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Food Diagnostics Market to Witness Astonishing Growth by 2025

(Food-Beverage-News.Com, October 25, 2021 ) Increasing instances of foodborne outbreaks is driving the market growth

The global food diagnostics market size is projected to grow from USD 13.5billion in 2020 to USD 19.2billionby 2025, recording a compound annual growth rate (CAGR) of 7.2% during the forecast period. The growth of commercial food services over the years have led to potential increase in the possibility of transmission of foodborne infections from handlers to consumers, which in turn is expected to drive the growth of food diagnostics market. However, lack of food control infrastructure in developing countries and comparatively higher prices of rapid technologies will certainly act as major restraints for the market growth.

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The Asia Pacific is projected to be the fastest-growing market during the forecast period

The Asia Pacific is projected to be the fastest growing market for food diagnostics in the forecast period. This is attributed to governmental authorities governing food safety systems in China, increased expenditure on food safety by FSSAI in India and major efforts by regulatory bodies to address current issues associated with food safety and quality. China is projected to be the largest and fastest growing market in Asia Pacific followed by Japan.

The food diagnostics marketcomprises of major players, such as 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). The study includes analysis of these players in the food diagnostics market, with their company profiles, recent developments, and the key market strategies.

The meat, poultry, and seafood segment, by food tested is projected to grow at a higher growth rate during the forecast period

Food recalls due to microbiological contamination of meat, poultry and seafood products has led to various regulations being framed by the FSIS to control the contamination of meat and poultry products in slaughterhouses and processing plants is projected to drive the growth of safety testing for meat, poultry, and seafood segment in the food diagnostics market.

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The systems segment, by type dominated the food diagnostics market throughout the forecast period

Systems such as hybridization-based, spectrometry-based, chromatography-based and immunoassay-based are rapid, easy-to-use, and convenient and provide accurate test results. Due to these factors, systems are projected to dominate the market during the forecast period. Furthermore, the increasing number of COVID-19 cases is creating a consumer shift toward tested and contaminant-free food to boost immunity, which is projected to drive product innovation and the launch of new rapid systems for faster and accurate results.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Mr. Aashish Mehra


Source: EmailWire.Com
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