The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The food diagnostics market has experienced robust growth in recent years, fueled by stringent regulations, globalization of supply chains, and increasing consumer demand for transparency. Let’s explore the market trends, growth drivers, and innovations shaping the future of food safety diagnostics.

Current Market Landscape

Recent Performance (2023-2024)

• Market Size: Increased from $17.19 billion in 2023 to $18.51 billion in 2024.
• Growth Rate: Compound Annual Growth Rate (CAGR) of 7.7%.
• Key Factors:
  • Stringent Regulations: Compliance with food safety standards.
  • Globalization: Expansion of international food trade.
  • Consumer Demand: Transparency and authenticity in food products.
  • Adoption of Rapid Testing: Industry shift towards faster diagnostic methods.

Future Growth Prospects (2024-2028)

Anticipated Expansion

• Market Size: Expected to reach $25.1 billion by 2028.
• Growth Rate: CAGR of 7.9%.
• Key Drivers:
  • Allergen Detection: Rising concerns over food allergies.
  • On-site and Portable Diagnostics: Demand for convenience and accessibility.
  • Microbial Testing: Importance of identifying pathogens.
  • Traceability: Ensuring transparency across the supply chain.
  • Organic and Natural Foods Market: Growing preference for healthy food options.

View More On The Food Diagnostics Market Report 2024 –
https://www.thebusinessresearchcompany.com/report/food-diagnostics-global-market-report

Emerging Trends

• Technological Convergence: Integration of diverse diagnostic technologies.
• Digitalization of Documentation: Streamlining data management.
• Rapid Testing Technologies: Accelerating diagnostic processes.
• Point-of-Care Diagnostics: On-the-spot testing for enhanced efficiency.
• Biosafety Level Enhancement: Ensuring safety in laboratory environments.
• Remote Sensing Technologies: Monitoring food safety remotely.

Rising Concerns Over Food Adulteration

Market Catalyst

• Increasing Cases: Surge in food adulteration incidents.
• Impact: Diminished food quality and safety.
• Example: Estimated global cost of food fraud reaching $10-$15 billion per year.

Innovations Driving Market Growth

Industry Focus

• Product Innovations: Introduction of advanced diagnostic systems.
• Example: Roche Holding AG’s launch of the lightcycler PRO qPCR system.
• Strategic Acquisitions: Expansion of product portfolios through acquisitions.
• Example: Neogen Corporation’s acquisition of Megazyme Ltd.

Market Segmentation

The food diagnostics market is segmented based on:

• Type: System, Test Kits, Consumables
• Types of Tests: Food Safety, Authenticity, Shelf Life
• Site: In-house, Outsourcing Facilities
• Food Tested: Meat, Poultry, Seafood, Processed Foods, Dairy, Fruits, Vegetables, Grains, Nuts, Spices

Regional Insights

• Europe: Leading region in the food diagnostics market in 2023.

As concerns over food safety continue to rise, the food diagnostics market plays a pivotal role in safeguarding public health and ensuring the integrity of the food supply chain. With ongoing advancements in technology and a focus on innovation, the industry is poised for significant growth in the coming years, offering enhanced solutions for food safety testing and quality assurance.

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The Food Diagnostics Global Market Report 2024  provides comprehensive insights on the food diagnostics market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the food diagnostics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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