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Food and Beverage Testing Kits Market Size, Share Analysis, Trends 2024-2033
Food and Beverage Testing Kits Market Size
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According to The Business Research Company's, The food and beverage testing kits market size has grown strongly in recent years. It will grow from $20.33 billion in 2023 to $21.76 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to stringent regulations, public health incidents, industry standards and certifications, consumer awareness and demand, manufacturer and supplier compliance.
The food and beverage testing kits market size is expected to see strong growth in the next few years. It will grow to $30.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to data management and analytics, cost and efficiency improvements, rapid response capabilities, supply chain management, industry collaboration and standards. Major trends in the forecast period include remote monitoring and iot integration, emerging contaminants detection, sustainability and green testing methods, microbiological testing advancements, blockchain integration for traceability.
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Market Drivers and Trends:
The rising incidence of infectious diseases is increasing the demand for testing services, thus driving the food and beverage testing kits market. Unsafe food or beverages can carry harmful bacteria, chemicals, or substances, which can lead to various infectious diseases. With the help of testing devices, the quality of the food or beverage can be checked to ensure the safety of the consumer. According to the World Health Organization (WHO), close to 600 million people, around 1 in every 10 people, fall sick after the consumption of contaminated food, and close to 420000 people die due to such consumption. These rising incidences of infectious diseases due to contaminated food are expected to increase the demand for testing devices and drive the food and beverage testing kits market during the forecast period.
The latest trend in the food and beverage testing kits market is the introduction of forwarding laser light scatter technology. Forward laser light scatters (FLLS) can be used to measure bacterial growth in food and beverage products for an early determination of antimicrobial susceptibility. This technology works by using a laser light source to measure a liquid sample's optical density (OD). The FLLS system can obtain results in about 6 hours for fast-growing microorganisms and can take up to 18 hours for slower-growing organisms. The high speed and accuracy of this technology are useful in clinical use for expediting testing results, thereby improving the choice of suitable antimicrobial treatment, and supporting processes. Institutes such as Hettich, MIT and Purdue University, St. Jude are using and studying this technology for a better understanding and to increase the accuracy of identifying the pathogens.
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Major Key Players of the Market:
Berkshire Hathaway Inc., Starbucks Corporation, Compass group plc, McDonald's Corporation, Aramark corporation, Sodexo, Subway, Darden Restaurants, Yum China Holdings Inc., Chipotle, Restaurant Brands International Inc., Domino's Pizza Inc., Bloomin' Brands Inc., Texas Roadhouse Inc., Brinker International Inc., Cheesecake Factory Inc., Cracker Barrel Old Country Store Inc., Papa John's International Inc., Wendy's Company, Dave & Buster's Entertainment Inc., Buffalo Wild Wings Inc., Jack in the Box Inc., Dunkin' Brands Group Inc., Red Robin Gourmet Burgers Inc., Dine Brands Global Inc., Ruth's Hospitality Group Inc., Chuy's Holdings Inc., Del Taco Restaurants Inc., Zoe's Kitchen Inc., Shake Shack Inc.
Food and Beverage Testing Kits Market 2024 Key Insights:
• The food and beverage testing kits market size is expected to see strong growth in the next few years. It will grow to $30.02 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%.
• Rising Infectious Diseases Drive Demand For Food And Beverage Testing Kits
• Forward Laser Light Scatter Technology Revolutionizes Food And Beverage Testing Kits Market
• North America was the largest region in the food and beverage testing kits market in 2023
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