment held the largest market share, and it is anticipated that it will continue to rule the market during the forecast period. The testing of meat speciation in all its forms is a standard procedure utilized to prevent fraud, especially adulteration of meat, from affecting consumers. Genetically modified soybeans and soybean meal are frequently fed to animals. Some processed meat and meat products, including ham and sausages, are genetically modified during processing. In addition to many additives found in hams and sausages, these additives are commonly produced using technologies involving genetically modified microbes. Food diagnostics technology is often used to identify meat based on species-specific proteins or DNA analysis. Several factors support the expansion of the worldwide chilled processed food market, including the convenience of cooking with chilled processed foods and the ability to prepare food quickly. Furthermore, the increasing disposable incomes of consumers and an expanding population have increased the demand for chilled processed foods, which has accelerated the market's growth.

Food Diagnostics Market: Regional Landscape

Europe to Dominate Market due to Stringent Regulations

Over the forecast period, it is anticipated that the Europe market will account for the largest revenue share. Regulatory and authoritative bodies in this region have enacted stringent regulations, which are responsible for the large market share in this region. Additionally, recent foodborne outbreaks in Spain and increasing meat contamination in the UK are also anticipated to drive the growth of the European food diagnostics market. Numerous food-safety challenges have been faced in European countries in the last few years, which have led to strict measures being enacted. Europe holds the largest share of the market for diagnostic services for food. Control Labs, National Reference Labs, and EU Reference Labs have established food safety procedures throughout Europe. In order to maintain the regularity of the food supply chain, these organizations play a critical role in ensuring food safety and public security. The European market for food testing services will grow at an explosive rate.

The North American market is anticipated to experience stable revenue growth throughout the forecast period due to a growing demand for food and beverages, particularly processed food, due to changing lifestyles and time constraints. The hectic lifestyle and dependency on processed foods are rising, which drives the sales of such products in the market. Due to the high number of food-related diseases among children and teenagers, the need for food testing is growing in this region as production and consumption increase. Moreover, the Asia-Pacific region is expected to grow steadily due to the fact that food safety is not strictly adhered to in most countries. Governments and food regulatory agencies do not take adequate steps to ensure that food is free of viruses and threats that may cause illnesses related to food consumption.

Global Food Diagnostics Market: Competitive Landscape

As of March 2020, Thermo Fisher Scientific Inc. (US) will have acquired Qiagen (Germany), which provides molecular diagnostic assays. This acquisition will boost the company's food safety test kits portfolio. Moreover, In September 2019, Biorex Food Diagnostics (UK) partnered with Wageningen University & Research, providing the company with a stronger R&D base and better product innovation capabilities.

Few of the players in the food diagnostics market include 3M (US), Thermo Fisher Scientific Inc. (US), PerkinElmer Inc. (US), Danaher Corporation (US), Shimadzu Corporation (Japan), Agilent Technologies Inc. (US), bioMerieux SA (France), Bio-Rad Laboratories, Inc. (US), Neogen Corporation (US), Foss (Denmark), Biorex Food Diagnostics (UK), and Randox Food Diagnostics (Ireland)

Global Food Diagnostics Market is Segmented as Below:

By Type

  • Systems
  • Test Kits
  • Consumables

By Site

  • Outsourcing Facility
  • Inhouse

By Testing Type

  • Safety
  • Quality

By Food Tested

  • Meat, Poultry, and Seafood
  • Processed Food
  • Dairy Products
  • Fruits & Vegetables
  • Cereals, Grains, and Pulses
  • Nuts, Seeds, and Spices
  • Other Food Tested

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Food Diagnostics Market

  • Food Diagnostics Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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