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Food Testing Kits Market Size, Latest Trends, Growth Rate, Key Drivers Share And Forecast To 2033
Food Testing Kits Market Analysis
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the food testing kits industry. This report on food testing kits market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The food testing kits market size has grown rapidly in recent years. It will grow from $2.84 billion in 2023 to $3.14 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to food safety concerns, regulatory compliance, consumer awareness, globalization of the food supply chain, food borne outbreaks.
The food testing kits market size is expected to see rapid growth in the next few years. It will grow to $4.72 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to clean label and non-GMO verification, faster testing methods, regulatory stringency, customization and multiplexing, food industry investment. Major trends in the forecast period include traceability and block chain technology, allergen detection, pathogen detection, smart and connected testing devices, mycotoxin detection.
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Key Market Players:
Agilent Technologies Inc., Bio-Rad Laboratories Inc., bioMérieux SA, EnviroLogix Inc., Eurofins Scientific SE, Merck KGaA (Merck Millipore), Neogen Corporation are prominent players in the food testing kits industry.
Market Drivers:
According to the Food Testing Kits Market Report 2024 by The Business Research Company, The rising cases of food-borne illness is expected to propel the growth of the food testing kits market in the coming years. The term food-borne illness is a condition induced by intake of contaminated food or drink. Food testing kits can be of great use to reduce the chances of ingesting contaminated food and hence, reducing food-borne illnesses. According to the Foodborne Diseases Active Surveillance Network (FoodNet), a US-based organization that provides food safety policies, in the United States in 2022, there will be 25,479 instances of food borne disease, 5,981 hospitalizations, and 170 deaths caused by eight pathogens. The surge in food-borne illness has led to increased focus on food safety for people, thereby contributing to the growth of the food testing kits market.
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Market segments for food testing kits include:
1) By Technology: PCR-based, Immunoassay-based, Enzyme Substrate-based
2) By Target Tested: Pathogens, Meat Species, GMOs, Allergens, Mycotoxins, Other Target Tested
3) By Sample: Meat, Poultry, And Seafood, Dairy Products, Packaged Food, Fruits and Vegetables, Cereals, Grains, and Pulses, Nuts, Seeds, and Spices, Other Samples
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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