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Global & U.S. Food Authenticity Testing Market Report 2021: Market was Valued at $ 6,215 Million in 2020 and is Estimated to Grow at a CAGR of 8.50% from 2021 to 2028: Vantage Market Research

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WASHINGTON, Dec. 03, 2021 (GLOBE NEWSWIRE) -- The "Food Authenticity Testing Market Research Report By Testing Type (Meat speciation, Country of Origin & Aging, Adulteration Tests, and False Labelling), By Technology (PCR-Based, LC-MS/MS, Isotope Methods, Immunoassay-Based, and Others), By Food Tested (Meat & Poultry Products, Dairy & Dairy Products, Processed Foods Ingredients, and Cereals, Grains, & Pulses and by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).” report has been added to VantageMarketResearch.com's offering.

The global Food Authenticity Testing market was valued at USD 6,215 Million in 2020 and is projected to reach USD 9,956 Million by 2028, growing at a CAGR of 8.50% from 2021 to 2028.

The increasing demand for accurate labelling and maintaining food quality in food industry is driving the food authenticity testing market. Implying stringent regulation by government bodies to avoid adulteration in food industry is the crucial factor fuelling the growth of food authenticity testing market.

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Our free sample reports Includes:

  • In-depth Industry Analysis, Introduction, Overview, and COVID-19 Pandemic Outbreak.

  • Impact Analysis 175+ Pages Research Report (Including latest research)

  • Provide chapter-wise guidance on request 2020 Updated Regional Analysis with Graphical Representation of Trends, Size, & Share, Includes Updated List of figures and tables.

  • Updated Report Includes Major Market Players with their Sales Volume, Business Strategy and Revenue Analysis by using VMR research methodology.

The COVID-19 outbreak has affected various industries worldwide. The pandemic has affected most countries in the world, with severe impacts on the global economy and the food production and distribution sector. The food authenticity testing market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data-points:

  1. Impact Assessment of COVID-19 Pandemic

    1. North America

    2. Europe

    3. Asia Pacific

    4. Latin America

    5. Middle East & Africa

  2. Quarterly Market Revenue Forecast by Region 2020 & 2021

  3. Key Strategies Undertaken by Companies to Tackle COVID-19

  4. Long Term Dynamics

  5. Short Term Dynamics

Market Overview:

Extensive Legislation, Ultimate Priority for Food Manufacturers and Regulators is to Maintain High Levels of Food Safety Standards, which is boosting the demand for Food Authenticity Testing Market

Food authenticity and food adulteration has been a subject of concern with consumers and producers. Problems with dilution, false labelling, and partial or complete substitution of expensive ingredients are not infrequent practices and can inflict substantial damage on the companies involved. Governed by extensive legislation, the ultimate priority for food producers and regulators is to maintain high levels of food safety standards. Effective and accurate screening for impurities and any possible illegal practices of adulteration is vital in both safeguarding public health and adhering to regulatory requirements which in turn are increasing the demand for food authenticity market globally.

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Rising Government Norms and Stringent Regulations Towards Food Safety to Drive the food Authenticity Testing Market

Government organisations such as Food & Drug Administration (FDA) are concerned towards the rising cases of adulteration activities and mislabelling in food industry. The purpose of authenticity testing is to assure the true state of food. According to the International Food Authenticity Assurance Organisation (FAAO), food authenticity is the process of irrefutably proving that a food or food ingredient is in its original, genuine, verifiable and intended form as declared and represented. Authenticity testing is implied to prove the genuine content of food products and the way it is preserved. In recent years, due to increasing numbers of food fraud incidents reported worldwide. The number of reports made to the UK National Food Crime Unit has increased from 796 cases in 2015 to 1193 in 2019, with 364 notices in the first three months of 2019. This is some of the important points undertaken by government organisation to find the authenticity of food products. These are some of the factor driving the authenticity testing market.

Advantages of this Research:

  • Evaluate market share for commercial Food Authenticity Testing market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.

  • Develop tactics and strategies to take advantage of opportunities in the Food Authenticity Testing market.

  • Latest Trends and Market Events and analyze essential events in Food Authenticity Testing market.

  • Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.

  • Answer vital business questions; supports decision making in R&D to long term marketing strategies.

  • Develop economic models, forecast models, and healthcare frameworks.

