Fairfield Market Research, a leading market intelligence firm, has recently conducted an in-depth analysis of the global food authenticity testing market. The findings reveal a promising growth path for the market in the coming years. With an estimated $8 billion in recorded revenue by 2022, the food authenticity testing market is poised for significant expansion.
Read more: https://www.fairfieldmarketresearch.com/report/food-authenticity-testing-market
Market analysis in brief
In today’s consumer landscape, individuals are increasingly conscious of the quality and authenticity of the food they consume. Concerns about food fraud, mislabeling, and contamination have driven consumers to demand transparency and accurate labeling. In response, government officials and regulatory bodies are introducing stricter rules to prevent food fraud and ensure food safety. This growing emphasis on transparency and safety has led to an increase in demand for food authenticity testing.
Additionally, manufacturers and brands throughout the food industry are recognizing the importance of food authenticity testing as a means of gaining a competitive advantage. By assuring consumers of their commitment to quality and authenticity, companies can build trust and loyalty. As a result, the food authenticity testing industry is expected to boom in the coming years, driven by the growing importance of food safety testing and consumer confidence in the food industry.
Key findings of the report
Based on Fairfield Market Research’s comprehensive study, the following key findings emerged:
- Firm Market Size: In 2022, the global food authenticity testing market reached a significant size, with revenue reaching nearly $8 billion.
- Growth catalyst: The growth of food trade across borders, especially in emerging markets, has created favorable conditions for the food authenticity testing market. Expanding food trade increases the risks of counterfeit products, food fraud and inadequate regulatory frameworks. Consequently, retailers are increasingly emphasizing food authenticity testing to identify mislabeling, detect adulteration, and ensure compliance with international regulations.
- Advances in technology: PCR-based technology has emerged as the leading technique for testing food authenticity. This technology enables accurate identification of different DNA fragments in food samples, facilitating verification of product authenticity and confirmation of product claims.
- Regional dominance: North America claims dominance in the global food authenticity market, driven by strict regulations, a strong food safety culture, and a high level of consumer awareness.
- Notable players: SGS, Bureau Veritas, Eurofins, Intertek and Mérieux NutriSciences are among the key international players shaping the food authenticity testing industry. These organizations offer comprehensive testing solutions and enjoy a strong reputation for their expertise and reliability.
Growth drivers
Several factors are driving the growth of the global food authenticity testing market:
Increasing food trade across borders
Emerging markets face challenges related to counterfeit products, food fraud and inadequate regulatory frameworks. The expansion of food trade across borders exacerbates these risks, making food authenticity testing vital. By implementing rigorous testing measures, sellers can identify mislabeling, detect counterfeiting and ensure compliance with international regulations. Food authenticity testing helps ensure product claims are accurate and prevents the entry of substandard or unsafe food products.
Growing demand for packaged foods
The global food authenticity testing market is experiencing robust expansion, driven by rising health concerns among consumers and growing demand for packaged food. With a busy lifestyle, individuals rely on pre-packaged and convenience food more than ever before. This change in dietary preferences requires strict quality control measures. Additionally, consumers are increasingly aware of the potential health risks associated with consuming adulterated or adulterated foods, driving the demand for food authenticity testing.
Rapid advances in detection methods
Technological advancements in the industry are facilitating the continuous growth of the global food authenticity testing market. Techniques such as stable isotope analysis, DNA sequencing and spectroscopy have significantly improved detection capabilities, enabling more reliable and comprehensive testing. Analytical technologies have become more accurate, efficient and accessible, thus increasing the overall reliability of food authenticity testing.
Growth Challenges
Despite the promising trajectory, the global food authenticity testing market faces certain challenges:
Inadequate technical skills
One of the major constraints to market growth is inadequate technical capability within small and medium-sized enterprises (SMEs). Limited resources, limited financial capabilities and increasing cases of mislabeling present challenges for businesses. Creating and maintaining brand equity is also a significant hurdle for market players. Also, the lack of harmonized standards for food safety and quality hinders the smooth expansion of the market.
Overview of key segments
The global food authenticity testing market can be segmented on the basis of techniques, foods tested and regions:
The most preferred technique is based on PCR
PCR-based techniques have gained considerable traction in the market. This technique amplifies DNA fragments extracted from food samples, enabling accurate identification of different DNA in a product. PCR-based technology plays a crucial role in verifying the authenticity of products and accurately measuring the presence of offenders, meat or GMOs.
The main processed food segment
Among the foods tested, processed foods are the leading segment in the global food authenticity testing market. Increased globalization has led to the export of ingredients and products from different regions around the world. With this increasing globalization, the number of frauds and counterfeiters of processed foods has also increased, driving the demand for authenticity testing in this segment.
Regional segmentation
Europe represents a major market share in the global food authenticity testing market. Favorable policies implemented by local government units, such as National Reference Laboratories (NRL), drive the growth of the regional market. The region’s focus on food safety, increased consumer complaints and labeling compliance contribute to Europe’s dominant market position. On the other hand, the Asia Pacific region is projected to witness the highest growth, driven by rapid economic development, changing dietary preferences, and rising disposable incomes.
Key industry participants
The global food authenticity testing market is supported by various international market players. Some of the prominent organizations contributing to the growth trajectory of the market include:
- Krishgen Biosystems (USA)
- IEH Laboratories and Consulting Group (USA)
- AES Laboratories (India)
- SGS (Switzerland)
- Bureau Veritas (France)
- Intertek (UK)
- Merieux NutriSciences (USA)
- ALS Limited (Australia)
- Neogene (USA)
- AsureQuality (New Zealand)
- Beauty Sciences (USA)
- Premier Analytical Services (UK)
- Dairyland Laboratories (USA)
- AES Laboratories (India)
- Bio-Check (UK)
- Envirologix Inc. (USA)
CONCLUSION
The global food authenticity testing market will experience significant growth in the coming years, driven by factors such as increasing cross-border food trade, increasing demand for packaged food, and rapid advancements in detection methods. However, challenges related to insufficient technical skills and lack of harmonized standards remain. Key market segments, including PCR-based techniques and processed food testing, will continue to play key roles in shaping the market. Europe currently holds a major share of the market, while the Asia Pacific region is expected to witness the highest growth. Major international players, such as SGS, Bureau Veritas and Mérieux NutriSciences, are contributing to the growth of the industry through their expertise and comprehensive testing solutions.
Visit our blog: https://www.fairfieldmarketresearch.com/blog/the-global-last-mile-delivery-market-a-comprehensively-insightful-overview
https://vocus.cc/article/64b73b49fd89780001ba1d2a
https://www.itsmytime.in/news/food-authenticity-testing-market-current-and-future-trends-opportunities-and-forecasts-2023-2030-132447
https://www.superblinkz.com/business/food-authenticity-testing-market-size-share-type-report-2030/?snax_post_submission=success
https://snegic.net/blogs/41999/Food-Authenticity-Testing-Market-Exploring-Current-and-Future-Industry-Size
For further details, please visit www.fairfieldmarketresearch.com
CONTACT
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA (toll free) +1 (844) 3829746
Email: [email protected]
