PUBLISHER: Orion Market Research | PRODUCT CODE: 1078118
PUBLISHER: Orion Market Research | PRODUCT CODE: 1078118
Global Food Authenticity Market Size, Share & Trends Analysis Report by Technology (Polymerase Chain Reaction Based, Isotope Methods, Immunoassay/Elisa Based, Mass Spectrometry, and Others), and by Target Testing (Adulteration Tests, Meat Speciation, False Labeling, and Others) Forecast Period (2022-2028)
The global food authenticity market is anticipated to grow at a significant CAGR of 9.4% during the forecast period.Consumers have become skeptical about the authenticity of food products meant to meet specific demands, such as vegan, free-form, organic, and others, due to the rising prevalence of food fraud in the industry, which includes the deliberate substitution of ingredients, misleading consumers with false claims, and disruptive labeling of. As a result, food manufacturers have turned to food authentication procedures as the most efficient approach to distinguish their products from conventional offers and acquire significant market share.
The global food authenticity market is segmented based on technology and target testing. Based on the technology, the market is further segmented into PCR-based, mass spectrometry, isotopes method, immunoassay/Elisa based, and others. PCR-based technology is expected to hold a significant share in the market followed by mass spectrometry. Further, based on target testing, the market is segmented into adulteration tests, meat speciation, false labeling, and others. Food adulteration test is expected to contribute a prominent share in the market due to increasing food adulteration activities across the globe.
Geographically, the global food authenticity market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, and Others), and the Rest of the World (the Middle East and Africa, and Latin America). North America and Europe are expected to contribute a major share owing to the presence of stringent government policies to ensure food authenticity. Further, Asia-Pacific is expected to witness a considerable growth rate during the forecast period.
The major companies serving the global food authenticity market includeEurofins, Intertek PLC, SGS SA, and Thermo Fisher Scientific among others. These key manufacturers are adopting various strategies such as new product launches and approvals, mergers and acquisitions, partnerships, collaborations, and many others to stay competitive in the environment. For instance, in January 2021, SwissDeCode raises $3.7 million to accelerate the technology for real-time certification of food authenticity and quality.The new funding will be used to accelerate the development of a rapid on-site food testing and certification platform.
Research Methodology
The market study of the global food authenticity market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macroeconomic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of the market size, andintended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers
Category-Food and Beverages