Food Irradiation Market to cross the US$ 300 million mark by the end of 2030

A recent market report published by FMI on the Food Irradiation Market provides global industry analysis for 2015-2019 & forecast for 2020-2030. The report offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical, as well as current growth parameters of the Food Irradiation Market, the growth prospects of the market are obtained with maximum precision.

The global food irradiation market is scheduled to cross the US$ 300 million mark by the end of 2030, according to ESOMAR-certified firm, Future Market Insights’ new report. Sterilized foods are in high demand from hospitals, particularly for AIDS and chemotherapy patients. These foods assist in enhancing immunity by providing physical strength.

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Additionally, rising incidences of food poisoning due to consumption of adulterated foodstuffs has generated the need to implement proper food testing approaches and legislations, providing traction to the market. Amid the COVID-19 pandemic, the food irradiation market is expected to grow steadily over the forecast period.

“Rising incidences of food related mortalities is pushing vendors to invest in enhanced food irradiation technologies to make quality food available to potential customers,” opines the FMI analyst.

COVID-19 Impact Insights

The novel coronavirus pandemic has led to a major global economic downturn. Multiple industries are experiencing production cycle and supply chain disruptions due to government enforced lockdowns to contain the virus’s spread. Consequently, they are experiencing reduced profit and revenue margins.

Key Takeaways from FMI’s Food Irradiation Report

• Stringent government regulations to stimulate food irradiation market in upcoming years
• Gamma radiation sources to remain highly prevalent due to their effectiveness and safety
• Ozone-based food irradiation technology to acquire immense popularity, attributed to its eco-friendly nature
• Asia-Pacific to generate lucrative revenue prospects during the 2020-2030 forecast period
• Limited awareness about food irradiation techniques likely to restrain growth moderately

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Food Irradiation Market- Prominent Players

The global food irradiation market is interspersed with the presence of a plethora of regional and international level manufacturers. Some of the players profiled in this report include*:

• Food Technology Service Inc.
• Sterigenics International Inc.
• Gray Star Inc.
• Ionisos SA
• Nordion Inc.
• Reviss Services Ltd.
• Sadex Corporation
• Sterix Isomedix Services
• Scantech Sciences Inc.
• Phytosan SA De C
• Tacleor LLC.

Key Segments

Source

• Gama Radiation
• X-Ray Radiation
• Electron Beam Radiation

Technology

• Ultra-High Pressure
• Steam Pasteurization
• Food Coating
• Ozone Treatment
• Other Technologies

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Key questions answered in the report

• Identify the primary source of food irradiation.
  Gamma radiation is expected to emerge as the main source of food irradiation in the upcoming forecast period. High degree of safety and reliability of testing is considered a primary driver of the segment’s growth.
• What drives the global food irradiation market?
  According to FMI’s analysis, increasing incidences of food adulteration, contamination and poisoning amongst consumers is accelerating growth prospects for food irradiation technologies, the objective being the provision of clean and safe food.Additionally, rising demand for sterile foods across healthcare settings is also catapulting growth. Sterile foods are especially needed to boost immunity of patients suffering from debilitating conditions such as AIDS and cancer.
• Analyze COVID-19’s impact on the growth projections.
  The COVID-19 pandemic has ushered in a global recession, which has also impacted the food irradiation market. Government imposed lockdowns have decelerated laboratory testing of foodstuffs, causing a downswing.This sluggishness is anticipated to remain until the last quarter of 2021, after which the predicted growth trajectory is expected to become restored for the remainder of the forecast period.
• Which is the largest market for food irradiation?
  Asia Pacific is likely to be the fastest growing region, attributed to a rapidly exploding population base which has led to increased demand for clean and high quality foods.
• Which are the prominent players within the food irradiation landscape?
  Prominent players in the food irradiation landscape include Food Technology Service Inc., Sterigenics International Inc., Gray Star Inc., Ionisos SA, Nordion Inc., Reviss Services Ltd., Sadex Corporation, Sterix Isomedix Services, Scantech Sciences Inc., Phytosan SA De C and Tacleor LLC.

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