Dublin, Sept. 05, 2024 (GLOBE NEWSWIRE) -- The "Food Authenticity Market Report by Target Testing, Technology, Food Tested, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The food authenticity market is experiencing a significant growth trajectory, influenced by the increased consumer awareness and a rising incidence of food fraud. The market size, which stood at US$ 7.8 Billion in 2023, is forecasted to expand to US$ 13.4 Billion by 2032 with a 6.2% CAGR during the 2023-2032 period. This expansion reflects the industry's responsiveness to consumer demands for verification of food claims and accurate labeling.
Technology plays a pivotal role in propelling the food authenticity market forward. Advanced techniques such as PCR (Polymerase Chain Reaction) have revolutionized the detection of adulteration and mislabeling, particularly in meat products. Innovations like remote testing kits and analytical testing software further promote transparency and reliability in food testing, supporting the integrity of the global food supply chain.
Adherence to Regulations and Quality Standards
Food authenticity testing not only serves to validate product claims but also aids in complying with stringent government regulations. With the food and beverage industry achieving significant milestones globally, upholding regulatory standards is essential for maintaining consumer trust and ensuring market stability.
Market Segmentation Insights
The market report provides a comprehensive analysis across several segments, including target testing, technology, and food tested. The study brings to light distinct industry trends and forecasts at global, regional, and country levels, presenting a nuanced understanding of the food authenticity landscape.
Dynamics of Regional Markets
The regional segmentation of the market reveals diverse patterns of growth influenced by regional regulations, consumer preferences, and technological availability. North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa are regions under scrutiny, each contributing to the global market dynamics in unique ways.
Competitive Environment and Industry Players
A detailed examination of the market's competitive landscape identifies key industry participants, their strategic initiatives, and their roles within the food authenticity sector. The collaboration and competition among these stakeholders underscore the continued evolution and innovation in the field.
Strategic Insights for Market Players
To sustain and enhance market presence, stakeholders are encouraged to consider the varied factors driving growth and the challenges presented. The insights rendered in the market report serve as a strategic roadmap for current and prospective industry participants, looking to navigate the complexities of the food authenticity domain.
In conclusion, the food authenticity market is on a robust growth path characterized by technological advancements, regulatory compliance, consumer awareness, and a focus on transparency. The industry's progress is continually shaped by its commitment to safeguarding the veracity of global food products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $7.8 Billion |
| Forecasted Market Value (USD) by 2032 | $13.4 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Companies Featured
- ALS Limited
- EMSL Analytical Inc.
- Eurofins Scientific Inc.
- Intertek Group plc
- LGC Limited
- Mérieux NutriSciences
- Microbac Laboratories Inc.
- Romer Labs Division Holding GmbH (Koninklijke DSM N.V.)
- SGS SA
For more information about this report visit https://www.researchandmarkets.com/r/1ojbax
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