What is Food Authenticity Market Scope?
Nowadays, food fraud is the biggest challenge facing food businesses. But product authentication could provide the solution to an industry grappling with the challenge of diminishing consumer trust and brands tarnished by food scares. 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 utilized to prove the content of food products are authentic and the way they are presented is correct and accurate. Increasing incidences of false labeling & certification and exponential growth in international trades are the key drivers fuelling the demand for food authenticity testing.
The Food Authenticity market study is being classified and major geographies with country level break-up.
Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Food Authenticity market throughout the predicted period.
SGS S.A. (Switzerland), Intertek Group PLC (United Kingdom), Eurofins Scientific SE (Luxembourg), ALS Limited (Australia), LGC Science Group Ltd. (United Kingdom), Mérieux Nutrisciences Corporation (United States), Microbac Laboratories, Inc. (United States), EMSL Analytical Inc. (United States), Romer Labs Diagnostic GmbH (United States) and Genetic Id Na, Inc. (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Food Authenticity market by Type, Application and Region.
On the basis of geography, the market of Food Authenticity has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
On 1st Aug 2018, Eurofins Scientific, a global scientific leader in bioanalytical testing, announced the successful closing of the transaction to acquire Covance Food Solutions from LabCorp, a leading global life sciences company. Covance Food Solutions provides product integrity, food safety, product development, and consulting solutions for end-use segments that span the life cycle of food, beverage, and dietary supplement products.
Influencing Market Trend
- Increased Application of Modern Techniques
Market Drivers
- Implementation of Stringent Regulations in Developed Countries
- Exponential Growth in International Trade
- Increasing Incidences of False Labeling & Certification
- Increased EMA (Economically Motivated Adulterations) Due to High Competition
Opportunities
- Technological Advancements in the Industry & Test Kits for Onsite Testing
Restraints
- Lack of Food Control Infrastructure & Resources in Developing Countries
- Complexity in Testing Techniques
Challenges
- Unaffordability of Tests by Manufacturers
Key Target Audience
Food Authenticity Companies, Food Manufacturers/Traders/Distributors, Research Labs, Regulatory & Government Bodies, End Users and Others
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