Global Food Diagnostics Services Market estimated value was at USD 14.8 Billion in 2022 and is projected to reach USD 21.6 Billion by the end 2032. Newly released data for Global Food Diagnostics Services Market Analysis shows that global demand for food test kits enjoyed year-on-year (YoY) growth of 11% in 2021. It holds 21% of the Food Diagnostics Services Market and is expected to witness a prominent growth rate of 7.2% by 2032.
| Attribute | Details |
|---|---|
| Food Diagnostics Services Market Size Value in 2021 | USD 14.8 Billion |
| Food Diagnostics Services Market Forecast Value in 2032 | USD 21.6 Billion |
| Global Growth Rate (2022 to 2032) | 7.4% CAGR |
| Forecast Period | 2022 to 2032 |
Revenue for food diagnostic service segment grew by 14% during the period 2017 to 2021. The Demand for consumables segment increased 19% between 2020 and 2021, giving the combined Food Diagnostics Services Market a year-over-year growth of 5.7% in 2021, according to the FMI report.
According to Future Market Insights analysis, Randox Laboratories Ltd, 3M Company, Neogen Corporation, Foss A/S, Thermo Electron Corporation, Fermantes, Danaher Corporation, Biomérieux SA, Merck Kgaa, Beckman Coulter Inc., Thermofisher Scientific Inc., and Perkinelmer Inc are identified as key food diagnostics brands.
In 2021, Asia Pacific Food Diagnostics Services Market grew by 8.4% year on year, bucking initial scepticism about how the market would perform during a global pandemic. Across North America, total demand/sales of diagnostics systems reached USD 3.8 Billion
In terms of product type segment of Food Diagnostics Services Market, food safety systems and food quality services collectively accounted for USD 4.3 Billion in 2021, according to the Annual Market Analysis conducted by Future Market Insights.
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 7.3% |
| H1,2022 Projected (P) | 7.4% |
| H1,2022 Outlook (O) | 8.1% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 74 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (+) 81.4 ↑ |
The global market for Food Diagnostics Services Market is witnessed H1 2021 growth at magnitude of 7.3%. However, this growth is not evenly spread across all regions, with the developing markets recording higher growth rates of 7.4% (H1 2022 Expected). Thus, leaving the gap of +81.4 BPS points between expected and projected growth during H1 2022.
As food becomes more complex and consumers demand more transparency about their food, the need for food diagnostics services has grown. There are a number of different types of tests that can be conducted in order to assess the quality, safety, and authenticity of foods. Laboratories that offer these services can help businesses and consumers ensure that they are getting what they expect from their food.
The use of food diagnostics is becoming more common as consumers become more interested in where their food comes from and how it is made. There are a number of different tests that can be used to assess the quality and safety of foods, including tests for pathogens, toxins, allergens, and GMOs. Laboratories that offer these services can help businesses and consumers ensure that they are getting what they expect from their food.
Food diagnostics services can also be used to detect fraud.
The market's growth is mostly driven by the demand for better quality food and rising health concerns. Government-imposed strict regulations are aimed at preventing foodborne diseases.
This is projected to drive the market's growth. Food diagnostic services will be in high demand as consumer concerns about food safety grow. In the coming few years, the rising global food trade will boost growth opportunities.
Increased focus on biological quality and chemical compositions of food to ensure compliance with laws regarding food standards has resulted in rising concerns about the quality and efficiency of food products.
As a result, legislation requiring thorough testing of food products has been enacted, resulting in an increase in demand for food diagnostics. These food recalls reveal patterns and prevalent issues in the food business towards food safety issues
Food safety is expected to be affected due to a lack of stringent control techniques and capabilities to maintain food safety across the food chain. Because of a lack of suitable infrastructure, expertise, and current food manufacturing and monitoring standards, the growing number of small-scale manufacturers in developing nations are usually sources of unhealthy food.
Small-scale food producers in underdeveloped nations may not have followed rigorous food testing procedures which in turn puts food at danger of contamination. This is a significant aspect that is expected to limit market expansion.
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Enhanced food security concerns will persuade manufacturers to develop food safety measures at the customer level by focusing on contamination prevention and hygiene standards that will enable improved, consumer-friendly, and cost-effective food diagnostic kits to allow successful food sample testing.
This would provide the industry with several growth opportunities. Rapid innovations and lifestyle diagnostic methods, such as PCR techniques and other antigen-based diagnostics are becoming increasingly popular.