The report on Food Authenticity Testing Market highlights:

  • Assessment of the market

  • Premium Insights

  • Competitive Landscape

  • COVID Impact Analysis

  • Value Chain Analysis

  • Historic Data, Estimates and Forecast

  • Company Profiles

  • Porter’s Five Forces Analysis

  • Global and Regional Dynamics

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Regional Analysis:

Increasing Growth of Food Authenticity Testing Market in Asia Pacific

The emerging economies of Asia Pacific such as India, China, Indonesia, and Thailand among others are expected to fuel the growth of the food authenticity testing market. Increasing activities related to food fraud, food adulteration, and maintaining low food quality is driving the demand for food authenticity testing market. Countries such as China and India are imposing stringent regulations to control food quality special in rural areas, this decision taken by government authorities will drive the requirement for food authenticity and testing equipment to flourish and hence increase the demand food authenticity testing market. Middle East and Africa, Europe and North America will also show rapid development on the food authenticity testing market especially in the meat and meat products segments as majority of population is dependent on meat and meat products.

List of Prominent Players in the Food Authenticity Testing Market:

Sr. No.

Companies

HEADQUARTERS

1.

SGS S.A.

Geneva, Switzerland

2.

Intertek Group PLC

London, United Kingdom

3.

Eurofins Scientific SE

Luxembourg

4.

ALS Limited

Brisbane, Australia

5.

LGC Science Group Ltd.

Teddington, United Kingdom

6.

Mérieux Nutrisciences Corporation

Illinois, United States

7.

Microbac Laboratories, Inc.

Pennsylvania, United States

8.

EMSL Analytical Inc.

New Jersey, United States

9.

Romer Labs Diagnostic GmbH

Getzersdorf, Austria

10.

Genetic ID NA, Inc.

Fairfield, United States

Recent Developments in the Industry:

In August, 2020, BIA Analytical has raised USD 7 Million to fight aging the food fraud and adulteration activities taking place in the U.K. As well as the company is offering a laboratory testing service for food authenticity and safety provided by Cibus Analytical which will extend its product offering to include highly innovative portable testing tools to allow customers to rapidly test for food authenticity and safety at the point of sampling across global supply chains.

In June 2021, SGS Announces the Official Opening of Its New Food Testing Laboratory in Papua New Guinea. The company is ready to build NATA ISO17025 Accredited Laboratory in Port Moresby; Papua New Guinea is the latest addition to the SGS group. The new facility offers internationally recognized quality testing to the food manufacturing, hospitality and retail market segments.

Important questions answered in this report:

  • What is the estimated market size and growth rate of the Food Authenticity Testing Market?

  • Which segments are included in the Food Authenticity Testing Market?

  • Which top companies are active in the Food Authenticity Testing Market?

  • What are the major driving factors for the growth of the Food Authenticity Testing Market?

  • How can I get free sample reports or study of Food Authenticity Testing Market?

This market titled “Food Authenticity Testing Market will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:

Report Attribute

Details

Forecast Period 2021 to 2028 CAGR

8.50%

Market Size in 2028

USD 9,956 Million

Base Year

2020

Historic Years

2016 – 2019

Forecast Years

2021 – 2028

Segments Covered

Quantitative Data - Units

Revenue in USD Million/Million

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

TABLE OF CONTENTS:

  1. Chapter No. 1: Introduction

    1. Report Scope

    2. Objectives of the Study

    3. USP & Key Offerings

    4. Target Audience

    5. Vantage Market Research Report Guidance/Walk-through

  2. Chapter No. 2: Premium Insights

    1. Market Snapshot

    2. Top Investment Pockets

      1. Market Attractiveness Analysis, By

      2. Market Attractiveness Analysis, By

      3. Market Attractiveness Analysis, By Asia Pacific

    3. Insights from Primary Respondents

  3. Chapter No. 3: Key Market Dynamics

    1. Introduction

    2. Market Drivers

    3. Market Restraints

    4. Market Opportunities

    5. Porter’s Five Forces Analysis

    6. PEST Analysis

    7. Regulatory Landscape

    8. Technology Landscape

    9. Regional Market Trends

    10. Pricing Analysis

    11. Patent Analysis

    12. Value Chain Analysis

    13. Downstream Buyers

    14. Distributors/Traders List

  4. Chapter No. 4: Competitive Landscape

    1. Competition Matrix – 2020

    2. Company Market Share Analysis – 2020

      1. Company Market Share, 2020

      2. Company Market Revenue, 2017 – 2020 (USD Million)

      3. Company Y-o-Y Growth, 2018 – 2020 (%)

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