Food Diagnostics Market Size, Trends and Insights By Type (Systems, TestKits, Consumables), By Site (In house, Outsourcing), By Application (Processed Food, Dairy Products, Meat and Poultry, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032


Report Code: CMI25298

Published Date: July 2023

Pages: 220+

Category: Food & Beverages

Report Snapshot

CAGR: 8.7%
15.55B
2022
16.89B
2023
28.99B
2032

Source: CMI

Study Period: 2023-2032
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • 3M Company
  • Merk Kgaa
  • Danaher Corporation
  • Agilent Technologies Inc.
  • Neogen Corporation
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global Food Diagnostics Market is expected to record a CAGR of 8.7% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 15.55 Billion. By 2032, the valuation is anticipated to reach USD 28.99 Billion.

Food Diagnostics is a specialized field that revolves around the identification and measurement of contaminants, adulterants, and other substances present in food items. It employs a range of analytical methods and cutting-edge technologies to uncover and assess the presence of these elements within food samples.

The primary objective of Food Diagnostics is to uphold the safety and quality of food products while also preventing instances of food fraud and misrepresentation. It encompasses the utilization of diverse techniques and technologies for the detection and quantification of various components found in food, including nutrients, contaminants, pathogens, and allergens.

Some widely employed techniques in Food Diagnostics encompass chromatography, mass spectrometry, PCR (polymerase chain reaction), ELISA (enzyme-linked immunosorbent assay), and NMR (nuclear magnetic resonance) spectroscopy. These methodologies find versatile applications, including the examination of pesticide residues, the assessment of nutritional constituents in food items, the identification of foodborne pathogens, and the recognition of allergenic components present in food products.

Within the realm of the food industry, Food Diagnostics assumes a pivotal role, contributing significantly to the assurance of food product safety, authenticity, and compliance with regulatory standards. Furthermore, Food Diagnostics serves as a vital tool for verifying the precision of labeling information, uncovering instances of food fraud, and maintaining a vigilant watch over the quality of food products across the entirety of the supply chain.

Food Diagnostics Market – Significant Growth Factors

The global Food Diagnostics market is experiencing significant growth, primarily driven by an increasing focus on food safety. The ongoing occurrence of foodborne illness outbreaks has heightened awareness and apprehension regarding the safety of our food supply.

Food Diagnostics plays a pivotal role in the identification and mitigation of foodborne pathogens like Salmonella and E. coli, contributing to the prevention of such outbreaks. Additionally, governments worldwide are imposing more rigorous regulations to safeguard food safety and uphold its quality standards.

Consequently, Food Diagnostics has become indispensable for adhering to these regulatory frameworks and guaranteeing the safety of food products fit for consumption. Nonetheless, the Food Diagnostics sector faces a notable challenge in the form of high associated costs, potentially acting as a hindrance to market growth during the projected period.

As the prevalence of food allergies and intolerances continues to rise, there is a growing imperative for precise labeling and the identification of potential allergenic substances in food items. Food Diagnostics offers a valuable means to detect the presence of allergens like peanuts, tree nuts, and gluten.

In response to this heightened awareness and concern, consumers are increasingly demanding greater transparency and comprehensive information regarding the food they consume. Here, Food Diagnostics emerges as a pivotal tool, capable of furnishing essential details such as nutritional content, origin, and authenticity of food products.

Some of the Significant Key Drivers are:

  • Increasing Food Safety Concerns: Growing awareness of foodborne illnesses and contamination issues has heightened consumer and regulatory demands for safer food products. Food Diagnostics plays a vital role in identifying and preventing foodborne pathogens, allergens, and contaminants, thereby ensuring food safety.
  • Stringent Regulatory Requirements: Governments worldwide are implementing stringent food safety regulations and quality standards to safeguard public health. Compliance with these regulations necessitates the use of advanced diagnostic techniques and technologies, boosting the demand for Food Diagnostics solutions.
  • Rising Incidence of Food Allergies and Intolerances: The increasing prevalence of food allergies and intolerances necessitates accurate labeling and detection of allergenic components in food products. Food Diagnostics aids in identifying allergens like peanuts, tree nuts, and gluten, meeting the demands of consumers with dietary restrictions.
  • Consumer Demand for Transparency: Modern consumers are increasingly seeking transparency in the food supply chain. They want detailed information about the nutritional content, origin, and authenticity of the food they consume. Food Diagnostics provides this transparency, enhancing consumer trust.
  • Globalization of Food Trade: The globalization of food markets has expanded the need for robust Food Diagnostics to ensure the safety and quality of imported and exported food products. Accurate testing and verification of food products have become essential for international trade.

