Food Diagnostics Market Forecast 2024-2033

Overview and Scope
Food diagnostics refers to the scientific investigation and analysis of food products to evaluate their ingredients, quality, safety, and nutritional value. It is used to identify food fraud and adulteration.

Sizing and Forecast
The food diagnostics market size has grown strongly in recent years. It will grow from $17.19 billion in 2023 to $18.51 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to stringent food safety regulations, globalization of food supply chains, consumer demand for transparency, industry adoption of rapid testing methods, global trade of food products.

The food diagnostics market size is expected to see strong growth in the next few years. It will grow to $25.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to focus on allergen detection, demand for on-site and portable diagnostics, rising importance of traceability, growing importance of microbial testing, expansion of the organic and natural foods market. Major trends in the forecast period include technological convergence in the industry, digitalization of food documentation, rapid testing technologies, point-of-care diagnostics, biosafety level enhancement, remote sensing technologies.

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Segmentation & Regional Insights
The food diagnostics market covered in this report is segmented-

1) By Type: System, Test Kits, Consumable
2) By Types Of Tests: Food Safety Testing, Food Authenticity Testing, Food Shelf Life Testing Market
3) By Site: Inhouse, Outsourcing Facility
4) By Food Tested: Meat Poultry And Seafood, Processed Food, Dairy Products, Fruits And Vegetables, Cereals Grains And Pulses, Nuts Seeds And Spices, Other Food Tested

Europe was the largest region in the food diagnostics market in 2023. The regions covered in the food diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
The increasing number of food adulteration cases is expected to propel the growth of the food diagnostics market going forward. Food adulteration refers to the process of lowering the quality of food by either including or replacing food substances with hidden alternative components, or by removing some useful components. Food diagnostics is a scientific method for determining the content and quality of food products that are used to detect food adulteration, which occurs when inferior or hazardous ingredients are added to food items. Hence, the increasing number of food adulteration cases increases the demand for food diagnostics. For instance, in January 2023, according to the Food and Drug Administration, a US-based intergovernmental organization, experts estimated that food fraud affects 1% of the global food sector and costs $10-$15 billion per year, though other more recent expert estimates put the cost as high as $40 billion per year. Therefore, the increasing number of food adulteration cases is driving the growth of the food diagnostics market.

Key Industry Players

Major companies operating in the food diagnostics market report are Randox Food Diagnostics, 3M Company, Shimadzu Corporation, Thermo Fisher Scientific Inc., PerkinElmer Inc., Agilent Technologies Inc., Neogen Corporation, FOSS India Private Limited, bioMérieux SA, Danaher Corporation, Bio-Rad Laboratories Inc., Biorex Food Diagnostics, Merck KGaA, QIAGEN N.V., ALS Limited, Intertek Group PLC, Hygiena LLC, EnviroLogix Inc., AsureQuality Limited, Bruker Corporation, Covance Inc., EMSL Analytical Inc., Eurofins Scientific SE, FoodChain ID Pty. Ltd., Mérieux NutriSciences Corporation, Microbac Laboratories Inc., Romer Labs Division Holding GmbH, Charm Sciences Inc., SGS North America Inc., Silliker Inc., Symbio Laboratories Pty. Ltd., TÜV SÜD AG

The food diagnostics market report table of contents includes:

1. Executive Summary
2. Food Diagnostics Market Characteristics
3. Food Diagnostics Market Trends And Strategies
4. Food Diagnostics Market – Macro Economic Scenario
5. Global Food Diagnostics Market Size and Growth
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31. Global Food Diagnostics Market Competitive Benchmarking
32. Global Food Diagnostics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Food Diagnostics Market
34. Food Diagnostics Market Future Outlook and Potential Analysis
35. Appendix

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