DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Food Authenticity Market by Target Testing (Meat Speciation, Country of Origin & Ageing, Adulteration & False Labeling), Technology (PCR-Based, LC-MS/MS, Isotope), Food Tested (Meat, Dairy, Processed Foods), and Region - Global Forecast to 2022" report to their offering.
The food authenticity market is projected to reach USD 7.50 billion by 2022, at a CAGR of 7.6% from 2016 to 2022
Stringent regulations in various countries to ensure food authenticity, increased food frauds in terms of false labeling & certification, increased instances of adulterations are some major factors that are driving the food authenticity market. Lack of food control infrastructure & resources in developing countries, complexity of testing techniques, and lack of harmonization of regulations are the factors restraining the market growth.
The meat speciation segment is projected to grow at the highest CAGR during the forecast period, due to the increase in number of frauds in meat products and adulterations. Since the price of meat products is high, it is an attractive product for adulteration with cheaper meat to make profits. Therefore, meat adulteration is a common problem in many countries due to which detection of meat speciation has become crucial. This is followed by other adulteration tests segment, which is projected to remain the largest market through 2022.
The PCR-based technology is found to be the most common, reliable, and widely used technology to ensure authenticity of food products. It is projected to grow at the highest CAGR from 2016 to 2022.
- Implementation of Stringent Regulations in Developed Countries
- Increasing Incidences of False Labeling & Certification
- Increased EMA (Economically Motivated Adulterations) Due to High Competition
- Increase in Incidence of Food Frauds
- Growing International Trade
- Growing Awareness Among Consumers About Food Authenticity and Regulations
- Lack of Food Control Infrastructure & Resources in Developing Countries
- Complexity in Testing Techniques
- Lack of Harmonization of Regulations
- Emerging Markets in Asian, African, and Other Countries
- Technological Advancements in the Industry & Test Kits for Onsite Testing
- Unaffordability of Tests By Manufacturers
- Inappropriate Sample Collection & Standardization
The key players in the food authenticity market include:
- SGS SA (Switzerland)
- Intertek Group plc (U.K.)
- Eurofins Scientific (Luxembourg)
- ALS Limited (Australia)
- LGC Science Group Ltd (U.K.)
Other players that also have a strong presence in this market are as follows:
- Merieux Nutrisciences Corporation (U.S.)
- Microbac Laboratories Inc. (U.S.)
- EMSL Analytical Inc. (U.S.)
- Romer Labs Diagnostic GmbH (Austria)
- Genetic ID NA, Inc. (U.S.).
For more information about this report visit http://www.researchandmarkets.com/research/m2rmwl/food_authenticity