Food Certification Market Size to Grow USD 2243.8 million by 2027 at a CAGR of 4.2% | Valuates Reports

BANGALORE, India, Oct. 25, 2022 /PRNewswire/ -- The Global Food Certification market is Segmented by Type (Green Food, Organic Food), Application (Read-to-Eat Food, Rough Machining Foo, Deep Processing Food) Global Opportunity Analysis, and Industry Forecast, 2021-2027.  It is published in Valuates Reports under the  Agriculture & Forestry Category.

The global Food Certification market size is projected to reach USD 2243.8 million by 2027, from USD 1672 million in 2020, at a CAGR of 4.2% during 2021-2027.

Major factors driving the growth of the Food Certification Market

The implementation of food safety standards is becoming more necessary in order to limit the number of illnesses and fatalities brought on by foodborne pathogens, and this is driving the expansion of the food certification market. Key industry players are motivated to create innovative and efficient food certification standards as a result of the government's strict restrictions for food certifications.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL FOOD CERTIFICATION MARKET

In the upcoming years, regulatory interventions are expected to have an impact on the food certification sector. The Food Certification market is expected to rise as a result of tighter government restrictions, complex industry standards, and certification requirements. Companies are expected to spend on certification compliance as a result of the enforcement of harsher fines against non-compliant parties. These elements are anticipated to have a favorable effect on the market expansion.

Rising levels of disposable income in urban areas. Families in metropolitan areas are therefore more likely to use prepared foods that are sold in convenience stores, supermarkets, and hypermarkets. Food safety is becoming a problem that has to be highlighted more. Everyone can avoid any inconveniences by having a greater understanding of the principles governing food safety and making educated decisions. This factor is expected to further propel the growth of the Food Certification market. 

Food sector businesses can effectively meet the standards of a nationally or internationally recognized best practice approach by obtaining food safety certification, which demonstrates to customers and the marketplace, as well as to staff and other stakeholders, that they have done so. Any business can benefit greatly from certification from an unbiased third party because it represents ethical behavior and corporate responsibility.

Consumers are calling for higher food safety standards across the whole global supply chain due to increased knowledge brought on by recent high-profile food recalls. Businesses that achieve certification under a specific food safety program will have a competitive advantage in the Food Certification market.

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FOOD CERTIFICATION MARKET  SHARE

Based on type, Green Food is expected to be the most lucrative segment. By guaranteeing that

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Plant-based goods are entirely vegan, the certification helps to slow down resource depletion and cut greenhouse gas emissions.

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Europe is the largest market, with a share of over 35%, followed by China, and North America, both have a share of over 40 percent.

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Key Players:

• SGS
• Intertek
• BV
• ALS
• NSF
• JFRL
• TUV
• Lloyd's Register
• COFFCC.

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