Global Food Diagnostics Market 2023–2032 (By Type)

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Food Diagnostics Market – Mergers and Acquisitions

  • Thermo Fisher Scientific’s Acquisition of Life Technologies: In 2014, Thermo Fisher Scientific acquired Life Technologies, a leading provider of molecular biology and diagnostics solutions. This acquisition expanded Thermo Fisher’s capabilities in food diagnostics, particularly in areas such as DNA analysis and PCR technology.
  • Eurofins’ Acquisition of Mérieux NutriSciences: Eurofins Scientific, a major player in the food testing and diagnostics industry, acquired Mérieux NutriSciences in 2019. This merger strengthened Eurofins’ global presence and enhanced its offerings in food safety and quality testing services.
  • Agilent Technologies’ Acquisition of Seahorse Bioscience: Agilent Technologies acquired Seahorse Bioscience in 2015, enhancing its portfolio of analytical instruments used in food diagnostics. Seahorse Bioscience specialized in cell metabolism analysis, which has applications in assessing food quality.
  • Qiagen’s Acquisition by Thermo Fisher Scientific: In 2020, Thermo Fisher Scientific completed its acquisition of Qiagen, a global leader in molecular diagnostics and sample preparation technologies. This acquisition expanded Thermo Fisher’s capabilities in molecular testing, including applications in food safety and diagnostics.
  • Bio-Rad Laboratories’ Acquisition of DiaMed: Bio-Rad Laboratories acquired DiaMed in 2007, bolstering its position in the field of clinical diagnostics, including food diagnostics. DiaMed specialized in blood typing and antibody detection, which can be applied in food allergen testing.
  • PerkinElmer’s Acquisition of EUROIMMUN: PerkinElmer acquired EUROIMMUN in 2017, expanding its portfolio of diagnostic tests. This acquisition also had implications for the food diagnostics sector, as EUROIMMUN’s expertise in immunoassays and diagnostic automation can be applied to food allergen and contaminant testing.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Food DiagnosticsMarket Quick Service Restaurant Market Precision Fermentation Marke
CAGR 8.7% (Approx) CAGR 5.2% (Approx) CAGR 45% (Approx)
USD 28.99 Billion by 2032 USD 320.7 Billion by 2032 USD 25.54 Billion by 2032

Food Diagnostics Market – Significant Threats

  • High Operating Costs: The implementation of advanced diagnostic technologies and compliance with stringent regulatory standards can result in high operating costs for food testing laboratories and manufacturers, which may limit market accessibility.
  • Rising Regulatory Stringency: Evolving and increasingly stringent regulations related to food safety and labeling require continuous investment in compliance and testing infrastructure. Non-compliance can lead to legal consequences and market exclusion.
  • Complexity of Testing Methods: Advanced testing methods and technologies often require specialized training and equipment, making it challenging for smaller food businesses to access and utilize Food Diagnostics effectively.
  • Food Fraud and Adulteration: Food fraud remains a significant issue in the industry, as unscrupulous actors may intentionally mislabel or adulterate food products. Detecting and preventing such fraud requires robust testing and surveillance systems.
  • Globalization and Supply Chain Complexity: The globalization of the food supply chain has introduced complexities in sourcing and tracing ingredients. This can make it difficult to track and mitigate risks related to contaminants and allergens.
  • Emerging Pathogens and Contaminants: The emergence of new foodborne pathogens and contaminants poses ongoing challenges for Food Diagnostics. Staying ahead of these emerging threats requires continuous research and development.
  • Consumer Privacy Concerns: Collecting and analyzing data for food testing purposes may raise concerns about consumer privacy and data security, especially in the era of increasingly digital and interconnected food supply chains.
  • Environmental Impact: The chemicals and materials used in some diagnostic tests can have environmental implications, raising concerns about sustainability and ecological impact.
  • Economic Uncertainty: Economic downturns and fluctuations can affect budgets allocated for food testing and diagnostics, potentially reducing investments in these areas.
  • Technological Advancements: While technological advancements can drive innovation, they can also pose a threat if industry participants fail to keep up with the latest developments and fail to adopt new, more effective diagnostic methods.
  • Trade Disputes and Tariffs: Trade disputes and tariffs can disrupt the international flow of food products, impacting the need for and application of Food Diagnostics.
  • Public Perception: Negative publicity related to food safety incidents can erode consumer trust and confidence in food products, necessitating greater investments in Food Diagnostics to ensure safety and transparency.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 16.89 Billion
Projected Market Size in 2032 USD 28.99 Billion
Market Size in 2022 USD 15.55 Billion
CAGR Growth Rate 8.7% CAGR
Base Year 2022
Forecast Period 2023-2032
Key Segment By Type, Site, Application and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Type:

