Press release
Food Authenticity Market Exhibits Robust Growth, Anticipates Reach of $10.83 Billion by 2028
Food Authenticity Market
Key Growth Drivers:
Combatting Food Fraud: The escalating concern over food fraud is a prime catalyst for the food authenticity market. The rise in illicit activities related to food, as highlighted by international operations against food fraud, necessitates the adoption of food authenticity processes. This positive approach ensures the verification of the originality and genuineness of food or food ingredients, countering the detrimental impact of food fraud.
Organic Food Awareness: Increasing awareness regarding the benefits of organic foods is a significant contributor to market growth. Consumers are increasingly health-conscious, seeking organic products cultivated without synthetic chemicals or GMOs. The global shift towards sustainability and the noteworthy increase in organic food and drink sales in regions like the UK underscore the pivotal role of food authenticity in meeting consumer preferences.
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Major Players:
Key players in the food authenticity market include SGS SA, Intertek Group PLC, Eurofins Scientific SE, ALS Limited, LGC Science Group Ltd., and others.
Market Trends:
Product Innovations: The market is witnessing a trend of new product innovations, with companies focusing on advanced technologies. For instance, HEBE LIFE, a UK-based nutricosmetics company, launched Eltronis' cloud-based software solution called Engage, enhancing product traceability and countering imitations.
Certification Advancements: Companies are actively pursuing certifications such as GLOBALG.A.P to enhance their services in the food authenticity sector. Mérieux NutriSciences Certification LLC, a US-based company, received approval as a GLOBALG.A.P. Certification Body, expanding its capabilities to provide comprehensive services to the food industry.
Regional Insights:
North America emerged as the largest region in the food authenticity market in 2023, while Asia-Pacific is expected to exhibit the fastest growth in the forecast period. The regions covered include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The food authenticity market covered in this report is segmented -
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
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Food Authenticity Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Food Authenticity Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on food authenticity market size, food authenticity market drivers and trends, food authenticity market major players, food authenticity market competitors' revenues, food authenticity market positioning, and food authenticity market growth across geographies. The food authenticity market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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