IMARC Group, a leading market research company, has recently released a report titled “Food Authenticity Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global food authenticity market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the food authenticity market?
The global food authenticity market size reached US$ 7.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.7% during 2023-2028.
What is food authenticity?
Food authenticity is a laboratory-oriented test that helps examine the quality of the products by ensuring the authenticity of their contents in correspondence to the original condition and the information on the label. Authentic products are free from adulteration, especially regarding nature, composition, varietal purity, and manufacturing process. The process also helps detect deception and food fraud attempts. Deoxyribonucleic acid (DNA) testing, polymerase chain reaction (PCR), chromatography, microscopy, immunoassay, and food allergen analysis are commonly used detection techniques. As a result, food authenticity is mainly used for confectionaries, cereals, grains, packaged foods, meat-based and dairy-based products, pulses, edible oils, alcohol, juices, and processed foods.
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Current Trends & Future Predictions:
The global food authenticity market is primarily driven by the increasing prevalence of food fraud involving mislabeling, cases of dilution, certification, and substitution. In line with this, the rising awareness among consumers regarding food authenticity and certification is acting as another growth-inducing factor. Moreover, governments of various nations are implementing stringent regulations regarding food fraud, which is providing a significant boost to market growth. Besides this, key players are actively working to develop remote testing kits and analytical testing software for convenient food detection, which is creating a positive outlook for the market.
Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global food authenticity market has been studied in the report with the detailed profiles of the key players operating in the market.
Competitive Landscape with Key Players:
ALS LimitedEMSL Analytical Inc.Eurofins Scientific Inc.Intertek Group plcLGC LimitedMérieux NutriSciencesMicrobac Laboratories Inc.Romer Labs Division Holding GmbH (Koninklijke DSM N.V.)SGS SAMarket Segmentation:
Based on Target Testing:
Meat SpeciationCountry of Origin and AgingAdulteration TestFalse LabellingBased on Technology:
Polymerase Chain Reaction BasedLiquid Chromatography-Mass SpectrometryIsotope MethodImmunoassay Based/ELISAOthersBased on Food Tested:
Meat and Meat ProductDairy and Dairy ProductCereal, Grain, and PulseProcessed FoodOthersGeographical Analysis:
North AmericaAsia PacificEuropeLatin AmericaMiddle East and AfricaExplore Full Report Description At: https://www.imarcgroup.com/food-authenticity-market
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