Food Authenticity Market Size, Share, Price | Industry Report 2022

“Food Authenticity Market Size, Share, Price | Industry Report 2022” Market Research Report to It’s a Database.

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The food authenticity market is projected to reach USD7.50billion by 2022,at a CAGR of 7.6% from 2016 to 2022.Stringent regulations in various countries to ensure food authenticity, increased food frauds in terms of false labeling & certification, increased instances of adulterations are some major factors that are driving the food authenticity market. Lack of food control infrastructure & resources in developing countries, complexity of testing techniques, and lack of harmonization of regulations are the factors restraining the market growth.

The meat speciation segment is projected to grow at the highest CAGR during the forecast period, due to the increase in number of frauds in meat products and adulterations. Since the price of meat products is high, it is an attractive product for adulteration with cheaper meat to make profits. Therefore, meat adulteration is a common problem in many countries due to which detection of meat speciation has become crucial. This is followed by other adulteration tests segment, which is projected to remain the largest market through 2022.

• “Europe led the market with the largest share in 2015”

Europe was the largest food authenticity market in 2015. Governing organizations present in the market have enforced various food authenticity testing policies. The Asia-Pacific region is projected to be the fastest growing market through 2022 due to the increasing food safety concerns among the consumers and the growing market for processed food. France is projected to be fastest growing country in the European region.

The breakdown of the primaries on the basis of company type, designation, and region, conducted during the research study, is as follows:

• By Company type: Tier 1 – 40%, Tier 2 – 50%, and Tier 3 – 10%
• By Designation: C Level – 40%, and Director Level – 60%
• By Region: North America – 09%, Europe – 70%, Asia-Pacific – 18%, and RoW – 03%

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The key players in the food authenticity market include:

• SGS SA (Switzerland)
• Intertek Group plc (U.K.)
• Eurofins Scientific (Luxembourg)
• ALS Limited (Australia)
• LGC Science Group Ltd (U.K.)

The above-mentioned companies collectively accounted for the largest portion of the food authenticity market in 2015. Other players that also have a strong presence in this market are as follows:

• Merieux Nutrisciences Corporation (U.S)
• Microbac Laboratories Inc. (U.S.)
• EMSL Analytical Inc. (U.S.)
• Romer Labs Diagnostic GmbH (Austria)
• Genetic ID NA, Inc. (U.S.).

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This release was published on openPR.