Regulatory agencies such as the FDA, CDC are employing modern technology such as whole genetic decoding to track the causes of food illnesses more quickly and efficiently.
The technological focus has shifted away from traditional testing procedures towards automated and new technologies. Many leading competitors in the market are forming alliances that will result in the implementation of technology for faster and more accurate results, thereby expanding the market for food diagnostics.
Foodborne disease is becoming more common around the world and people are becoming more aware of food safety, hence the worldwide demand for food diagnostics services is predicted to grow. Furthermore, over the projected period, the market is anticipated to be driven by stringent food safety and preservation standards adopted across the globe. In addition, there is an availability of a wide range of testing technologies and methodologies.
On the other hand, differences in standards and sample selection procedures may limit the total market's growth. However, the market is likely to rise throughout the forecasted period due to the introduction of premium and rapid technological development coupled with increased awareness about food security, nutrition, and quality.
Rising technological development such as chromatography-based and spectrometry-based technological advancements are coupled with high prices for equipment and accompanying consumables necessary for successful analysis of packaged food. A rise in the prices of such diagnostics systems is due to a greater focus on research and development activities, as well as the need for precision and accuracy of readings.
Since a majority of these analytical instruments are shipped in mass quantities from affluent regions such as North America and Europe, the cost of obtaining these technologies rises, particularly in low- and middle-income countries. These factors make widespread use of food diagnostic systems difficult.
Thermo Fisher Scientific: In the year 2020, the company acquired a German firm named Qiagen which is a global supplier of molecular diagnostic technological instruments. This acquisition will empower the company’s manufacturing plant, which will enable the company to produce food testing kits.
Biorex Food Diagnostics: In the year 2019, the company came into a partnership with Wageningen University. This partnership will provide the company to expand its research and development capabilities and innovate new products.
3M: In the year 2019, the company launched 3M molecules detection technology that will provide strength to the company’s technological base and will enable it to cater to many screening processes of food grading in labs.
PerkinElmer: In the year 2019, the company launched AuroFlow AQ strip test that is invented to screen the toxic compounds in corn. This technology will enable the company to expand its legs in grain toxic testing kits.
The European economy holds the highest market share for food diagnostics. The region's substantial market share can be linked to the region's legal and authoritative entities enforcing strict restrictions.
Apart from that, recent infectious food borne in Spain and rising meat exposure to contamination in the UK are anticipated to propel the growth of the European Food Diagnostics Services Market.
Europe is known to have the biggest share in the marketplace for food diagnostics services. Numerous food-safety challenges were faced in European countries during the last few years. As a result of which strict measures were enacted in the region.
Control Labs, National Reference Labs, and EU Reference Labs have all established food safety procedures across Europe. By assuring food safety and public security, these organizations play a critical role in maintaining the regularity of the food supply chain. This will accelerate the growth of the European market for food testing services.
| Attribute | Details |
|---|---|
| Market Size Value in 2021 | USD 14.8 Billion |
| Market Forecast Value in 2032 | USD 21.6 Billion |
| Global Growth Rate | 7.4% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America, Latin America, Europe, Japan, APEJ and MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, EU5, Russia, Poland, China, ASEAN, Australia and New Zealand, Japan, GCC countries, Ethopia, North Africa, South Africa, others. |
| Key Market Segments Covered | Product Type, Material type, Mode of operation, Application, Region |
| Key Companies Profiled | Randox Laboratories Ltd; 3M Company; Neogen Corporation; Foss A/S; Thermo Electron Corporation; Fermantes; Danaher Corporation; Biomérieux SA; Merck Kgaa; Beckman Coulter Inc.; Thermofisher Scientific Inc.; Perkinelmer Inc; Others |
| Pricing | Available upon Request |
The global market value is set to reach USD 21.6 billion by 2032.
Until 2032, the overall demand could progress at 7.4% CAGR.
Between 2017 and 2022, the overall market developed at 14% CAGR.
Strict federal laws in North America generate a higher demand for such services.
Targeting small-scale food producing industry segment.
Rising international trade in food and agricultural products.
Food safety systems and food quality services are the leading segments in performance.
| Estimated Market Size (2024E) | USD 6220 million |
|---|---|
| Projected Market Value (2034F) | USD 13060.1 million |
| Value-based CAGR (2024 to 2034) | 7.7% |
| Estimated Market Size (2024E) | USD 105.2 million |
|---|---|
| Projected Market Value (2034F) | USD 163.4 million |
| Value-based CAGR (2024 to 2034) | 4.5% |
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