In terms of segmentation by type, the Food Diagnostics Market is categorized into systems, test kits, and consumables. Notably, the system segment emerged as the dominant market player in 2022, holding the largest market share.

This prominence can be attributed to the increasing demand for diverse types of diagnostic systems in the field of Food Diagnostics. These systems prove particularly valuable in identifying and detecting contaminants or impurities during various stages of food manufacturing, processing, and packaging.

Concurrently, the test kits segment is expected to exhibit the highest Compound Annual Growth Rate (CAGR) during the forecast period. This projection underscores the rising significance of test kits in the Food Diagnostics Market, as they offer a convenient and efficient means of conducting diagnostic assessments, thus addressing the need for quick and accurate results in the industry.

By Site:

In terms of site categorization, the Food Diagnostics Market is divided into in-house and outsourcing segments. Notably, the outsourcing segment asserted its dominance in the global market during 2021, securing the highest market share.

This prevalence is attributed to the heightened emphasis on stringent government regulations aimed at ensuring food safety. Additionally, the outsourcing segment benefits from specialized expertise offered by Food Diagnostics outsourcing companies, which play a pivotal role in conducting essential tests to guarantee food safety.

Global Food Diagnostics Market 2023–2032 (By Billion)

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Food Diagnostics Market – Regional Analysis

  • North America: North America boasts a well-established Food Diagnostics Market, driven by the region’s stringent food safety regulations and a high level of consumer awareness. The United States, in particular, is a key contributor to the market, with a focus on advanced diagnostic technologies and stringent quality standards.
  • Europe: Europe maintains a strong presence in the Food Diagnostics Market, with countries such as Germany, France, and the United Kingdom leading the way. The region places significant emphasis on food safety and quality, resulting in robust demand for Food Diagnostics solutions. Stringent regulatory frameworks further drive growth in this market.
  • Asia-Pacific: The Asia-Pacific region, including China and India, is witnessing rapid growth in the Food Diagnostics Market due to a burgeoning population, increased food trade, and growing consumer awareness of food safety. Rising urbanization and changing dietary habits are driving the demand for advanced food testing technologies.
  • Latin America: Latin America, with countries like Brazil and Argentina, is an emerging player in the Food Diagnostics Market. Increasing exports of food products, coupled with the need to meet international quality standards, are boosting the adoption of Food Diagnostics technologies in the region.
  • Middle East and Africa: The Middle East and Africa exhibit unique dynamics in the Food Diagnostics Market, influenced by factors such as climate variability and the need to ensure food security. Countries in the region are investing in advanced Food Diagnostics to address challenges related to food safety and quality.

Global Food Diagnostics Market 2023–2032 (By Site)

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List of the prominent players in the Food Diagnostics Market:

  • 3M Company
  • Danaher Corporation
  • Merck KgaA
  • Thermo Fisher Scientific Inc.
  • Neogen Corporation
  • Agilent Technologies Inc.
  • Biorex Food Diagnostics
  • Biomerieux Sa
  • Bio-Rad Laboratories Inc.
  • Randox Food Diagnostics
  • Others

The Food Diagnostics Market is segmented as follows:

