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Food Diagnostics Global market Report 2024 – Market Size, Trends, And Forecast 2024-2033
Food Diagnostics Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
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LONDON, GREATER LONDON, UK, August 20, 2024 /EINPresswire / -- The food diagnostics market has experienced robust growth in recent years, expanding 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.
Strong Future Growth Anticipated
The food diagnostics market is projected to continue its strong growth, reaching $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.
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Growth Driver Of The Food Diagnostics Market
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.
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Major Players And Market Trends
Key players in the food diagnostics market include Randox Food Diagnostics, 3M Company, Shimadzu Corporation, Thermo Fisher Scientific Inc., PerkinElmer Inc., Agilent Technologies Inc..
Product innovation is a key trend gaining popularity in the food diagnostics market. Major companies operating in the food diagnostics market are adopting new technologies to sustain their position in the market.
Segments:
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
Geographical Insights: Europe Leading The Market
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
Food Diagnostics Market Definition
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.
Food Diagnostics Global Market Report 2024 from The Business Research Company covers the following information:
.Market size data for the forecast period: Historical and Future
.Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
.Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Food Diagnostics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on food diagnostics market size, food diagnostics market drivers and trends, food diagnostics market major players, food diagnostics competitors' revenues, food diagnostics market positioning, and food diagnostics market growth across geographies. The food diagnostics market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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