New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Food Testing Kits Global Market Report 2023: Ukraine-Russia War" - https://www.reportlinker.com/p06433352/?utm_source=GNW
, Qiagen, Romer Labs Inc., Thermo Fisher Scientific, Danaher Corporation, Erber Group, DNA Diagnostic A/S, Elabscience,and Creative Diagnostics.
The global food testing kits market grew from $2.56 billion in 2022 to $2.79 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The food testing kits market is expected to grow to $3.98 billion in 2027 at a CAGR of 9.3%.
The food testing kits market consists of sales of rapid food adulteration detection kits to check targeted pathogens, meat species, GMOs, allergen, mycotoxin, and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Food testing kits are specifically designed for testing and detection of pathogens, meat species, GMOs, allergen, and mycotoxin in the food.These kits are more efficient and effective to test the integrity and quality of foods.
Food testing is important for standard quality control, and it begins with laboratory or field testing.
North America was the largest region in the food testing kits market in 2022.Asia-Pacific is expected to be the fastest growing region in the forecast period.
The regions covered in the food testing kits report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of technologies included in food testing kits are PCR-based, immunoassay-based, and enzyme substrate-based testing kits.PCR-based food testing kits are used to detect foodborne bacteria and other essential food safety and quality targets rapidly and accurately.
Rapid reporting will empower users’ operations, allowing for speedier product release and intervention.Food safety PCR assays detect key pathogens and other relevant targets in food and environmental materials in a qualitative manner.
The food testing kits target pathogens, meat species, GMOs, allergens, mycotoxins, others. The different types of samples include meat, poultry, and seafood, dairy products, packaged food, fruits and vegetables, cereals, grains, and pulses, nuts, seeds, and spices and others.
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 World Health Organization (WHO) report in 2020, every year an estimated 600 million individuals, nearly one out of every ten people on the planet become unwell after eating tainted food.
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.
Technological advancements are a key trend gaining popularity in the food testing kits market.Rapid analytical food testing kits (RAFT), a new technology that allows people to use kits that detect and identify food pathogens, food allergens, food adulterants, pesticide leftovers, food pathogens, antibiotics/drug residues, and other harmful food toxins that contaminate the food products.
These kits enable users to gain more assurance and check the quality of their food as well as protecting them from illnesses.For instance, in December 2020, Eurofins Technologies, a Hungary-based supplier of test kits and systems for laboratory analyses, launched the SENSIStrip Allergen product range.
SENSIStrip Allergen kits are immunoassay-based, simple to use and rapid tests that need only a short incubation time. In terms of food matrices, rinse water, and machinery, this ensures adequate allergy management at various phases of the food manufacturing process.
In September 2021, Battery Ventures, a US-based technology-focused investment firm acquired ifp Institut für Produktqualität GmbH for an undisclosed amount.With this acquisition, Battery Ventures aims to target the food safety kits technological market.
Battery ventures will leverage the safety and development labs of ifp Institut für Produktqualität GmbH to enter the food safety sector. ifp Institut für Produktqualität GmbH is a Germany-based company engaged in manufacturing diagnostic test kits for detection of GMOs, food allergens, vitamins, pathogens, and other substances.
The countries covered in the food testing kits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The food testing kits market research report is one of a series of new reports that provides food testing kits market statistics, including food testing kits industry global market size, regional shares, competitors with a food testing kits market share, detailed food testing kits market segments, market trends and opportunities, and any further data you may need to thrive in the food testing kits industry. This food testing kits market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06433352/?utm_source=GNW
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