In terms of revenue, the global food authenticity testing market is expected to reach USD 9,956 Million by 2028, growing at a CAGR of 8.5% from 2021 to 2028. The increasing demand for accurate labeling and maintaining food quality in the food industry is driving the food authenticity testing market. The factor fueling the growth of the food authenticity testing market is the implying stringent regulation by government bodies to avoid adulteration in the food industry.
- Under the testing type segment adulteration sub-segment is anticipated to dominate the segment for food authenticity testing market and growing at a CAGR of 7.8%. This is attributed to rising adulteration activities taking place across the world in food products such as meat, poultry, grains, cereals, and other processed foods.
- Dairy and dairy products sub-segment under the food tested segment held a market share of 33.5% in 2021. This is attributed due to its high demand in the consumer sector and less product shelf life.
- Asia Pacific is expected to grow at a CAGR of over 9.2% from 2021 to 2028. This is attributed due to major players present in this region and high norms for food testing norms imposed by the government bodies
Some of key players in the food authenticity testing market are, SGS S.A., Intertek Group PLC, Eurofins Scientific SE, ALS Limited, LGC Science Group Ltd., Mérieux Nutrisciences Corporation, Microbac Laboratories, Inc., EMSL Analytical Inc., Romer Labs Diagnostic GmbH, and Genetic ID NA, Inc. For instance, in 2020, BIA Analytical has raised USD 7 Million to fight aging the of 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.
Food authenticity and food adulteration have been a subject of concern with consumers and producers. Problems with dilution, mislabeling, 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 the food authenticity market globally.
The emerging economies of the Asia Pacific such as India, China, Indonesia, and Thailand among others are expected to fuel the growth of the food authenticity testing market and this region held the largest market share in 2020. Increasing activities related to food fraud, food adulteration, and maintaining low food quality are driving the demand for the 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 for the same. The Middle East and Africa, Europe, and North America will also show rapid development in the food authenticity testing market especially in the meat and meat products segments as the majority of the population is dependent on meat and met products.