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Food Authenticity Market Competitive Landscape 2017 - 2025 : LGC Science Group Ltd., ALS Limited, Eurofins Scientific, Intertek Group plc

11-05-2018 11:46 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR Research

Food Authenticity Market Competitive Landscape 2017 - 2025 : LGC Science Group Ltd., ALS Limited, Eurofins Scientific, Intertek Group plc

Global Food Authenticity Market: Overview

Food authenticity can be tested for a variety of food products such as fruit juices, edible oils, beer, and wine with a view to lab check their genuineness. All food and beverage products are precisely and thoroughly tested for their purity with the employment of advanced instrumentation in food authenticity testing. Besides determining the purity of a food product, food authenticity testing is required for ensuring whether the contents match with the label claims.

Global Food Authenticity Market: Key Trends

The international food authenticity market is anticipated to gain an impressive impetus with the rising awareness about food regulations and authenticity among consumers. Apart from this significant growth factor of the international food authenticity market, the telling rise in food authenticity concerns on the part of consumers is expected to continue taking precedence from the previous few decades. The implementation of food safety and quality via different mediums such as nutrition facts, claims, and labeling is anticipated to be heavily influenced by consumer awareness in the international food authenticity market.

Lack of conformity among regulations, convolution of testing techniques, and dearth of food control resources and infrastructure in less developed nations are predicted to cripple the rise of the international food authenticity market. Howbeit, leading companies at the forefront of technological advancement could look to repair the downfall of the international food authenticity market with the launch of their various innovations.

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The AgriTech laboratory of Intertek opened doors in May 2016 to conduct DNA-based testing of a diverse range of agricultural products. A couple of months later, the company launched another technology built on NMR (nuclear magnetic resonance) spectroscopy for performing honey authenticity testing. Such innovations are evident of the comeback of the international food authenticity market.

Global Food Authenticity Market: Market Potential

By 2020, the restaurant business in India is prognosticated to testify some revealing changes, said the food and beverage manager of Hotel Marine Plaza. International ambiences, live kitchens, different service styles, and innovative ideas are some of the crucial factors that could upgrade the Indian restaurant industry. Interactive kitchens, in particular, are envisioned to play a vital role in attaining the legacy and authenticity of Indian as well as international foods. Customized menus and grandmother’s recipes are other trends that could make a mark in the India food authenticity market.

Global Food Authenticity Market: Regional Outlook

The conducive efforts taken by the European academy of allergy and clinical immunology (EAAACI), EU reference laboratories (EURLs), and national reference laboratories (NRLs) are prophesied to help Europe have a whip hand over the worldwide food authenticity market. Food authenticity policies being comprehensively fortified by such institutions are envisaged to prove the dominance of the Europe food authenticity market. Other factors that could optimistically impact Europe in the worldwide food authenticity market are labeling compliance, substantial count of consumer complaints, and enforcement of food authenticity norms.

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With the need for food authenticity confirmation and towering labeling requirements on account of mushrooming international food trading, North American countries such as the U.S. are foreseen to be in the limelight of the global food authenticity market. Asia Pacific could be a faster growing region in the global food authenticity market.

Global Food Authenticity Market: Competitive Landscape

LGC Science Group Ltd., ALS Limited, Eurofins Scientific, Intertek Group plc, and SGS SA are some of the ruling players in the global food authenticity market. A novel DNA chip technology was set in motion by Eurofins Scientific in June 2015 which has the capability of concurrently identifying and detecting 21 animal species in food and feed offerings.

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About TMR Research

TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.

Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.

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Email: sales@tmrresearch.com

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