Food Authenticity Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Food Authenticity Market: Overview
Food authenticity can be tested for a variety of food products such as fruit juices, edible oils, beer, and wine with a view to lab check their genuineness. All food and beverage products are precisely and thoroughly tested for their purity with the employment of advanced instrumentation in food authenticity testing. Besides determining the purity of a food product, food authenticity testing is required for ensuring whether the contents match with the label claims.
Global Food Authenticity Market: Key Trends
The international food authenticity market is anticipated to gain an impressive impetus with the rising awareness about food regulations and authenticity among consumers. Apart from this significant growth factor of the international food authenticity market, the telling rise in food authenticity concerns on the part of consumers is expected to continue taking precedence from the previous few decades. The implementation of food safety and quality via different mediums such as nutrition facts, claims, and labeling is anticipated to be heavily influenced by consumer awareness in the international food authenticity market.
Lack of conformity among regulations, convolution of testing techniques, and dearth of food control resources and infrastructure in less developed nations are predicted to cripple the rise of the international food authenticity market. Howbeit, leading companies at the forefront of technological advancement could look to repair the downfall of the international food authenticity market with the launch of their various innovations.
The AgriTech laboratory of Intertek opened doors in May 2016 to conduct DNA-based testing of a diverse range of agricultural products. A couple of months later, the company launched another technology built on NMR (nuclear magnetic resonance) spectroscopy for performing honey authenticity testing. Such innovations are evident of the comeback of the international food authenticity market.
Global Food Authenticity Market: Market Potential
By 2020, the restaurant business in India is prognosticated to testify some revealing changes, said the food and beverage manager of Hotel Marine Plaza. International ambiences, live kitchens, different service styles, and innovative ideas are some of the crucial factors that could upgrade the Indian restaurant industry. Interactive kitchens, in particular, are envisioned to play a vital role in attaining the legacy and authenticity of Indian as well as international foods. Customized menus and grandmother’s recipes are other trends that could make a mark in the India food authenticity market.
Global Food Authenticity Market: Regional Outlook
The conducive efforts taken by the European academy of allergy and clinical immunology (EAAACI), EU reference laboratories (EURLs), and national reference laboratories (NRLs) are prophesied to help Europe have a whip hand over the worldwide food authenticity market. Food authenticity policies being comprehensively fortified by such institutions are envisaged to prove the dominance of the Europe food authenticity market. Other factors that could optimistically impact Europe in the worldwide food authenticity market are labeling compliance, substantial count of consumer complaints, and enforcement of food authenticity norms.
With the need for food authenticity confirmation and towering labeling requirements on account of mushrooming international food trading, North American countries such as the U.S. are foreseen to be in the limelight of the global food authenticity market. Asia Pacific could be a faster growing region in the global food authenticity market.
Global Food Authenticity Market: Competitive Landscape
LGC Science Group Ltd., ALS Limited, Eurofins Scientific, Intertek Group plc, and SGS SA are some of the ruling players in the global food authenticity market. A novel DNA chip technology was set in motion by Eurofins Scientific in June 2015 which has the capability of concurrently identifying and detecting 21 animal species in food and feed offerings.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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