Food Authenticity Global Market Expected to Achieve $10.83 Billion at a CAGR of 7.7% By 2028 | Key Players: SGS SA, Intertek Group PLC, Eurofins Scientific SE, ALS Limited, LGC Science Group Ltd.

The Business Research Company presents an extensive market research report on the ""Food Authenticity Global Market Report 2023,"" furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Food Authenticity industry. This report on Food Authenticity market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The food authenticity market size has grown strongly in recent years. It will grow from $7.62 billion in 2023 to $8.06 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to consumer concerns, food fraud incidents, regulatory compliance, supply chain complexity, increased global trade. The food authenticity market size is expected to see strong growth in the next few years. It will grow to $10.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.

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Key Market Players:
SGS SA, Intertek Group PLC, Eurofins Scientific SE, ALS Limited, LGC Science Group Ltd., Microbac Laboratories Inc., EMSL Analytical Inc., The Progressive Corporation are prominent players in the Food Authenticity industry.

Market Drivers:
Rising food fraud is expected to propel the growth of the food authenticity market going forward. Food fraud, like food defense, falls under the umbrella of food protection. Both can be economically driven, but the objective of food fraud is monetary gain, whereas the purpose of food defense is to do harm by any kind of intentional, malicious adulteration or economic disruption, and is often ideologically motivated. Food authenticity is a positive way of approaching the problem of food fraud. It is a process that proves if a food or food ingredient is original or genuine and can be verified as such.

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Market segments for Food Authenticity include:
1) By Target Testing: Meat Speciation, False Labeling, Adulteration Tests, Country of Origin and Aging
2) By Food Tested: Meat and Meat Product, Dairy and Dairy Product, Cereal, Grain, and Pulse, Processed Food, Other Food Tests
3) By Technology: Polymerase Chain Reaction Based, Liquid Chromatography-Mass Spectrometry, Isotope Method, Immunoassay Based or ELISA, Other Technologies

The report answers the following questions:

What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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