Food Authenticity Testing Market Industry Trends, Share, Size, Growth And Forecasts To 2033 | |
The Food Authenticity Testing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033). Learn More On The Food Authenticity Testing Market: https://www.thebusinessresearchcompany.com/report/food-authenticity-testing-global-market-report In accordance with The Business Research Company's seminal Food Authenticity Testing Global Market Report for 2024, the robust expansion of the food authenticity testing sector has been palpable in recent years. This upward trajectory is poised to persist, with the market anticipated to burgeon from $8.05 billion in 2024 to an estimated $8.66 billion, reflecting a noteworthy compound annual growth rate (CAGR) of 7.5%. The ascendancy in the historical period is underpinned by heightened food safety apprehensions, stringent regulatory frameworks, the globalization of food supply chains, a surge in incidents of food fraud, and the advent of rapid testing methodologies. Prognosticating the trajectory forward, the food authenticity testing market is primed for substantial expansion, slated to burgeon to a formidable $11.91 billion by 2028, exhibiting a CAGR of 8.3%. This foresight is predicated on an amalgam of factors, encompassing escalating demand for plant-based products, the advent of portable testing devices, a clamor for tailored testing solutions, a surge in food allergen concerns, and a strategic pivot towards non-destructive testing methodologies. Noteworthy trends in the impending period encompass progressive strides in analytical technologies, a pronounced embrace of DNA testing, authentication protocols for organic and specialty products, the integration of blockchain technology for enhanced traceability, and the assimilation of artificial intelligence (AI). The rising number of food frauds worldwide is driving the food authenticity testing market. Food fraud occurs when low-quality food is sold on purpose to the customer while claiming high quality. The urge to meet the rising consumer demand, growing financial pressures and less frequent monitoring have led to an increase in food fraud cases. Food authenticity testing is used in detecting food frauds. For instance, according to the OPSON X operation by Europol and Interpol, between December 2020 and June 2021, 15,451 tons of illegal goods totaling $55 million (€53.8) million were collected across 72 countries. The increase was 28% and 16%, respectively, as compared to the previous Europol operation, OPSON IX, which spanned the same time period from 2019 to 2020. Thus, the rising number of food frauds will propel growth of the the food authenticity testing market. Get A Free Sample Of The Report (Includes Graphs And Tables): https://www.thebusinessresearchcompany.com/sample.aspx?id=8881&type=smp The food authenticity testing market covered in this report is segmented – 1) By Type: PCR (Polymerase Chain Reaction)-Based, Isotope Methods, Immunoassay-Based/ELISA (Enzyme-Linked Immunosorbent Assay), DNA Sequencing/Barcoding, Next-Generation Sequencing, NMR Technique/Molecular Spectrometry, Mass Spectrometry 2) By Target Testing: Meat Speciation, Country of Origin and Aging, Adulteration Tests, False Labeling 3) By Food Tested: Meat and Meat Products, Dairy and Dairy Products, Processed Foods, Ingredients, Cereals, Grains, and Pulses A pivotal trend gaining traction within the food authenticity testing milieu is the impetus towards product innovation. Leading companies are at the vanguard, unleashing avant-garde solutions such as home testing kits to fortify their market standing. A case in point is the July 2022 launch by MuscleBlaze, an India-based stalwart in food supplements and sports nutrition, which unveiled MB ProCheck. This do-it-yourself (DIY) home protein testing kit leverages hydrophobic aggregation technology, demonstrating a proactive stance against whey protein adulteration. This paradigm shift underscores the industry's commitment to technological advancement and consumer empowerment, cementing its pivotal role in the global landscape. The food authenticity testing market report table of contents includes: 1. Executive Summary 2. Food Authenticity Market Characteristics 3. Food Authenticity Market Trends And Strategies 4. Food Authenticity Market - Macro Economic Scenario 5. Global Food Authenticity Market Size and Growth .... 31. Global Food Authenticity Market Competitive Benchmarking 32. Global Food Authenticity Market Competitive Dashboard 33. Key Mergers And Acquisitions In The Food Authenticity Market 34. Food Authenticity Market Future Outlook and Potential Analysis 35. Appendix | |
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