The food testing kits market is expected to grow from US$ 20.73 billion in 2021 to US$ 34.14 billion by 2028 at a CAGR of 7.4% between 2022 and 2028.
Food product testing is an essential step in the food products' global supply chain. These kits are primarily used by retailers, wholesalers, dealers, intermediate suppliers, R&D institutes, and end users. Nowadays, manufacturing companies such as PerkinElmer, Inc. and Agilent Technologies, Inc. are focusing on developing innovative testing equipment to offer faster, more accurate, and more reliable food testing solutions to their customers. These companies' efforts could fuel the future development of the market. For instance, in March 2022, PerkinElmer, Inc. launched a new salmonella testing kit for ensuring the quality of pet food items. Users can test various dry and wet food items for dogs, cats, hamsters, rabbits, and other pet animals and achieve the testing results within 24 hours of usage.
MARKET DYNAMICS
Food safety authorities use advanced food testing kits to ensure the quality of the food products at the retailing shops. Governmental assistance in offering financial aid for building infrastructural facilities such as shopping complexes and food product retailing shops is likely to increase the consumption rate of food testing equipment among these establishments, thereby supporting the global market growth. For instance, in 2020, the US government allocated US$ 50,000 grants to the food and beverage-related retailing businesses in Wheeling (Illinois) for their building infrastructural development. Furthermore, the increasing requirement for food testing equipment, such as centrifuges, lab pipettes, autoclaves, and ultrasonic cleansers, from R&D labs is expected to surge the product demand globally.
MARKET SCOPE
The "Global Food Testing Kits Market Analysis to 2028" is a specialized and in-depth study of the food testing kits market with a special focus on the global market trend analysis. The report aims to provide an overview of the food testing kits market with detailed market segmentation by sample, target, and technology. The global food testing kits market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading food testing kits market players and offers key trends and opportunities in the food testing kits market.
MARKET SEGMENTATION
The global food testing kits market is segmented based on sample, technology, and target. Based on sample, the market is segmented into meat; poultry; and seafood products, dairy products, packaged foods, fruits and vegetables, cereals; grains; and pulses, nut seeds and spices, and others. In terms of technology, the market is segmented into PCR-based, immunoassay-based, enzyme substrate-based, and others. Based on target, the market is segmented into allergens, mycotoxins, pathogens, GMOs, meat species, and others.
Strategic Insights
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global food testing kits market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America. Each region's food testing kits market is later subsegmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in the aforementioned regions.
From the regional perspective, North America dominated the food testing kits market with ~29% market share in 2021. The dominance can be attributed to the robust presence of import/export port facilities and retailing stores related to the food and beverage products requiring testing equipment in the US and Canada. According to the data presented by the Department of Statistics, Government of Canada, as of 2021, there were 36,286 food and beverage retailing establishments in Canada. Furthermore, stringent government regulations related to the quality and integrity of food products in the US and Canada would favor the product demand in the region. The below figure showcases the revenue growth trend in the North America food testing kits market:
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Source: The Insight Partners Analysis
The report analyzes factors affecting food testing kits market from both demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis, highlighting the factors affecting the food testing kits market.
IMPACT OF COVID-19 PANDEMIC
Temporary shutdowns of key players' manufacturing and supply chain operations and uncertain food products trade policies, owing to the COVID-19-related lockdown restrictions in many countries worldwide, impacted the food testing products' revenues globally. In addition, the limited availability of the raw material supplies required to manufacture food testing products posed challenges to the key players in managing their inventory management operations. To maintain health and well-being during COVID-19 lockdown restrictions, households preferred using food testing equipment to ensure the quality of the food items and safer food consumption. This supported the product demand in various regions amid the pandemic.
MARKET PLAYERS
The report covers recent developments related to the key players’ organic and inorganic growth strategies in the food testing kits market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, and patents and events. Inorganic growth strategies in the market are acquisitions, partnerships, and collaborations. These activities have paved the way for business expansion and market players' customer base. The market players in the food testing kits market are anticipated to have lucrative growth opportunities in the future with the rising demand for food testing equipment. Below is a list of a few companies engaged in the food testing kits market.
The report also includes the profiles of key food testing kits market players along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, and key developments in the past five years.
- ?Agilent Technologies, Inc.?bioMerieux SA?Bio-Rad Laboratories, Inc.?EnviroLogix Inc.?Merck & Co., Inc.?Neogen Corporation?PerkinElmer Inc.?QIAGEN N.V.?Romer Labs Division Holding GmbH?Thermo Fisher Scientific, Inc.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
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