Food Authenticity Market Overview:
Food Authenticity Market was valued at $4,978 million in 2016, and is expected to grow at a CAGR of 7.7% to reach a value of $8,300 million in 2023. Food authenticity is a process of testing food in laboratories for validation and usage preference. Food & beverage products, such as fruit juices, edible oils, beer, and wine, can be tested for the detection of purity using advanced instrumentation. In addition, food authenticity is utilized to ensure label claims on the products.
The food authenticity market is driven by implementation of stringent regulations relating to food fraud globally, rise in EMA (Economically Motivated Adulterations) due to high competition among food producers, and increase in instances of food debasement such as adulterations, false labelling, and certification. Furthermore, rapid growth in international trade and increase in awareness among consumers related to food authenticity and certification are expected to boost the market. However, factors such as lack of food control infrastructure in the developing economies, complexity in testing techniques, and lack of harmonization of regulations are expected to hamper the market growth in the near future. In addition, technological advancements, such as test kits for onsite testing, and the emerging markets in Asia-Pacific, South Africa, and other countries are expected to provide lucrative opportunities for the market growth.
The report emphasizes on the different technologies used for food authenticity, which include polymerase chain reaction-based, liquid chromatography-mass spectrometry, isotope methods, immunoassay-based/ELISA, and others. Based on target testing, the market is classified into meat speciation, country of origin & ageing, adulteration tests, and false labelling. On the basis of food tested, it is categorized into meat & meat products; dairy & dairy products; cereals, grains, and pulses; processed foods; and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In addition, the report highlights various factors that impact the growth of the global market, such as key drivers, restraints, growth opportunities, and the role of different key players. It presents the quantitative data, in terms of both value and volume, which are obtained from the secondary sources such as company publications, Factiva, Hoovers, OneSource, and others.
Global Food Authenticity Market Segmentation
In 2016, Europe dominated the global food authenticity market owing to the increasing implementation of food safety regulations, large number of consumer complaints, and labeling compliance. However, Asia-Pacific is expected to witness the highest growth rate from 2017 to 2023, owing to the rise in awareness among consumers related to food safety and certification.
Top Investment Pockets
In 2016, the polymerase chain reaction (PCR) segment was the most lucrative in the market, followed by liquid chromatography-mass spectrometry (LC-MS) segment. The testing market through PCR-based technologies is driven by its wide applicability, accurate determination of adulterants, meat species, or GMO in products even at 0.1% levels of detection.
Top Investment Pocket
Geography Analysis - Food Authenticity Market
Europe witnessed the highest demand for food authenticity, owing to the stringent regulations implemented by the government to ensure food safety. Food authenticity policies are strengthened in Europe owing to the contributed efforts from organizations such as EU Reference Laboratories (EURLs), National reference laboratories (NRLs), and European Academy of Allergy and Clinical Immunology (EAAACI).
Spain Food Authenticity Market, 2016-2023 ($Million)
The key players profiled in the report are SGS S.A., Intertek Group PLC., Eurofins Scientific SE, ALS Limited, LGC Science Group Ltd., Mrieux Nutrisciences Corporation, Microbac Laboratories, Inc., EMSL Analytical Inc., Romer Labs Diagnostic GmbH, and Genetic ID NA, Inc.
The other major players (not profiled in report) in the market include AsureQuality, Thermo Fisher Scientific, Bureau Veritas S.A., Campden BRI Ltd., Fera Science Ltd., and others
Key Market Benefits
- This report provides an extensive analysis of the current and emerging market trends & dynamics of the global food authenticity market.
- The food authenticity market trend analysis for all the regions is done by constructing estimations for key segments from 2017 to 2023 to identify the prevailing opportunities.
- The report assists to understand the strategies adopted by the leading companies in the industry.
- This study evaluates competitive landscape of the food authenticity industry to understand the market scenario globally.
- Extensive analysis is conducted by key player positioning and monitoring the top competitors within the global market.
Food Authenticity Market Key Segments:
By Target Testing
- Meat Speciation
- Country of Origin and Ageing
- Adulteration Tests
- False Labelling
- Polymerase Chain Reaction-based
- Liquid Chromatography-Mass Spectrometry
- Isotope Methods
By Food Tested
- Meat & Meat Products
- Dairy & Dairy Products
- Cereals, Grans, and Pulses
- Processed Food
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA