May 26 2020
Food diagnostics has gained paramount importance in identifying the microbial contaminants present in food, particularly the fresh produce i.e. fruits and vegetables. Further, accentuation of sanitation measures during COVID-19 pandemic will bode well for market. According to FMI's analysts, the global food diagnostics market will hit approximately US$ 24 Bn by 2029 end. Moreover, the food diagnostics market will receive tailwinds from seafood, meat, and poultry industry in view of heightening demand over the forecast period (2019-2029). However, supply chain disruptions spurred by global outbreak of COVID-19 will alter the market's growth trajectory through the pandemic.
"Niche players must follow multipronged growth-oriented strategies such as product development, and strategic partnerships to bolster competitive ascendancy," concludes FMI.
Key Takeaways of Food Diagnostics Market Study
Food Diagnostics Market - Key Growth Drivers
Food Diagnostics Market - Key Restraints
Anticipated Impact of COVID-19 on Food Diagnostics Market
Major companies in the global food diagnostics market are developing and offering new guidelines on safe consumption and handling of food. According to World Health Organization (WHO), there has been no evidence so far regarding transmission of COVID-19 via food packaging or food items. However, minuscule traces of SARS-CoV-2 virus were found in a sample of non-potable water in Paris. Therefore, the risk of food contamination cannot be denied. Use of Personal Protective Equipment (PPE) such as gloves and masks is strongly advised for chefs and delivery agents by food diagnostic experts. Hence, governments have been reinforcing food hygiene principles which are bolstering the growth of food diagnostics market during the pandemic.
Competitive Landscape of Food Diagnostics Market
Some of the noteworthy players in the global food diagnostics market that are featured in this FMI report include, but are not limited to, Thermo Fisher Scientific, The Merck Group, Minnesota Mining and Manufacturing Company, Envirlogix Inc., GEN-IAL GmbH, Qiagen, Agilent Technologies Inc., Hygiena LLC, FOSS A/S, Randox Food Diagnostics, Bio-Rad Laboratories Inc., Danaher Corporation, Biomerieux SA, Biorex Food Diagnostics, 3M Company, Perkinelmer Inc., Biocontrol Systems Inc., VWR International, Omega Diagnostic Group Plc, and Neogen Corporation. Multiple product launches, sustainable development, acquisitions, and partnerships are key strategies being adopted by top players in the food diagnostics market. In addition, sustaining the financial strength during this pandemic is the priority of leading manufacturers as well.
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