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Food Certification Market Projected to Reach $11.45 Billion by 2023 | Top Key Players are DEKRA SE, DNV GL, Intertek Group Plc, SGS SA, TÜV SÜD, Lloyd’s Register, Eurofins Scientific, Kiwa Sverige, ALS Limited

05-29-2019 02:12 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets.com

Food Certification Market

Food Certification Market

The report "Food Certification Market by Type (ISO 22000, BRC, SQF, IFS, Halal, Kosher, Free-From Certification), Application (Meat, Poultry, and Seafood, Dairy, Infant Food, Beverages, Bakery & Confectionery), Risk Category, and Region - Global Forecast to 2023" The food certification market is estimated to be valued at USD 8.87 Billion in 2018, and is projected to reach USD 11.45 Billion by 2023, at a CAGR of 5.2% from 2018. The market is driven by the factors such as increasing consumer awareness about certified food products, growing demand for processed meat products certification, and rising prevalence of foodborne illness. Furthermore, growing international trade, coupled with increasing food safety regulations, has been boosting the demand for food certifications.

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By type, ISO 22000 segment to lead the food certification market from 2018 to 2023

ISO 22000 is a food safety management system that is recognized across the world and can be applied to any organization in the food supply chain. ISO 22000 helps organizations to identify and control food safety hazards as well as to integrate food safety management with quality, environment, and health management systems. In addition, it simplifies the processes without compromising on the quality of the food products. Thus, the ISO 22000 segment is projected to grow at a significant CAGR during the review period.

Free-from foods segment projected to grow at the highest CAGR, by application, from 2018 to 2023

The free-from segment of the global food certification market is projected to grow at the highest CAGR during the forecast period. It includes a variety of food ingredients or processed foods that are labeled with “free-from” certifications. Increase in demand for gluten-free and allergen-free certified products as well as organic foods which are free from chemical fertilizers, pesticides, GMOs, and growth regulators is projected to drive the growth of this segment in the next five years.

High-risk foods segment projected to grow at the highest CAGR, by risk category, from 2018 to 2023

The high-risk foods segment, by risk category, is projected to grow at a relatively higher rate during the forecast period. Due to their highly perishable nature, stringent quality standards are maintained while manufacturing, storing, and transporting these products. Strong regulations are imposed by the governments across the world for the manufacturing, handling, and trading of high-risk products. Therefore, this segment is projected to grow at the highest CAGR during the review period.

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North America is projected to be the fastest-growing region during the forecast period.

The North American region is projected to grow at the highest CAGR during the forecast period. The North American market is mainly driven by the strong food safety regulations imposed by the governments across the North American countries for imported goods.

The US accounted for the largest country-wise market for food certification in the North American region, and is majorly driven by the factors such as initiatives taken by the US government pertaining to certification and accreditation services and promotion of food certifications such as Safe Food Quality (SQF), GlobalGAP, and British Retail Consortium (BRC). Canada is the second-largest food certification market in this region. The stringency of food safety and import-export regulations imposed by the Canadian government are driving the market in the country.

This report includes a study of business strategies, along with the product portfolios, of leading companies such as DEKRA SE (Germany), DNV GL (Norway), Intertek Group Plc (UK), SGS SA (Switzerland), TÜV SÜD (Germany), Lloyd’s Register (UK), Eurofins Scientific (Luxembourg), Kiwa Sverige (Sweden), ALS Limited (Australia), and UL LLC (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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