The market across Europe is expected to dominate the market in terms of revenue throughout the forecast period. However, the market across Asia-Pacific would manifest the highest CAGR of 8.9% during the forecast period.
As per the report published by Allied Market Research, the global food authenticity market is projected to reach $10.0 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030. The report highlights the market potential, growth by segmentation, market characteristics, and competitive landscape.
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Shankar Bhandalkar, Team Lead-Research, Food & Beverages at Allied Market Research, stated, “Growth of more advanced techniques to bring ease in food authentication and rapid growth in international trade along with awareness among consumers regarding food authenticity and certification have boosted the growth of the global food authenticity market. However, lack of food control infrastructure in developing economies, dearth of harmonization of regulations, and complexity in testing techniques hamper the market growth. On the contrary, technological developments including test kits for on-site testing and potential in Asia-Pacific and South Africa would open lucrative opportunities in the future.”
The report offers a comprehensive study of the impact of the Covid-19 pandemic on the market. The food authenticity market was negatively affected by the pandemic due to strict government restriction regarding social distancing, which created challenges to check the food authenticity more efficiently.
The global food authenticity market is analyzed across several regions such as Europe, North America, Asia-Pacific, and LAMEA. The market across Europe is expected to dominate the market in terms of revenue throughout the forecast period. However, the market across Asia-Pacific would manifest the highest CAGR of 8.9% during the forecast period. https://www.linkedin.com/feed/update/urn:li:activity:6973883458804695040
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The global food authenticity market is divided based on target testing, technology, and food tested.
Based on target testing, the adulteration tests segment would hold the lion’s share from 2021 to 2017, and held more than two-fifths of the total market share in 2017. However, the meat speciation segment is estimated to register the highest CAGR of 7.8% during the forecast period.
On the basis of technology, the PCR (polymerase chain reaction)-based segment would portray the highest CAGR of 8.2% during the forecast period. However, the segment is expected to continue its dominance in terms of share from 2021 to 2030.
Based on food tested, the processed food segment dominated the market in 2017, accounted for more than one-third of the market. However, the meat & meat products segment is projected to showcase the highest CAGR of 7.2% during the forecast period.
The global food authenticity market report includes an in-depth analysis of the major market players such as SGS S.A., Intertek Group Plc., ALS Limited, Eurofins Scientific SE, Mérieux Nutrisciences Corporation, LGC Science Group Ltd., EMSL Analytical Inc., Microbac Laboratories, Inc., Genetic ID NA, Inc., and Romer Labs Diagnostic GmbH.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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