According to Reports and Data the global Food Authenticity Testing Market was valued at USD 6,268.8 Million in 2020 and expected to reach USD 11.09 Billion by the year 2028, at a CAGR of 7.8%. Adoption of stringent guidelines identifying with food fraud all around, rise in Economically Motivated Adulterations (EMA) has created a major challenge among nourishment makers, and increase in samples of nourishment degradation, for instance, certification, adulterations, and false labeling.
The global food and beverage industry is primarily driven by consumer shift towards healthy foods, population expansion, improved cold chain logistics, adoption of automation systems products. The rising food fraud is a major driving factor for the food authenticity testing market. The risk and potential scale have progressed in recent years with the complexity of high-value ingredients, modern supply chains, and the proliferation of premium-labeled variants of food and drink types. A recent analysis determined that food fraud accounted for 5 to 25% of all reported food safety incidents across the globe.
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Key Players:
GS 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, and Genetic ID NA, Inc. are major players in food authenticity testing market.
Further key findings from the Food Authenticity Testing report suggest:
- The polymerase chain reaction (PCR) segment in food authenticity testing market is projected to register the notable growth rate, in terms of revenue, registering a CAGR of 8.4% during the forecast period.
- North America is projected to account for the notablemarket share and is probably going to drive growth over the forecast period as this region. This is often primarily attributed to government strict food safety regulations and huge number of consumer complaints for food products in countries during this Asia Pacific market in expected to register fastest growth within the near future with a CAGR of 8.5%. The increasing food safety concerns among the consumers and also the growing marketplace for processed food are factor expected to drive growth of the food authenticity testing market in Asia Pacific region.
- A consortium jointly led by Astorg acquired LGC (U.K.), a global leader in the Life Sciences Tools sector in the year 2020. LGC provides a comprehensive range of measurement tools, proficiency testing schemes, supply chain assurance standards and specialty genomics reagents underpinned by leading analytical and measurement science capabilities. Its scientific tools and solutions form an essential part of its customers’ quality assurance procedures and enable organisations to develop and commercialize new scientific products and advance research. The company serves customers across a number of end markets, including human healthcare, agri-food and the environment.
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Segments covered in the report:
Based on target testing the food authenticity testing market has been segmented as follows: (Revenue, USD Billion; 2020-2028)
- Meat speciation
- Country of origin and aging
- Adulteration tests
- False labeling
Based on technology the food authenticity testing market has been segmented as follows: (Revenue, USD Billion; 2020-2028)
- PCR-based
- LC-MS/MS
- Isotope methods
- Immunoassay-based
- Others
Based on food tested the food authenticity testing market has been segmented as follows: (Revenue, USD Billion; 2020-2028)
- Meat meat products
- Dairy dairy products
- Processed foods
- Ingredients
- Cereals, grains, and pulses
Regional Outlook (Volume Metric Tons, Revenue, USD Million; 2020-2028) (Revenue, USD Billion; 2020-2028)
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East Africa
- Latin America
- Brazil
- Rest of Latin America
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Objective of Studies:
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by application, product type and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Food Authenticity Testing market.
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