Future Market Insights (FMI) recently published global food ultrasound market research report, taking into account the impact of COVID-19 on the market. According to FMI’s analysis, the market is poised to grow steadily, primarily driven by rising food safety concerns by various governments.
Food ultrasound technologies have especially acquired importance in the wake of the COVID-19 pandemic. Since its onset, the FDA has encouraged greater availability of advanced imaging systems, providing significant traction to food ultrasound systems.
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Key Takeaways
- Global food ultrasound market poised to register steady CAGR through 2030
- Asia-Pacific to be a lucrative food ultrasound market, India to be a key revenue engine
- High intensity frequency range food ultrasound systems to emerge as the most lucrative segment
- Meat processing remains lucrative, fruits & vegetables testing to gain significant momentum
“Stringent government regulations to prevent food contamination and adulteration are paving the way for the emergence of numerous regional and global level food ultrasound device manufacturers,” concludes the FMI analyst.
COVID-19 Impact Insights
COVID-19 induced economic disruptions have had a limited impact on global food sales. However, there was a significant increase in demand for instant foods at the pandemic’s onset.
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After emerging wiser from the 2008 financial meltdown, food processors have been highly cautious, prompting them to secure supply chains. This has enabled them to avoid acute shortages. Owing to this trend, the market for food ultrasound systems is expected to remain stable.
Furthermore, a shift towards vegan diets is increasing scope of testing for plant based foods. For instance, over 12% of consumers in the UK have embraced vegan diets since the pandemic’s onset. A quarter of this sample size consist of millennials.
Therefore, increased health awareness combined with secure supply chains is likely to sustain the growth of food ultrasound market throughout the course of the pandemic crisis.
Competitive Landscape
The global food ultrasound market is characterized by the presence of numerous global level manufacturers. Prominent strategies adopted by them include technological innovations, partnerships, collaborations with research organizations and smaller players, acquisitions and new product launches.
In 2015, Hitachi High-Technologies Corporation collaborated with QIAGEN N.V., involving initiatives to deliver important advances in molecular testing. This collaboration aimed to develop new automation based PCR and NGS systems.
In a similar vein, Siemens Healthcare has launched the ACUSON X700TM Ultrasound System, comprising a 20” LED widescreen display, 180o articulating arm, one-touch image optimization and customizable measurements & presets.
In 2017, researchers at University of British Columbia developed a laser-equipped spectrometer, complete with statistical analysis to ascertain possible adulteration of ground beef samples, with 99% accuracy.
Fujifilm manufactures the Vevo MD ultra-high frequency machine series, equipped with a Power Doppler, which is capable of visualizing the minutest anatomy which a conventional ultrasound cannot achieve.
More Insights on FMI’s Food Ultrasound Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global food ultrasound market, analyzing historical demand from 2015-2019 and forecast statistics for 2020-2030. The study reveals growth projections on the food ultrasound market on the basis of food product (meat, beverages, fruits & vegetables, dairy, bakery & other food products) and frequency range (low intensity & high intensity) across seven prominent regions.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.