Increase in Incidence of Food Frauds Driving the Food Authenticity Market

Northbrook, USA, 2020-Jan-28 — /EPR Network/ — The food authenticity testing market, in terms of value, is projected to reach USD 7.50 billion by 2022, at a CAGR of 7.6% from 2016 to 2022. The growing international trade is one of the factors driving this market as compels the manufacturers to comply with the global mandates and regulations for food authenticity due to the growing economically motivated adulterations (EMAs). As international trade increases complexities in the supply chain and the chances of cross-contamination and fraud, the demand for food authentication services is projected to remain high.

The objectives of the report:

• To define, segment, and project the size of the global food authenticity testing market on the basis of target testing, technology, and food tested
• To understand the structure of the food authenticity testing market by identifying its various subsegments
• To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market
• To analyze the opportunities in the market for stakeholders and provide a competitive landscape of market trends
• To project the size of the market and its submarkets, in terms of value, with respect to four regions (along with their respective key countries)–North America, Europe, Asia-Pacific, and the Rest of the World (RoW)

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=157288822

The adulteration test segment accounted for the largest share in the food authenticity market in 2015

The market for adulteration tests, among all the types of food authenticity, accounted for the largest share in 2015. This increased complexity in the supply chain is creating multiple challenges in the food industry to ensure food authenticity in terms of proper & correct labeling, GMO existence, preventing adulteration, and other economically motivated food frauds. Cutting cost due to competition is influencing adulteration trends. Due to this reason, instances of economically motivated adulteration (EMA) are growing in the market, which is identified as a major health threat for consumers.

PCR-based segment is projected to be the largest and fastest growing segment, by technology

PCR-based technology is found to be the most common, reliable, and widely used technology to ensure the authenticity of food products. Besides the market drivers, significant growth in adoption of this technology for food authenticity testing can be attributed to drawbacks of ELISA (enzyme-linked immunosorbent assay) technology, wherein the technology conducts DNA analysis for accurate determination of adulterant, meat species or GMO in products even at 0.1% levels of detection. PCR-based technology is projected to grow at the highest CAGR from 2016 to 2022.

The food authenticity testing market, based on food tested, is categorized into meat & meat products, dairy & dairy products, processed foods, ingredients, cereals, grains, and pulses. The processed food segment is projected to be the largest segment, whereas the meat & meat products segment is projected to witness the fastest growth in the market. The growth of the processed food segment is attributed to a wide number of processing applications of products such as infant formula, packaged food, wine, and other processed food products. Due to the increasing fraud and counterfeit instances in processed food products, the demand for the food authentication testing services remains high in this segment. On account of these factors, the processed food segment is projected to be the largest in the food authenticity testing market.

Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=157288822

Asia-Pacific is projected to be the fastest-growing region in the food authenticity market

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. European countries have recorded many issues related to food authenticity; as a result, stringent policies have been established to ensure complete food authenticity. Food safety authorities in Europe aim to protect consumer health by ensuring the quality of the food supply chain.

This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading companies such as SGS SA (Switzerland), Intertek Group plc (U.K.), Eurofins Scientific (Luxembourg), ALS Limited (Australia), LGC Science Group Ltd (U.K.), Merieux Nutrisciences Corporation (U.S), Microbac Laboratories Inc. (U.S.), EMSL Analytical Inc. (U.S.), Romer Labs Diagnostic GmbH (Austria), and Genetic ID NA, Inc. (U.S.).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com