By Type

  • Systems
  • TestKits
  • Consumables

By Site

  • In house
  • Outsourcing

By Application

  • Processed Food
  • Dairy Products
  • Meat and Poultry
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Food Diagnostics Market, (2023 – 2032) (USD Billion)
    • 2.2 Global Food Diagnostics Market : snapshot
  • Chapter 3. Global Food Diagnostics Market – Industry Analysis
    • 3.1 Food Diagnostics Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Increasing Food Safety Concerns
      • 3.2.2 Stringent Regulatory Requirements
      • 3.2.3 Rising Incidence of Food Allergies and Intolerances
      • 3.2.4 Consumer Demand for Transparency
      • 3.2.5 Globalization of Food Trade.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Type
      • 3.7.2 Market attractiveness analysis By Site
      • 3.7.3 Market attractiveness analysis By Application
  • Chapter 4. Global Food Diagnostics Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Food Diagnostics Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Food Diagnostics Market – Type Analysis
    • 5.1 Global Food Diagnostics Market overview: By Type
      • 5.1.1 Global Food Diagnostics Market share, By Type, 2022 and 2032
    • 5.2 Systems
      • 5.2.1 Global Food Diagnostics Market by Systems, 2023 – 2032 (USD Billion)
    • 5.3 TestKits
      • 5.3.1 Global Food Diagnostics Market by TestKits, 2023 – 2032 (USD Billion)
    • 5.4 Consumables
      • 5.4.1 Global Food Diagnostics Market by Consumables, 2023 – 2032 (USD Billion)
  • Chapter 6. Global Food Diagnostics Market – Site Analysis
    • 6.1 Global Food Diagnostics Market overview: By Site
      • 6.1.1 Global Food Diagnostics Market share, By Site, 2022 and 2032
    • 6.2 In house
      • 6.2.1 Global Food Diagnostics Market by In house, 2023 – 2032 (USD Billion)
    • 6.3 Outsourcing
      • 6.3.1 Global Food Diagnostics Market by Outsourcing, 2023 – 2032 (USD Billion)
  • Chapter 7. Global Food Diagnostics Market – Application Analysis
    • 7.1 Global Food Diagnostics Market overview: By Application
      • 7.1.1 Global Food Diagnostics Market share, By Application, 2022 and 2032
    • 7.2 Processed Food
      • 7.2.1 Global Food Diagnostics Market by Processed Food, 2023 – 2032 (USD Billion)
    • 7.3 Dairy Products
      • 7.3.1 Global Food Diagnostics Market by Dairy Products, 2023 – 2032 (USD Billion)
    • 7.4 Meat and Poultry
      • 7.4.1 Global Food Diagnostics Market by Meat and Poultry, 2023 – 2032 (USD Billion)
    • 7.5 Others
      • 7.5.1 Global Food Diagnostics Market by Others, 2023 – 2032 (USD Billion)
  • Chapter 8. Foods Diagnostics Market – Regional Analysis
    • 8.1 Global Foods Diagnostics Market Regional Overview
    • 8.2 Global Foods Diagnostics Market Share, by Region, 2022 & 2032 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Foods Diagnostics Market, 2023 – 2032 (USD Billion)
        • 8.3.1.1 North America Foods Diagnostics Market, by Country, 2023 – 2032 (USD Billion)
    • 8.4 North America Foods Diagnostics Market, by Type, 2023 – 2032
      • 8.4.1 North America Foods Diagnostics Market, by Type, 2023 – 2032 (USD Billion)
    • 8.5 North America Foods Diagnostics Market, by Site, 2023 – 2032
      • 8.5.1 North America Foods Diagnostics Market, by Site, 2023 – 2032 (USD Billion)
    • 8.6 North America Foods Diagnostics Market, by Application, 2023 – 2032
      • 8.6.1 North America Foods Diagnostics Market, by Application, 2023 – 2032 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Foods Diagnostics Market, 2023 – 2032 (USD Billion)
        • 8.7.1.1 Europe Foods Diagnostics Market, by Country, 2023 – 2032 (USD Billion)
    • 8.8 Europe Foods Diagnostics Market, by Type, 2023 – 2032
      • 8.8.1 Europe Foods Diagnostics Market, by Type, 2023 – 2032 (USD Billion)
    • 8.9 Europe Foods Diagnostics Market, by Site, 2023 – 2032
      • 8.9.1 Europe Foods Diagnostics Market, by Site, 2023 – 2032 (USD Billion)
    • 8.10 Europe Foods Diagnostics Market, by Application, 2023 – 2032
      • 8.10.1 Europe Foods Diagnostics Market, by Application, 2023 – 2032 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Foods Diagnostics Market, 2023 – 2032 (USD Billion)
