Food Authenticity Market Size & Share 2023-2030 Analysis by Key Players - Intertek Group PLC, Merieux NutriSciences Corporation and Romer Labs

Food Authenticity Market Report Scope -

The SNS Insider report indicates that the Food Authenticity Market was valued at USD 7.2 billion in 2022, and it is projected to achieve a market size of USD 11.28 billion by 2030, with a compound annual growth rate (CAGR) of 6.4% expected over the forecast period from 2023 to 2030.

The food authenticity testing market is growing on the back of increasing consumer health concerns as well as increased demand for packaging. The R&D investments made by the producers of ready meals and processed food products are intended to comply with regulatory requirements. The implementation of strict food safety legislation, technological progress in testing methods and the International Trade on Food Materials are driving the global market for authenticity verification.

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Key Players Covered in this market report are:

SGS
ALS Ltd.
Eurofins Scientific SE
Emsl Analytical Inc.
Intertek Group PLC
Merieux NutriSciences Corporation
Romer Labs Inc.
Genetic ID NA Inc.
Microbac Laboratories Inc.
LGC Science

Market Growth Factors -

Increased economically motivated adulterations (EMA) due to high competition and rise in incidence of food frauds globally are the prime factors that boost the growth of the global food authenticity market in the near future. The authenticity market for food is driven by a number of regulations on food safety, particularly in the advanced economies, rising incidences of food fraud and increased economic motivation to mislabel foods due to high competition between producers. Food authenticity is the process of checking foodstuffs and beverages in a number of laboratories by way of various quality control, validation or user preferences methods. Food and beverage products can be checked for purity by means of sophisticated instruments, e.g. edible oils, packet food, beer, fruit juice, confections or wines. In order to verify the claims on the product labels, food authenticity shall also be used.

Segmentation Analysis -

The market is divided into meat specifications, country of origin and ageing, adulteration tests, false labelling and GMO testing according to the target test. The highest CAGR during the forecast period is expected for the meat speciation sector, which at present has the largest share of the market. The growing demand for this market is driven by the elements that contribute to the complexity of the supply chain and the increase in food fraud.

The global market for food authenticity testing was divided on the basis of technology into PCR Based, LNCMMS, Isotope Methods, Immunoassay Based and Others. In 2022, the PCR based technology segment accounted for the largest market share and is expected to grow at a compound annual growth rate of more than 8% over the forecast period. Variables that can be linked to its wide applicability, precise assessment of adulterants, meat species or GMOs in products at less than 0.1% have driven demand for this market sector.

Food Authenticity Market Segmentation as Follows:

By Target Testing
Meat Speciation
Adulteration Test
False Labeling
Country of Origin and Ageing

By Technology
PCR-Based
Liquid Chromatography-Mass Spectrometry (LC-MS)
Isotope Methods
Immunoassay Based/ELISA
Other

By Food Target Testing
Meat & Meat Products
Dairy & Dairy Products
Processed Foods
Other

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Key Regional Development -

In future prediction loans, North America, in particular the United States, is a dominant region for food testing. Increasing food inspection initiatives are driven by the spread of food fraud with dilution cases, misleading and detrimental effects on substitution. Due to the numerous cases of meat adulteration in European countries and strict compliance with safety procedures, Europe leads the global market for food authenticity. The Asia Pacific region is projected to be the most rapidly growing market for food authenticity, due to an increase in awareness and stringent government regulations which are affecting it.

Key Takeaway's-

Implementation of stringent regulations relating to food fraud globally, rise in Economically Motivated Adulterations (EMA) due to high competition among food producers, and increase in instances of food debasement such as adulterations, false labelling, and certification. In addition, the market is foreseen to be stimulated by a rapid growth in international trade and increased awareness of consumers on food authenticity and certification.

Recent Developments -

In July 2023, LIBS Fingerprinting Transforms Analytical Approaches to Uncover Food Authenticity. The report published in Atomic Spectroscopy describes how researchers employed laser-induced breakdown spectroscopy (LIBS) to carry out food quality analysis. The researchers enhanced their method to detect spectral patterns, allowing for precise categorization and identification of food samples.

In June 2023, Paola Dugo of the University of Messina in Italy gave the keynote talk at HPLC 2023 on a cutting-edge technology for analyzing complex food and natural product samples that integrates two-dimensional liquid chromatography with mass spectrometry (MS).

Table of Content - Analysis of Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Segmentation, By Product Type
9. Food Authenticity Market Segmentation, By Target Testing
10. Food Authenticity Market Segmentation, By Technology
11. Food Authenticity Market Segmentation, By Food Target Testing
12. Regional Analysis
13. Company Profiles
14. Competitive Landscape
15. Conclusion

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This release was published on openPR.