July 26, 2022
According to the research report titled ‘Global Food Testing Kits Market Size study, by Target (Acute Illness Treatment, Trauma/Injury Treatment, Physical Examinations, Immunization & Vaccination, Other Targets) by Technology (PCR-based, Immunoassay-based, Enzyme substrate-based) and Regional Forecasts 2022-2028’, available with MarketStudyReport, global food testing kits market was worth USD 2.25 billion in 2021 and is slated to grow at 7% CAGR during the analysis period, amassing a valuation of USD 3.61 billion by the end of 2028.
The growth of global food testing kits market can be attributed to surging demand for faster & reliable test results in food & beverage sector as well as huge influx of investments by the biotech sector.
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For the uninitiated, food testing kits are used to conduct scientific evaluations of food and its components. It is performed to provide data about specific food properties such as formation, structure, and physicochemical characteristics.
Besides, rising consumer awareness, widespread adoption of the product, and the development of multi-contaminant analyzing technology are further escalating industry progress.
On the contrary, a dearth of harmonization regarding food safety protocols, coupled with heavy-duty taxes levied on test kits are likely to hamper the development of the business sphere during the review period.
For better comprehension, the report classifies the worldwide food testing kits market in terms of target and technology, and shares growth rate forecasts for each vertical.
From a regional standpoint, North America market is poised to record substantial growth during the assessment period, due to rising incidences of food-borne illnesses caused by pathogens as well as surging cases of infectious gastrointestinal ailments in many developed countries.
Whereas Asia Pacific industry is estimated to register a significant growth rate during the projected timeline, due to globalization of food trade, growing preference for on-site testing, and strict international regulations concerning food safety.
The key players amplifying the competitive scope of global food testing kits industry include names like EnviroLogix Inc., ifp Institut für Produktqualität GmbH, Bio-Rad Laboratories Inc., Thermo Fisher Science Inc., QIAGEN N.V., Agilent Technologies Inc., PerkinElmer Inc., Eurofins Scientific SE, Neogen Corporation, and bioMérieux SA among others.