Global Food Diagnostics Market Forecast to 2023 - Increase in Food Processing Necessitates Safety Testing With Faster Results
DUBLIN, Feb. 15, 2019 /PRNewswire/ -- The "Food Diagnostics Market by Type (Systems and Consumables), Type of Test (Safety and Quality), Food Tested (Meat, Poultry, & Seafood, Dairy products, Processed Foods, Cereals & grains, and Fruits & Vegetables), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global food diagnostics market size is projected to grow from USD 12.1 billion in 2018 to USD 17.1 billion by 2023, at a CAGR of 7.1% during the forecast period.
The food diagnostics market is driven by factors such as an increase in the global outbreaks of foodborne illnesses, globalization in food trade, stringent food safety regulations, and the adoption of advanced technologies. However, the lack of coordination between market stakeholders, improper enforcement of regulatory laws, and supporting infrastructure in developing countries can hinder the growth of the market.
The safety segment is estimated to dominate the food diagnostics market in 2018.
The safety segment is estimated to account for the largest share in 2018, in terms of value. Safety testing of food samples includes testing for targets such as toxins, pathogens, heavy metals, pesticides, GMOs, and organic contaminants. The inclusion of several chemicals and toxins, with the growing incidents of food adulteration, acts as a major concern for the food sector, as this leads to food toxicity and public health concerns. As a result, safety testing of these food samples has gained importance over the years. The presence of such contamination in food products can lead to foodborne illnesses, which could also cause several health issues for consumers. Thus, significant emphasis has been laid on safety testing of food samples.
Meat, poultry, and seafood segment is projected to account for the larger market share during the forecast period.
This segment includes products from fish, crustaceans, mollusks, crabs, beef, chicken, mutton, and pork. Meat & meat products are tested for various contaminants such as pathogens, meat speciation, GMOs, allergens, and other residues by means of food diagnostics. Meat speciation testing, in its different forms, is a routine practice conducted to safeguard consumer interest and health, especially against malpractices such as adulterations. Often, feed given to livestock, especially soymeal, also contains genetically modified soybean. Certain processed meat and meat products such as ham and sausages are genetically modified during the production process. Many additives commonly found in sausages and hams are often produced using methods involving GM microorganisms. The food diagnostics technology widely used for meat identification is the detection of species-specific proteins or DNA analysis (using PCR-based technology).
The Asia Pacific is projected to be the fastest-growing region in the food diagnostics market.
The Asia Pacific is projected to be the fastest-growing market due to the higher adoption of new technologies with an increasing number of foodborne illnesses. The growth of the market in this region is driven by various rules & regulations implemented in different countries. Food security standards are increasingly becoming stringent to ensure safer supply of food to individuals in local and foreign countries. Governments have put various regulations in place for consumers, producers, and regulators.
Market Dynamics
Drivers
- Increase in Global Outbreaks of Foodborne Illnesses
- Growing Preference for Onsite Testing
- Globalization of Food Trade
- Increase in Food Processing Necessitates Safety Testing With Faster Results
- Increased Innovation and Acceptance of Pcr, Chromatography, and Immunoassay-Based Technologies
Restraints
- Variations in Sample Collection and Preparation Standardization
- Lack of Coordination Between Market Stakeholders and Improper Enforcement of Regulatory Laws & Supporting Infrastructure in Developing Countries
Opportunities
- Increased Budget Allocations and Spending on Food Safety
- Technological Advancements in the Testing Industry
Challenges
- Complexity in the Quantification of Test Results
- High Costs Associated With the Procurement of Rapid Food Testing Equipment
Supply Chain Analysis
Companies Mentioned
- 3M Company
- Agilent Technologies Inc.
- Bio-Rad Laboratories, Inc.
- Biomrieux Sa
- Biorex Food Diagnostics
- Danaher Corporation
- Envirologix Inc.
- Foss
- Gen-Ial GmbH
- Hygiena, LLC
- Merk Kgaa
- Neogen Corporation
- Qiagen
- Randox Food Diagnostics
- Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/research/3dt6j3/global_food?w=5
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