NEW YORK, March 27, 2017 /PRNewswire/ --
"Food authenticity market projected to grow at a CAGR of
7.6%"
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 be the fastest
growing segment in the food authenticity market during the forecast
period"
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.
"PCR based technology led the market with the largest share
in 2015"
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. PCR
is a molecular technique that uses DNA as the basis for analysis 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 market for
PCR-based tests in food authenticity.
"Europe led the market with
the largest share in 2015"
Europe was the largest food
authenticity market in 2015. Governing organizations present in the
market have enforced various food authenticity testing policies.
The Asia-Pacific region is
projected to be the fastest growing market through 2022 due to the
increasing food safety concerns among the consumers and the growing
market for processed food. France
is projected to be fastest growing country in the European
region.
The breakdown of the primaries on the basis of company type,
designation, and region, conducted during the research study, is as
follows:
- By Company type: Tier 1 -40%, Tier 2 -50%, and Tier 3 -10%
- By Designation: C Level -40%, and Director Level -60%
- By Region: North America -09%,
Europe -70%, Asia-Pacific -18%, and RoW -03%
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.)
The above-mentioned companies collectively accounted for the
largest portion of the food authenticity market in 2015. 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.).
Research Coverage:
The report focuses on food
authenticity testing services across different industry verticals
and regions. It aims at estimating the market size and future
growth potential of this market across different segments—target
testing, technology, food tested, and region. Furthermore, the
report also includes an in-depth competitive analysis of the key
players in the market along with their company profiles, SWOT
analyses, recent developments, and key market strategies.
Reasons to buy the report:
The report would help the market leaders/new entrants in this
market by providing them the closest approximations of the revenue
numbers for the overall food authenticity market and the
subsegments. This report will help stakeholders to better
understand the competitive landscape and gain more insights to
better position their businesses and make suitable go-to-market
strategies. The report also helps the stakeholders to understand
the key trends of the market and provides them information on key
market drivers, restraints, challenges, and opportunities.
Read the full report:
http://www.reportlinker.com/p04796892-summary/view-report.html
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