Categories: Market Research

Food Authenticity Testing Market Drivers, Demand, Insights 2024-2033: Unveiling Key Factors

The food authenticity testing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Food Authenticity Testing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size –

The food authenticity testing market size has grown strongly in recent years. It will grow 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.

The food authenticity testing market size is expected to see strong growth in the next few years. It will grow to $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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Scope Of Food Authenticity Testing Market

The Business Research Company’s reports encompass a wide range of information, including:

Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
Drivers: Examination of the key factors propelling market growth.
Trends: Identification of emerging trends and patterns shaping the market landscape.
Key Segments: Breakdown of the market into its primary segments and their respective performance.
Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
Macro Economic Factors: Assessment of broader economic elements impacting the market.

Food Authenticity Testing Market Overview

Market Drivers –

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.

Market Trends –

Product innovation is a key trend gaining popularity in the food authenticity testing market. Major companies in the market are introducing innovative products such as home testing kits to sustain their position in the market. For instance, in July 2022, MuscleBlaze, an India-based food supplements and sports nutrition company, launched MB ProCheck, a DIY (do-it-yourself) home protein testing kit. The new product is based on the principle of hydrophobic aggregation technology to detect whey protein adulteration.

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

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Regional Insights –

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 market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies operating in the food authenticity testing market report are 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.

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