It includes in-depth insights into the food diagnostics services market. Some of these are:
- The estimated value of the market was at US$ 12.5 Bn in 2020. Through the course of the report’s forecast period, the market is exhibited to show a steady pace of growth.
- During the forecast period, the safety segment is expected to rise at the highest rate by type of test.
- The rising prevalence of foodborne illness, food adulteration and an increase in food allergens has resulted in many food recall incidences.
- Growing customer concerns about food safety can have a positive effect on the global market for food diagnostics services systems.
- Food trade globalization also opens the door to new growth opportunities worldwide and is expected to improve the global demand for food diagnostics services in the coming years.
- The market is further driven by the involvement of major food diagnostics services companies are continuously investing and collaborating for the development of better and faster testing technologies, to aid adherence to various food safety regulations.
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“Stringent food safety regulations, availability of advanced rapid technology, the demand for convenience and packaged food goods, the outbreaks of chemical pollution in food processing industries, and rising customer consciousness about food safety in practices is projected to drive the market,” said a lead analyst at FMI.
Eating & Shopping Habits Will Alter Growth Due to COVID-19 Outbreak
This pandemic will lead to certain shifts in consumer behavior and eating habits. Increasing population along with rising economic standards has led to increase in food service spending. Contrary to the aforementioned forecasts, however, the market can head to tough waters. Coronavirus outbreak greatly affected buyers’ consumption habits. They are unlikely to purchase goods imposed around various nations amid lockdowns. This would have an invariable effect on business growth forecasts.
Who is Winning?
Major players in the global food diagnostics services systems market are Beckman Coulter Inc., Randox Laboratories Ltd., Biocontrol Systems Inc., E. I. Du Pont De Nemours and Company, Thermofisher Scientific Inc., Perkinelmer Inc., Thermo Electron Corporation, Fermantes, and 3M Company. Other key players include Omega Diagnostic Group Plc., VWR International, Bio-Rad Laboratories Inc., Merck Kgaa, Biomérieux SA, Danaher Corporation, Neogen Corporation, and Foss A/S.
Such players have wide market reach and high organizational and financial strength; in the recent past they have evolved organically and inorganically. Various businesses concentrate on methods for sustainable development, such as product launches, product approvals and others, such as patents and events. Activities observed in the market were inorganic growth approaches, acquisitions, and partnership & partnerships. Such practices have paved the way for market players to grow their business presence and customer base. With the growing demand for food diagnostics services on the global premium, premium payers from the food diagnostics services industry are expected to see lucrative growth opportunities in the future.
Get Valuable Insights into Food Diagnostics Services Market
Future Market Insights, in its new report, presents an unbiased analysis of the global food diagnostics services market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. The global food diagnostics services market is segmented on the basis of type, type of test and food tested. Based on type, the market is segmented into diagnostics systems, diagnostics consumables and others. On the basis of the type of test the market is segmented into safety and quality. on the basis of food tested the market is segmented into meat poultry and seafood products, processed food, fruits & vegetables, dairy products, cereals & grains and others. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
Report Scope
- Base year considered – 2020
- Actual estimates/Historical data – 2015 – 2019
- Forecast period – 2020 – 2030
- Forecast units – Value (USD) Bn
- Segments covered – Product Type, Type of Test, Food Tested and Region
- Regions covered – North America, Latin America, Europe, Asia, Oceania and MEA
- Key Players – Randox Laboratories Ltd, 3M Company, Bio-Rad Laboratories Inc., Neogen Corporation, E. I. Du Pont De Nemours and Company, Foss A/S, Thermo Electron Corporation, VWR International, Fermantes, Danaher Corporation, Omega Diagnostic Group Plc., Biomérieux SA, Merck Kgaa, Beckman Coulter Inc., Biocontrol Systems Inc., Thermofisher Scientific Inc., and Perkinelmer Inc.
- Report coverage – Revenue forecast, company share, competitive landscape, growth factors, and trends
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Key Research Findings
- Food diagnostics services are used for testing for impurities and contaminations during production, refining, and packaging processes
- Innovations and advances in these services are anticipated to drive the growth of the overall market over the forecast period
- Europe is expected to account for the largest share in the market
- The safety test segment is expected to rise at the highest CAGR over the forecast period
- High susceptibility to contamination of fruit and vegetables by different forms of pests, pesticides and GMOs is expected to boost growth in the food diagnostics services market
- Rise in foreign food-borne disease outbreaks is expected to remain the dominant factor driving the market.
About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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