(Entertainment-NewsWire.com, November 16, 2020 ) The report “Food Diagnostics Market by Type (Systems, Test Kits, Consumables), Test Type (Safety & Quality), Site, Food Tested (Meat, Bakery, Dairy, Processed Foods, Cereals & Grains, and Fruits & Vegetables), and Region – Global Forecast to 2025″, is projected to grow from USD 13.5 billion in 2020 to USD 19.2 billion by 2025, recording a compound annual growth rate (CAGR) of 7.2% during the forecast period. The major factors driving the growth of the food diagnostics market include the growing concerns associated with food safety and hygiene due to increasing number of COVID-19 cases and increasing globalization of food trade. The increasing cases of food recalls are also projected to drive the market growth.
Browse in-depth TOC on “Food Diagnostics Market”
148 – Tables 62 – Figures 281 – Pages
The hybridization-based sub-segment in the systems segment on the basis of type is projected to be the largest segment in the food diagnostics market during the forecast period.
Hybridization-based systems are further bifurcated into PCR systems, microarray systems, sequencers, and gene amplifiers. The growth of this segment is attributed to high analytical precision offered by hybridization-based systems. Growing demand of automated PCRs is also projected to drive the growth of this segment. PCR is projected to dominate the market followed by gene amplifiers.
The safety segment on the basis of testing type is projected to be the largest and fastest growing segment in the food diagnostics market during the forecast period.
The increasing number of food recalls and necessity to maintain trust and consumer confidence in safety and availability of food is projected to drive the demand of safety testing. Also, with the advent of the coronavirus, food safety is given greater importance by all the affected countries to prevent contamination of any food items.
The European region is projected to be the largest market for food diagnostics during the forecast period.
The European region is projected to be the largest market for food diagnostics during the forecast period. The region is witnessing growth owing to factors such as changing conditions under which food is processed, traded and distributed, accelerating globalization of the food chain and international trade of food and agricultural products. The region is also backed by the presence of key players such as Biorex Food Diagnostics (UK) and Randox Food Diagnostics (UK) in the food diagnostics market. The growing adulteration across meat products in the UK has also pushed the growth of the European food safety industry further driving the food diagnostics market. Germany is projected to be the largest market in Europe for food diagnostics followed by the UK.
Key food diagnostics market players 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). These players have adopted various growth strategies such as collaboration and new product launches to expand their presence in the global food diagnostics market further. New product launches have been the most dominating strategy adopted by major players. This strategy has helped them to increase their presence in different regions.
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.
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441