by Food diagnostics comprise testing technologies and solutions utilized to check the safety and quality of food products. Technological advancements have enabled the development of rapid, accurate and portable diagnostic devices that can detect pathogens such as E. coli, Salmonella, Listeria monocytogenes and others in less than 24 hours. Traditional lab-based testing requires skilled personnel and takes longer turnaround times. On the other hand, newer on-site diagnostic devices provide faster results and allow monitoring throughout the supply chain from processing plants to retailers. This ensures unsafe foods don’t reach consumers. Growing awareness about foodborne illnesses and stringent regulatory norms are fueling the demand for advanced food diagnostics worldwide.
The global food diagnostics market is estimated to be valued at USD 17.45 Bn in 2024 and is expected to reach USD 29.33 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Key Takeaways
Key players operating in the Food Diagnostics market are Ring Biotechnology Co Ltd., Thermo Fisher Scientific Inc., Danaher, Merck KGaA, Neogen Corporation, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Shimadzu Corporation, BioMerieux, Bruker, QIAGEN, PerkinElmer Inc., FOSS, Hygiena LLC, R-Biopharm AG, Romer Labs Division Holding, EnviroLogix, Randox Food Diagnostics (Ireland), Promega Corporation, and PathogenDx Corporation.
Rising globalization of Food Diagnostics Market Demand trade and complex global supply chains have increased the risk of food contamination. This is boosting demand for more sensitive and accurate diagnostics for early detection of pathogens. Major players are investing in R&D to develop new rapid testing technologies to meet regulatory requirements.
The food diagnostics market is witnessing increasing consolidation as large players acquire smaller innovators to complement their product portfolios. Companies are also expanding their geographical footprint into emerging markets of Asia Pacific, Middle East, and South America through new facilities, collaborations and distribution networks. This is expected to drive the global market growth during the forecast period.
Market Key Trends
The rise of digital food diagnostics platforms represents a major trend in the industry. Major players are launching connectivity solutions that integrate diagnostic devices, laboratory instruments, and cloud-based software for real-time data analysis and reporting. This allows remote monitoring of tests performed worldwide. Digital technologies improve access to diagnostics in resource-limited areas and enable earlier detection of foodborne disease outbreaks across borders through analytics of dispersed data. Integration of AI and machine learning algorithms in digital platforms will offer more predictive insights into food safety risks. Such advancements in rapid methods and digitalization will transform the food diagnostics landscape in the coming years.
Porter’s Analysis
Threat of new entrants: The high initial setup costs and stringent government regulations acts as entry barriers for new players in the food diagnostics market.
Bargaining power of buyers: The presence of multiple players in the market allows buyers to negotiate prices by comparing products and services offered by various vendors.
Bargaining power of suppliers: The availability of alternative suppliers of raw materials and other manufacturing inputs gives suppliers a low bargaining power.
Threat of new substitutes: With technological advancements, alternative testing solutions poses a potential threat.
Competitive rivalry: The market is moderately fragmented with the presence of global as well as regional players.
Geographical Regions
North America accounts for the largest share of the Food Diagnostics Market Regional Analysis owing to stringent food safety regulations and advanced infrastructure for testing. The region is expected to grow at a CAGR of 7% during the forecast period.
Asia Pacific is poised to be the fastest growing market for food diagnostics stimulated by growing middle class population, rising consumption of packaged food and strengthening regulations on food safety in major countries like China and India. Rapid industrialization and governmental initiatives are attracting investments in the emerging countries of Asia Pacific.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author - Priya Pandey
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