Food Authenticity Market

Food Authenticity Market Size, Growth, Forecast (2023-2028)

Food Authenticity Market was worth $6.5 billion in 2023 and is expected to grow to $9.82 billion by 2028, with a CAGR of 7.2% from 2023-2028.

In the process of food authentication, it is verified that the food or food ingredient in question is in its original form, guaranteed to be genuine and fully verifiable. Various authentic tests are performed to know the quality of the product or if there has been any fraud. Food fraud has been known to be committed by the food industry by misrepresenting the quality of food, mainly to gain economic gains for the company. As a result, these representatives add unhealthy substances to the food that the customers eat which are unhealthy and can cause them harm. It is the responsibility of the food safety officer to take a sample of the food so that it may be analyzed. The sample is taken in a closed container so that there will be no moisture or leakage. After the container has been labeled, it is then dispatched to the authorized laboratories for testing, where it will be analyzed. Several analytical techniques are commonly used in food authenticity testing, such as spectroscopy, mass spectrometry, stable isotope mass spectrometry, DNA analysis, nuclear magnetic resonance spectrometry, and others.

Food Authenticity Market Key Developments

• In January 2022, Eurofins Scientific announced the development of SNIF-NMR, a DNA-based analytical technology for food testing, to improve the safety and integrity of its clients' food products.

• In May 2021, Eurofins Scientific announced the acquisition of Alliance Technical Laboratories (ATL) Ltd to expand its food, water, and feed testing capabilities.

• In May 2021, Mérieux NutriSciences announced the acquisition of UCGS, which expands the company's footprint in China in food and testing and adds a presence in Northwest China to its five authorized labs.

• In May 2017, ALS announced the acquisition of Marshfield Food Safety to expand its presence in the food testing market in the United States. Clients of the Food Market will benefit from their testing, inspection, auditing, and consulting services.

REPORT COVERAGE:

Food Authenticity Market Drivers

According to these key factors, food authentication is expected to gain a significant share of the market in the years to come. With the rise of food authenticity, consumers are getting exactly what they pay for.

In addition, younger generations are becoming aware of the health benefits that they can receive from food authenticity. The importance of high-quality food free from harmful chemicals has become increasingly relevant in today's fast-paced life.Furthermore, the increase in the number of fraud cases to gain an advantage over the market has also been a major factor encouraging the market's growth.   this matter, supermarkets and food product manufacturers are mainly focusing on quality due to government regulations and pressure through nutritional facts about products and labels on them. To combat this issue, the supermarkets and the manufacturers of food products are primarily concentrating on quality due to regulations created by the government and pressure as a result of nutrition facts being displayed on products and their labels.

Food Authenticity Market Restraints

A small manufacturer is unable to survive on the extra costs associated with food authentication tests due to the cost of their production. Some tests are not very accurate on every food product, and this causes the manufacturer to choose not to undergo this process for that particular product. As a result of these factors, the market's growth is being restricted.

Food Authenticity Market Segmentation:

Food Authenticity Market - By Technology

• PCR-Based

• Liquid Chromatography 

• Isotope

• Immunoassay Based/ELISA

• Others

PCR-based is leading the segment in 2021 and is also expected to grow during the forecasted period. There is a method called PCR, which is used for making multiple copies of a given piece of DNA at a time. In comparison with other methods, the advantage of the PCR test over those is that it has the advantage of being faster, both in terms of the time it takes from the time of sampling to the result and in terms of the time required for the technician to set up and run the test. Additionally, they are very adaptable, allowing them to be used for the testing of multiple pathogens at the same time. As a result of these benefits, PCR-based is seeing significant growth in the technology segment.

By Food Tested

• Meat Products

• Dairy Products

• Processed Food

Processed food is the segment leader and is expected to hold the largest market share over the forecasted period. A large part of the segment's growth can be attributed to its various applications and the fact that it is in high demand in many countries. In the forecast period, there is expected to be a high CAGR in the meat and meat industries.

Food Authenticity Market - Target Testing

• Meat Speciation

• Adulteration

• False Labelling

This market is led by the Adulteration tests segment and is expected to grow rapidly as a result of an increase in food frauds in the future. This is because their advantages over others are that they are simple, quick, and reliable, which is why they are successful.

Food Authenticity Market Regional Analysis:

• Asia Pacific

• North America

• Europe

• Latin America

• Middle East & Africa

The Europe region is estimated to hold the highest position in the Food authenticity market and is expected to grow during the forecasted period. This is because the majority of the food fraud cases have been registered in European countries and they pertain to many products, such as fish, oil, meats, fruits and vegetables, and many others, which are mainly consumed in Europe.

Food Authenticity Market Key Players

1. Eurofins Scientific SE

2. Merieux Nutri Sciences Corporation

3. GENETIC ID NA, INC

4. Microbac Laboratories, Inc.

5. Emsl Analytical, Inc.

6. SGS SA

7. Intertek Group PLC

8. Romer Labs, Inc.

9. ALS Ltd.

10. LGC LIMITED