Food Authenticity Market to Reach $10.0 Bn, Globally, by 2030 at 6.9% CAGR: Allied Market Research

Emergence of advanced techniques to bring ease in food authentication and implementation of stringent regulations relating to food fraud globally drive the growth of the global food authenticity market.

PORTLAND, Ore., Jan. 17, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Food Authenticity Market by 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), and Food Tested (Meat & Meat Products, Dairy & Dairy Products, Cereals, Grains, and Pulses, Processed Food and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global food authenticity industry generated $5.3 billion in 2017, and is estimated to reach $10.0 billion by 2030, witnessing a CAGR of 6.9% from 2021 to 2030.

Drivers, restraints, and opportunities

Emergence of advanced techniques to bring ease in food authentication, implementation of stringent regulations relating to food fraud globally, and increase in awareness among consumers related to food authenticity and certification drive the growth of the global food authenticity market. However, lack of food control infrastructure in the developing countries and complexity in testing techniques restrain the market growth. On the other hand, rapid growth in international trade and technological advancements such as development of test kits for onsite testing create new opportunities in the coming years.

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Covid-19 Scenario

• Owing to lockdown restrictions implemented by governments during the pandemic, almost all food facilities, restaurants, and cafes were closed down. This hindered operations of food authenticity authorities.
• Some of the testing laboratories were closed down partially or completely due to the pandemic with the constraints to follow social distancing and reduced availability of material and staff.

The adulteration tests segment to continue its leadership status throughout the forecast period

Based on target testing, the adulteration tests segment held the highest share in 2020, contributed to more than two-fifths of the global food authenticity market, and is expected to continue its leadership status throughout the forecast period. This is attributed to increase in mixing original products with cheap ingredients such as fat and syrup, decline in concentration levels, and cutting of expensive food such as wines and oils, or improper information regarding variety. However, the meat speciation segment is expected to witness the highest CAGR of 7.8% from 2021 to 2030. This is due to its assistance in recognition of various animal species and execution for various reasons such as ethnic, economic, and safety.

The PCR (Polymerase Chain Reaction)-based segment to maintain its dominance during the forecast period

Based on technology, the PCR (Polymerase Chain Reaction)-based segment accounted for the highest share in 2020, contributed to more than one-third of the global food authenticity market, and is expected to maintain its dominance during the forecast period. Moreover, this segment is projected to portray the fastest CAGR of 8.2% from 2021 to 2030. This is due to effectiveness in identification of both intentional and accidental adulterations of food by biological contaminants and absence or presence of genetically modified materials in the sample of the product. The research also analyzes the segments including liquid chromatography- mass spectrometry, isotope method, immunoassay-based/Elisa (enzyme-linked immunosorbent assay) and others.

Europe, followed by North America, to maintain its lead position during the forecast period

Based on region, Europe, followed by North America, contributed to the highest market share in 2020, accounting for more than two-fifths of the global food authenticity market, and is expected to maintain its lead position during the forecast period. This is due to surge in food fraud or adulteration activities and sophistication of fraudulent activities along with development of considerable array of methods and techniques to overcome food fraud and enhance consumer protection. However, Asia-Pacific is expected to portray the largest CAGR of 8.9% from 2021 to 2030. This is attributed to several issues related with food e-commerce, particularly in between businesses and consumers, and highly exposed fraud cases in the region.

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Leading Market Players

• 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
• Genetic ID NA, Inc.

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