Food Authenticity Market estimated to reach $10.0 billion by 2030

A new study by Future Market Insights opines food authenticity market to grow at a steady pace through 2030. Adoption will be driven by growing consumer focus on food safety and growing clean label trend. FMI’s new study tracks food authenticity market in 20+ countries for the period 2020-2030.

The COVID-19 pandemic presents an exceptional and unprecedented challenge for competent authorities with responsibilities for national food safety control systems. As consumers resort to consuming health and immunity boosting foods, demand for clean-label products is rising exponentially.

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According to the study, in recent years, access to pure and adulterant free foods has come under significant jeopardy. Widespread prevalence of food adulteration, mislabeling and undisclosed ingredient details have generate a massive furor amongst health conscious consumers as well as healthcare providers.

On an average, approximately 57% of the global population suffers from morbidities inflicted due to consumption of sub-standard and contaminated foodstuffs. Moreover, nearly 1/4^th of the world’s food supply is adulterated annually. Realizing this, countries have taken proactive steps to mitigate the adverse effects of food adulteration.

Increasing consciousness among consumers has elevated the need for introducing clean-label, organic-based and naturally derived foods. Based on these developments, the global food authenticity market is all set to experience an impressive upsurge in the coming years.

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Key Segments

Food Tested

[*]Meat & Meat Products
[*]Dairy & Dairy Products
[*]Processed Foods
[*]Other Food Tested

Target Testing

[*]Meat Speciation
[*]Country of Origin & Ageing
[*]Adulteration
[*]False Labelling

Technology

[*]PCR-Based
[*]Liquid Chromatography-Mass Spectrometry (LC-MS)
[*]Isotope
[*]Immunoassay Based/ELISA
[*]Other Technologies

Region

[*]North America (U.S & Canada)
[*]Latin America (Brazil, Mexico & Rest of Latin America)
[*]Europe (Germany, Italy, France, U.K, Spain, BENELUX & Rest of Europe)
[*]South Asia (India, ASEAN & Rest of South Asia)
[*]East Asia (China, Japan & South Korea)
[*]Middle East & Africa (GCC, South Africa, Israel & Rest of MEA)
[*]Oceania (Australia & New Zealand)

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Key questions answered in the report

• What are the growth prospects of food authenticity market?
  The global food authenticity market is slated to record largely positive growth, experiencing a healthy CAGR throughout 2020-2030. Growth is primarily being underpinned by surging demand for clean-label and adulterant free foods across lucrative markets.
• What will be the impact of COVID-19 on food authenticity market?
  While the global economy hurtles towards a massive recession due to the pandemic, the scope for food authenticity market growth remains largely optimistic in nature.This high level of confidence in positive growth stems from the fact that more number of consumers are demanding good quality foodstuffs amid fears of the virus finding its way into the human body through the consumption of adulterated foods.
• Which is the largest market for food authenticity players?
  Asia-Pacific is slated to emerge as the most lucrative revenue generator, attributed to a large population base. Majority of food testing demand is likely to be stimulated from China and India, the world’s most densely populated countries. This is because the prevalence of food adulteration is maximum across these countries.
• Which food category is likely to witness major adoption of food authenticity tests?
  The meat & meat products segments is scheduled to experience maximum applications of food authenticity tests, owing to heightened instances of meat consumption around the world. In recent years, complaints regarding availability of sub-standard meat quality has prompted countries to enforce strict guidelines concerning meat quality testing and sales around the world.
• Who are the leading food authenticity market players?
  Presently, the global food authenticity market is interspersed with the presence of the following market players: EMSL Analytical Inc, Genetic ID NA Inc., Eurofins Scientific SE, Merieux NutriSciences Corporation, Intertek Group PLC, Microbac Laboratories Inc., SGS SA and Romer Labs.The aforementioned players employ a combination of tactics such as product launches, technological advancements, strategic acquisitions and expansion of research facilities in untapped markets.

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