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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

Food Authenticity Market: Target until 2022

  • March 2017
  • 207 pages
  • ID: 4796892
In this report:
According to the findings from FoodDrinkEurope (FDE) and Food Allergy Research and Resource Program (FARRP), ##.##% of the respondents feel that proper labeling is the right approach implemented to minimize allergen cross contact and unintentional contamination, followed by appropriate segregation (##.##%), production scheduling (##.##%), ingredient verification (##.##%), and rework & WIP (##.##%).
According to The Federal Institute for Risk Assessment (BfR), in 2014, the European Union reported ##% cases false labeling & ##% cases of false certification among all food frauds.

Summary

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"Food authenticity market forecasted to grow at a CAGR (Compound annual growth rate) of 7.60 percent"

The food authenticity market is estimated to grow ~$7.5B by 2022, at a compound annual growth rate of 7.60 percent from 2016 to 2022. Stringent regulations in different countries to guarantee food authenticity, gained food frauds in terms of false labeling & certification, rised instances of adulterations are some main 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 increase.

"The meat speciation segment is planned to be the fastest-growing segment in the food authenticity market during the estimate period"

The meat speciation segment is expected to rise at the highest CAGR (Compound annual growth rate) during the outlook period, due to the growth 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. Accordingly, 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 forecasted to remain the biggest market through 2022.

"PCR based technology led the industry with the biggest market share in 2015"

The PCR-based technology is found to be the most common, reliable, and widely used technology to assure authenticity of food products. It is expected to grow at the highest compound annual growth rate (CAGR) from 2016 to 2022. PCR is a molecular technique that uses DNA as the basis for study of meat and food products, providing precise results on testing. The technology amplifies fragments of DNA extracted from the food product samples in order to accurately identify the DNA of each species in the product, resulting in enabled cross-checking of the product's authenticity and confirmation of the claims that the product makes. These factors have been driving the sector for PCR-based tests in food authenticity.

"EU led the industry with the biggest share in 2015"

Europe (EU) was the most important food authenticity market in 2015. Governing organizations present in the market have enforced different food authenticity testing policies. The Asia Pacific (APAC) area is intended to be the quickest increasing sector through 2022 due to the growing food safety concerns among the consumers and the increasing market for processed food. France (FR) is forecasted to be quickest increasing country in the european area.

The breakdown of the primaries on the basis of company type, description, and area, conducted during the business research study, is like:

- By Company category: Tier 1 -40.0 percent, Tier 2 -50.0 percent, and Tier 3 -10.0 percent

- By Designation: C Level -40.0 percent, and Director Level -60.0 percent

- By area: North America -09.0 percent, Europe -70.0 percent, Asia-Pacific -18.0 percent, and RoW -03.0 percent

Segment Research

The market research highlights on food authenticity testing services across various industry verticals and localities. It aims at evaluating the market value and upcoming growth potential of this market across distinct segments-target testing, technology, food tested, and area. Moreover, the industry report also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, SWOT analyses, recent evolutions, and key industries strategies.

Why acquiring this study can help you:

The analysis would benefit the market top players/new sector entrants in this sector by providing them the closest approximations of the revenue numbers for the global food authenticity market and the sub-segments. This industry report will facilitate partners to better find out the competitive landscape and obtain additional insights to better option their businesses and make suitable go-to-market approaches. The market research also benefits the partners to comprehend the top trends of the market and offers them information on main market drivers, market restraints, opportunities, and alternatives.

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ref:plp2017

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