Food Certification Market - What's Next in 2015-2021?

Owing to the rising cases of food-borne diseases, the need for proper food certification is growing significantly. Recent incidences regarding food contamination in several developing countries have compelled government bodies to impose mandatory food certifications. At present, the prime organizations for food certification across the world are Kosher Certification, Halal Certification, British Consortium Standard, International Food Standard, Safe Quality Food Certification, and International Organization for Standardization (ISO 22000). With the rise in food trade among emerging economies, the implementation of these certifications is anticipated to rise.

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According to a research report by Transparency Market Research, the global food certification market is likely to exhibit a 5.3% CAGR from 2015 to 2021. In 2014, the market was valued at US$11.25 bn and is likely to escalate to US$16.09 bn by 2021, owing to the change in food consumption patterns across the globe.

How will the increasing incidence of food contamination boost the adoption of food certifications?

In terms of application, the global food certification comprises beverages, infant food products, dairy products, organic food, bakery products, and processed meat and poultry products. All these food products are prone to food contamination. As consumers are becoming more aware of the risks related to food contamination, the demand for laboratory food testing and food certification is increasing extensively.

For instance, owing to recent controversies related to Nestle India Ltd’s Maggi, and keeping in mind several safety concerns, Food Safety and Standards Authority of India (FSSAI) has recently announced an investment of INR 482 crore to upgrade food testing laboratories. It has planned to improve 14 referral food testing laboratories and 45 prime laboratories across the country.

What are the factors likely to challenge the growth of the market?

Although the global market for food certification is witnessing promising growth, the high costs incurred during the certification process is expected to deter food companies and processing outlets to look at food certification from an asset point of view. Established companies are investing heavily to attain logos such as Halal or Organic; on the other hand, smaller companies are refraining from this process. However, strict regulations imposed by governments across the world to ensure food safety are likely to propel the adoption of food certifications.

Which region is expected to pave the way for growth opportunities for manufacturers?

Region-wise, Europe emerged dominant in 2014 in the global food certification market, closely trailed by North America. The growth of the market in these regions can be attributed to the high consciousness among consumers regarding the quality and safety of the food consumed by them. Additionally, the growth in the living standards and the rising inclination towards the consumption of healthy food products are expected to stir the demand for food certifications. Nevertheless, it is expected that Asia Pacific will report strong growth due to the rise in food-borne diseases across the region.

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This release was published on openPR.