Food Certification Market to surpass US$ 9.30 Bn in 2031

A recent market study published by Future Market Insights on the food certification market offers global industry analysis for 2016-2020 & opportunity assessment for 2021–2031. The study offers a comprehensive assessment of the more important market dynamics.

The food certification market will register healthy growth in 2021 with worldwide revenues projected to increase by 10.30% year over year. Future Market Insights (FMI) has forecast the food certification market to reach US$ 8.4 billion in 2021 backed by the rising demand for food certified products.

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The food certification market will register healthy growth in 2021 with worldwide revenues projected to increase by 10.30% year over year. Future Market Insights (FMI) has forecast the food certification market to reach US$ 8.4 billion in 2021 backed by the rising demand for food certified products. The market also registered an impressive year-on-year growth at 10.30% CAGR in 2021 owing to the increasing demand for processed meat and halal-food products. Increasing cases of food-borne infection will create opportunities for growth in the coming years.

“Key players are capitalizing on increasing demand for clean-label certification and halal food. Strong distribution networks with food supply chain will create lucrative opportunities for the key players,” says the FMI analyst.

Food certifications demand is on the rise due to the increasing consumption of meat based products. Increased consumption have compelled the governing bodies to impose stricter norms for security and quality of food products. This, in turn, have spurred the growth of food certification market.

Rising per capita income and rapid economic growth in developing countries like India and China are driving the food industry. This coupled with increasing penetration of retail food chains and services will positively influence the market growth over the forecast period.

Food producers are increasingly offering certified products to gain the consumers trust. With rising awareness for food transparency and clean-label movement gaining momentum, impressive growth is on the cards.

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Key Takeaways from FMI’s Food Certification Market Study

Increasing consumption of processed food across the globe has spurred growth in the market. In terms of application, the meat segment will hold lion’s share in the global food certification market.
ISO 22000 and free-from certification type, collectively, are anticipated to dominate the market.
India is likely to emerge as a lucrative market due to the advent of multi-domestic food services and growing demand for halal food products.
Growing cases of foodborne diseases in the U.S are likely to spur the growth, bolstering the demand of food certification in the country.
China, Japan, and South Korea are expected to witness positive growth backed by the rising need for meat processed food certification.
Muslim countries in the Middle East will spur the market growth owing to the increased demand of kosher and halal certified food products.

Competitive Landscape

Key players in the market are adopting winning strategies such as collaborations and mergers among leading players. Food companies are adopting food certification methods that is creating lucrative opportunities for the key players.

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Most of the companies are actively involved in mergers and acquisition, following the thriving globalization trend in food sector. As per the analysis, top players contribute around 35-45% of global market share.

In January 2021, Upcycled Food Association (UFA) announced the adoption of the upcycled certification standard that would help consumers to identify products that help prevent food waste.
In June 2021, BlueNalu, a leading innovative food company developing variety of seafood directly from fish cells, announced the framework for food safety and quality assurance for cell-cultured seafood and commitment to GFSI third-party certification.

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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.

This release was published on openPR.