Food Authenticity Market 2023 – 2030 By Food Tested (Meat & Meat Products, Dairy & Dairy Products, Cereals, Grains, and Pulses, Processed Food and Others),Target Testing, (Meat Speciation, Country of Origin and Ageing, Adulteration Tests, and False Labelling), Technology (PCR (Polymerase Chain Reaction)-Based, Liquid Chromatography- Mass Spectrometry, Isotope Method, Immunoassay-Based/Elisa (Enzyme-Linked Immunosorbent Assay) and Others) - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits
Industry : FMCG | Pages : 173 Pages | Published On : Jul 2023
The global food authenticity market reached a value of $5.3 billion in 2017 and is projected to reach $10.0 billion by 2030, growing at a CAGR of 6.9% from 2023 to 2030. Food authenticity involves laboratory testing to validate the composition and quality of food products. Various food and beverage items such as fruit juice, edible oil, beer, and wine can undergo advanced instrumental testing to ensure their purity. It is also utilized to verify the accuracy of label claims on food products.
The market is driven by the implementation of stringent regulations worldwide to combat food fraud, an increase in economically motivated adulterations (EMA) due to intense competition among food producers, and a rise in instances of food debasement, including adulterations, false labeling, and certification issues. Additionally, the rapid growth of international trade and the growing consumer awareness regarding food authenticity and certification are expected to fuel market expansion. However, challenges such as a lack of food control infrastructure in developing economies, complex testing techniques, and regulatory harmonization issues may impede market growth in the near future. On the other hand, technological advancements such as onsite testing kits and the emerging markets in Asia-Pacific, South Africa, and other regions present promising opportunities for market growth.
Asia-Pacific is experiencing significant growth in the food authenticity market compared to other regions. The region's improving economic conditions and increasing disposable income are key drivers for market expansion. Additionally, the LAMEA region has witnessed economic growth, leading to more companies adopting food testing methods and contributing to overall market growth. Consequently, there are untapped regions in Asia-Pacific and LAMEA that hold substantial growth prospects in the coming years.
The market is categorized into different segments based on target testing, technology, and food tested. Target testing includes Meat Speciation, Country of Origin and Ageing, Adulteration Tests, and False Labelling. Adulteration tests are the most widely used type of food authenticity testing, while meat speciation testing is expected to experience the highest growth.
In terms of technology, the market is divided into PCR (Polymerase Chain Reaction)-Based, Liquid Chromatography-Mass Spectrometry, Isotope Method, Immunoassay-Based/ELISA (Enzyme-Linked Immunosorbent Assay), and Others. PCR technology is the most commonly used in the food authenticity market.
The market is further segmented by the type of food tested, including Meat & Meat Products, Dairy & Dairy Products, Cereals, Grains, and Pulses, Processed Food, and Others. Processed food is the dominant segment, but meat & meat products are gaining popularity and expected to have the highest growth.
The report focuses on analyzing the growth prospects, restraints, and opportunities in the global food authenticity market. It includes Porter's five forces analysis to understand the impact of factors such as competitive intensity, supplier bargaining power, threat of substitutes, threat of new entrants, and buyer bargaining power in the market.
Major players analyzed in the report include SGS S.A., Intertek Group Plc., Eurofins Scientific SE, ALS Limited, LGC Science Group Ltd., Mérieux Nutrisciences Corporation, Microbac Laboratories, Inc., EMSL Analytical Inc., Romer Labs Diagnostic GmbH, and Genetic ID NA, Inc.
Covid-19 Impact Analysis
The food authenticity industry was negatively impacted by the pandemic due to government restrictions and regulations, which affected the authorities' ability to efficiently check food authenticity. Testing laboratories faced constraints in following social distancing guidelines and experienced reduced availability of materials and staff.
However, the industry is expected to experience increased sales in the post-Covid scenario due to the persistent consumer focus on health and wellbeing caused by the pandemic.
Key Benefits for Stakeholders
The report provides an extensive analysis of current and emerging trends and opportunities in the food authenticity market. It offers qualitative and quantitative analysis of the current trends and future estimations, helping evaluate the market opportunities. The report includes forecasts, information on key drivers, restraints, and opportunities. It also analyzes key product positioning and monitors top competitors within the market framework. Additionally, the report provides qualitative insights on potential and niche segments or regions exhibiting favorable growth.
Food Authenticity Market Report Highlights
By TARGET TESTING
• Meat Speciation
• Country of Origin and Aging
• Adulteration Test
• False Labelling
• PCR (Polymerase Chain Reaction) Based
• Liquid Chromatography-Mass Spectrometry
• Isotope Method
• Immunoassay-Based/Elisa (Enzyme-Linked Immunosorbent Assay)
By FOOD TESTED
• Meat & Meat Product
• Dairy & Dairy Product
• Cereal, Grain, and Pulse
• Processed Food
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o South Africa
o Rest of LAMEA
Table and Figures
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Covered Key Topics
Market Growth Drivers
Leading Market Players
Company Market Share
Market Size and Growth Rate
Market Trend and Technological