Food Authenticity Testing Global Market 2024 To Reach $11.91 Billion By 2028 At Rate Of 8.3%

The Business Research Company’s Food Authenticity Testing Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 8, 2024 /EINPresswire.com/ -- The food authenticity testing market has experienced robust growth in recent years, expanding from $8.05 billion in 2023 to $8.66 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to food safety concerns, stringent regulations, globalization of food supply chains, increased incidents of food fraud, development of rapid testing methods.

What Is The Estimated Market Size Of The Global Food Authenticity Testing Market And Its Annual Growth Rate?
The food authenticity testing global market is projected to continue its strong growth, reaching $11.91 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to growing demand for plant-based products, development of portable testing devices, demand for customized testing solutions, rise in food allergen concerns, focus on non-destructive testing methods. Major trends in the forecast period include advancements in analytical technologies, increased adoption of dna testing, authentication of organic and specialty products, blockchain technology for traceability, integration of artificial intelligence (ai).

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Growth Driver Of The Food Authenticity Testing Market
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.

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Which Market Players Are Driving The Food Authenticity Testing Market Growth?
Key players in the food authenticity testing market include SGS SA, 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, Genetic ID NA Inc., Neogen Food and Animal Safety Pvt. Ltd., AsureQuality Ltd., Charm Sciences Inc., Premier Analytical Services, Dairyland Laboratories Ltd., Bio-Check Ltd., AES Laboratories Pvt. Ltd., IEH Laboratories and Consulting Group, Envirologix Inc., Thermo Fisher Scientific Inc., National Sanitation Foundation International, Danaher Corporation, Covance Inc., Bureau Veritas SA, TÜV SÜD AG, FoodChain ID Group Inc., QIMA Limited, Symbio Laboratories, Fera Science Limited, Food Forensics Ltd.

What Are the Key Trends That Influence The Food Authenticity Testing Market Size?
Product innovation is a key trend gaining popularity in the market. Major companies in the market are introducing innovative products such as home testing kits to sustain their position in the market.

How Is The Global Food Authenticity Testing Market 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

Geographical Insights: North America Leading The Food Authenticity Testing Market
Europe was the largest region in the food authenticity testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food authenticity testing global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Food Authenticity Testing Market Definition
Food authenticity testing is an analytical testing of food and food products to check their composition, purity, origin, and edibility. It is used to detect any adulterations in the food and check its authenticity.

Food Authenticity Testing Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global food authenticity testing market report covering trends, opportunities, strategies, and more
The Food Authenticity Testing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on food authenticity testing market size, food authenticity testing market drivers and trends, food authenticity testing market major players, food authenticity testing competitors' revenues, food authenticity testing market positioning, and food authenticity testing market growth across geographies. The food authenticity testing global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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