The Food Diagnostic Equipment and Consumables Market is highly diversified market including of several equipment and consumables. Tests are conducted to ensure the safety and nutritional value of food products. Growing cases of food borne diseases around the world and rising awareness among people regarding the importance of taking precaution and care about our food intake has led to the high scope of this market. Prominence for these laboratory instruments and equipment to test food will continue to rise through 2020.
Market Scope and Forecasts:
Not only did the PCR equipment account for the maximum share in 2015, but is also estimated to grow with the fastest CAGR until 2021 owing mainly to the rise in the installations. On the other hand, Immunoassay and Hybrid-systems will grow at the healthiest CAGR rate- following the PCR equipment.
The food product manufacturers are financing the food diagnostic services not just to ensure match with the food regulations of that country but also to increase marketability of their products by making various claims such as “Cholesterol Free”, “GM Free”, “Fat Free” etc.
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Prominent Market Drivers:
As per the IndustryARC market intelligence report, the following are noted to be the top market propellants:
Increasing trade of food around the world
Rising instances of food mishaps resulting in product recalls
Rising consumer awareness on food to be consumed
Stringent regulations enforced by regulatory agencies of different countries and more
Largest share was held by North America in 2015. China and India are noted as healthy contributors in terms of geography owing to growing quantity and quality of food safety standards. Governments across the world are taking initiatives in order to make the testing a compulsion rather than a choice. APAC is accounted as the fastest growing region considering the forecast period.
The Food Diagnostic Equipment and Consumables Market is segmented into various categories in the IndustryARC marketing research analysis report by food equipment testing type, by food equipment testing application, by food testing consumables type and by geography.
By Food Equipment Testing Type: chromatography systems, mass spectrometry systems, polymerase chain reaction (PCR) equipment, immunoassay systems, hybrid systems, NMR systems, flow cytometry systems and others
By Food Equipment Testing Application: food chemistry analysis, food microbiology analysis, food nutrition analysis, food allergen analysis, GMO testing, food shelf-life studies and others
By Food Testing Consumables Type: test kits, reagents and general lab ware
By Geography: North America, South America, Europe, Asia Pacific and ROW
While a notable market share was held by Agilent Technologies Inc. (U.S.) and Thermo Fisher Inc. (U.S.) owing to their unique and quality efforts on making the food diagnostic equipment segment better day by day; many other newly established players are competing well with the experienced industry units. Risen investments and funding from corporate as well as government associations are driving the market scope.
Thermo Fisher Inc. had made collaborations and acquisitions apart from launching six products to increase its revenues from food diagnostic equipment business unit. Agilent Technologies Inc. launched five products, out of which four were hybrid systems. The company launched 6400 LC/MS system, Q-TOF GC/MS System, 5977A Series GC/MSD, and GC-MS system recently which are used for varied applications of food testing.
In this market research report, more than 40 key players are included with in-depth market analysis; few of them being:
Ametek Inc. (U.S.)
Beckman Coulter Inc. (U.S.)
Biomerieux Inc. (France)
Shimadzu Corporation (Japan)
Qiagen N.V (The Netherlands)
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