        • 8.11.1.1 Asia Pacific Foods Diagnostics Market, by Country, 2023 – 2032 (USD Billion)
    • 8.12 Asia Pacific Foods Diagnostics Market, by Type, 2023 – 2032
      • 8.12.1 Asia Pacific Foods Diagnostics Market, by Type, 2023 – 2032 (USD Billion)
    • 8.13 Asia Pacific Foods Diagnostics Market, by Site, 2023 – 2032
      • 8.13.1 Asia Pacific Foods Diagnostics Market, by Site, 2023 – 2032 (USD Billion)
    • 8.14 Asia Pacific Foods Diagnostics Market, by Application, 2023 – 2032
      • 8.14.1 Asia Pacific Foods Diagnostics Market, by Application, 2023 – 2032 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Foods Diagnostics Market, 2023 – 2032 (USD Billion)
        • 8.15.1.1 Latin America Foods Diagnostics Market, by Country, 2023 – 2032 (USD Billion)
    • 8.16 Latin America Foods Diagnostics Market, by Type, 2023 – 2032
      • 8.16.1 Latin America Foods Diagnostics Market, by Type, 2023 – 2032 (USD Billion)
    • 8.17 Latin America Foods Diagnostics Market, by Site, 2023 – 2032
      • 8.17.1 Latin America Foods Diagnostics Market, by Site, 2023 – 2032 (USD Billion)
    • 8.18 Latin America Foods Diagnostics Market, by Application, 2023 – 2032
      • 8.18.1 Latin America Foods Diagnostics Market, by Application, 2023 – 2032 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Foods Diagnostics Market, 2023 – 2032 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Foods Diagnostics Market, by Country, 2023 – 2032 (USD Billion)
    • 8.20 The Middle-East and Africa Foods Diagnostics Market, by Type, 2023 – 2032
      • 8.20.1 The Middle-East and Africa Foods Diagnostics Market, by Type, 2023 – 2032 (USD Billion)
    • 8.21 The Middle-East and Africa Foods Diagnostics Market, by Site, 2023 – 2032
      • 8.21.1 The Middle-East and Africa Foods Diagnostics Market, by Site, 2023 – 2032 (USD Billion)
    • 8.22 The Middle-East and Africa Foods Diagnostics Market, by Application, 2023 – 2032
      • 8.22.1 The Middle-East and Africa Foods Diagnostics Market, by Application, 2023 – 2032 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 3M Company
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Danaher Corporation
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Merck KgaA
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Thermo Fisher Scientific Inc.
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 Neogen Corporation
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Agilent Technologies Inc.
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 Biorex Food Diagnostics
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Biomerieux Sa
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Bio-Rad Laboratories Inc.
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Randox Food Diagnostics
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Others.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
List Of Figures

Figures No 1 to 25

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players

  • 3M Company
  • Danaher Corporation
  • Merck KgaA
  • Thermo Fisher Scientific Inc.
  • Neogen Corporation
  • Agilent Technologies Inc.
  • Biorex Food Diagnostics
  • Biomerieux Sa
  • Bio-Rad Laboratories Inc.
  • Randox Food Diagnostics
  • Others

FAQs

The key factors driving the Market are Increasing Food Safety Concerns, Stringent Regulatory Requirements, Rising Incidence of Food Allergies and Intolerances, Consumer Demand for Transparency And Globalization of Food Trade.

The “Application” category dominated the market in 2022.

The key players in the market are 3M Company, Danaher Corporation, Merck KgaA, Thermo Fisher Scientific Inc., Neogen Corporation, Agilent Technologies Inc., Biorex Food Diagnostics, Biomerieux Sa, Bio-Rad Laboratories Inc., Randox Food Diagnostics, Others.

“North America” had the largest share in the Food Diagnostics Market.

The global market is projected to grow at a CAGR of 8.7% during the forecast period, 2023-2032.

The Food Diagnostics Market size was valued at USD 15.55 Billion in 2022.

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