Food Authenticity Market Size & Forecast Report, 2014 - 2025

Report ID: MN17615297  |  Published: December 2017  |  Format: Electronic (PDF)  |  Industry: Food & Beverage

Food authenticity is a commercial term against food fraud. Food fraud takes place when food is knowingly placed on the market for financial gain with the purpose to hoax consumers. There are many types of possible food fraud. The food and standard agency (FSA) defines food fraud in two types; the sale of food is utterly harmful and unfit to consume and the other is a wilful improper description of food. Therefore, a legit framework exists in enhancing the sharing and analysis to eliminate or minimize the fraud and informing the industry’s activity to assure an enhanced supply chain for food. Based on target testing, the global food authenticity market is segmented into meat speciation, country of origin & aging, adulteration & false labeling.

Food and drink producers depend on supply chains to help consumers affirm choice, consistency, and quality of products, affordability, and continuity of supply. A supply chain despite its complexity need to be managed adequately on risks. One of the major risks for the supply chain to sustain is population increase and rising demand from limited resources and constantly changing diets. Thus, commercial food companies also need to remain alert to the potential for food fraud and work supportively with customers and suppliers to minimize the risks of food fraud.

Developing countries are much vulnerable to food frauds owing to constantly changing dynamics in the public and private sector, thus authenticity is a vital component of food in terms of quality components. Authenticity enables certainty and certification for every individual product so that it possesses a set of legal features to prevent every type of deception in the market. Owing to the diversity of authentication criteria and a high number of products, food authentication includes a series of methods and techniques of a general or specific investigation.

Commercially, food safety or food authentication can only be reached by the growth of quality and food services under surveillance via the entire food chain which forms an indispensable instrument to achieve food traceability. Overall, with the rise in food frauds and food deception in the market on a global scale, the global food authentication market is anticipated to grow at a higher CAGR during the forecast period.

The key driving factors responsible for the growth of the food authenticity market include growth in economically motivated adulterations owing to high competition and a rise in incidences of food frauds. In a highly competitive, food frauds due to economically motivated adulterations are increasing.

Based on technology, the global food authenticity market is segmented into PCR-based, LC-MS/MS, isotopes. The PCR-based segment is anticipated to grow at a higher CAGR during the forecast period owing to reliability and wide use. Based on food testing, the global food authenticity market is segmented into meat speciation, dairy, and processed foods.

Based on geographic segmentation, the global food authenticity market spans North America, Europe, Asia-Pacific Middle-East, and Africa. APAC market is projected to be the fastest-growing market owing to growth in food safety among consumers. The market is growing at a higher CAGR owing to the rise in stringent food regulations across regions. North America dominates the global market due to stringent food regulations existing across US countries.

The key players in the global food authenticity market include SGS SA, Intertek Group Plc, Eurofins Scientific, ALS Limited, LGC Science Group Ltd, Merieux Nutrisciences Corporation, Microbac Corporation Inc, EMSL Analytical Inc, Romer Labs Diagnostics GmbH, Genetic ID, Inc.

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