Covid-19 Impact on Food Certification Market Trends, Current Demand, and Business Opportunities Till 2021

Some of the major factors that are anticipated to drive growth of the global food certification market in the tenure of forecast period include-

Rising awareness among consumers regarding certified food products along with growing prevalence of foodborne diseases.

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Growing demand for processed meat products has resulted in increase in meat fraud cases. Globally, malpractices and adulteration incidents for meat and meat products are influencing meat certification market.

Religious concerns among consumers, primarily, Jewish and Islamic consumers are fuelling demand for kosher and halal certification for meat and meat products. These religious groups are extensively inclined towards kosher and halal meat for consumption, owing to their beliefs.

Besides above mentioned factors, rising disposable income among the urban population. Subsequently, families in metropolitan cities are inclined towards use of prepackaged food items available in the market at convenience stores, supermarkets, and hypermarkets.

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The factor, further, is anticipated to push the horizon of the global food certification market.

Rising awareness regarding health issue among consumers has been impelling them to check the product level thoroughly to understand whether the merchandise is properly certified or not. The ongoing shopping pattern is anticipated to push boundary of the global food certification market during the forecast period.

Further, advent of new food merchandise in the market is projected to boost the global food certification market in forthcoming years. Due to hectic lifestyle, working class is population is dependent for groceries and other edibles from supermarkets due to the convenience.

This, in turn, has resulted in augmented sales of frozen food products. The frozen or, convenience food products have longer shelf life and can be restored in refrigerators. In addition, such food products save on the preparation time.

The demand for food certification is increasing in response to the rising prevalence of food-borne diseases. The recent instances of food contamination reported across emerging economies have compelled governments to mandate food certifications. Currently, International Organization for Standardization (ISO 22000), Safe Quality Food Certification, International Food Standard, British Consortium Standard, Halal Certification, and Kosher Certification are the most popular certifications in the international market, states Transparency Market Research (TMR). The demand for these certifications is expected to increase in the forthcoming years as food trade across developing nations rises.

Besides this, the changing consumption pattern and the subsequent demand for convenience food will fuel the demand for food certifications. However, the high cost of a majority of these certifications will inhibit their proliferation in small businesses. Nevertheless, TMR expects the market to report a CAGR of 5.3% between 2015 and 2021.

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The global food certification market stood at US$11.25 bn in 2014 and is expected to reach US$16.09 bn by the end of 2021.

Rising Awareness about Food Contamination to Fuel Demand for Food Certifications
Based on application, poultry products and processed meat, organic food, dairy products, infant food products, beverages, and others packaged food segment (comprising bakery products) constitute the key segments in the global food certification market. Of these, the others packaged food segment held the dominant share of 23.4% in the market in 2014. Increasing brand consciousness among consumers and the rising awareness about food hazards are the key factors fuelling the demand for food certification in this segment.

The market is also expected to witness increased demand from the processed meat and poultry and dairy products segments. However, TMR projects that their market share will decline over the course of the forecast period.

In the forthcoming years, food certification in the beverage segment is expected to increase considerably. Beverages include both carbonated and non-carbonated drinks. Certified manufacturers of beverages provide quality assurance, which is the key factor fuelling the demand for food certification in this segment.

Changing Consumption Patterns to Boost Demand for Food Certification in Europe
Regionally, Europe led the global food certification market in 2014, followed by North America. Consumers in the region exhibit high consciousness about the food they eat. This, combined with the rising standards of living, is fuelling the demand for food certification in Europe. Furthermore, the region is witnessing a growing inclination of consumers towards healthy food products, which is expected to give significant impetus to the regional market. Germany, France, and the U.K. are currently demonstrating the most lucrative opportunities in the market. According to TMR, the Europe food certification market is expected to reach US$5.77 bn by the end of 2021.

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North America is also a significant market for food certification. However, TMR expects Asia Pacific to report the fastest growth during the course of the forecast period. The rising standards of living and recent incidences of food contamination across emerging economies will fuel the demand for food certification in Asia Pacific. The prevalence of food-borne diseases has significantly increased in Asia Pacific and such concerns will also drive the need for food certification in the region.

Some of the players operating in the food certification market are ALS Limited, Underwriters Laboratories Inc., Dekra SE, Bureau Veritas, SGS SA, AsureQuality Limited, Lloyd's Register Group Limited, Intertek Group plc., TÜV SÜD AG, and DNV GL Group AS.

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This release was published on openPR.