Food Authenticity Market is a commercial term against food frauds. Food fraud takes place when a food is knowingly placed on the market for financial gain with a purpose to hoax consumers. There are many types of possible food frauds. The food and standard agency (FSA) defines food fraud in two types; the sale of food is utterly harmful and unfit to consume and the other being wilful improper description of food. Therefore, a legit framework exists in enhancing the sharing and analysis to eliminate or minimize the fraud and informing industry’s own activity to assure an enhanced supply chain for food. On the basis of target testing, the global food authenticity market is segmented into meat speciation, country of origin & aging, adulteration & false labelling.
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The key driving factors responsible for the growth of Food
Authenticity market :
Food and drink producers depend
of supply chains to help consumers affirm of choice, consistency, and quality
of products, affordability and continuity of supply. A supply chain despite of
its complexity need to be managed adequately on risks. One of the major risk
for supply chain to sustain is population increase and rising demand from
limited resources and constantly changing diets. Thus, commercial food
companies also need to remain alert to the potential for food fraud and work
supportively with customers and suppliers to minimize the risks of food fraud.
Developing countries are much
vulnerable to food frauds owing to constantly changing dynamics in public and
private sector, thus authenticity is a vital component of food in terms of
quality components. Authenticity enables certainty and certification for every
individual product so that it possesses a set of legal features to prevent
every type of deception in the market. Owing to diversity of authentication
criteria and a high number of products, food authentication includes a series
of methods and techniques of general or specific investigation.
Commercially, food safety or food
authentication can only be reached by the growth of quality and food services
under surveillance via the entire food chain which forms as an indispensable
instrument to achieve the food traceability. Overall, with the rise in food
frauds and food deception in the market on a global scale, the global food
authentication market is anticipated to grow at a higher CAGR during the
forecast period.
The key driving factors
responsible for the growth of food authenticity market includes growth in
economically motivated adulterations owing to high competition and rise in
incidences of food frauds. In a highly competitive, food frauds due to
economically motivated adulterations are increasing.
On the basis of technology, the
global food authenticity market is segmented into PCR-based, LC-MS/MS, isotope.
PCR based segment is anticipated to grow at a higher CAGR during the forecast
period owing to reliability and wide use. On the basis of food testing, the
global food authenticity market is segmented into meat speciation, dairy and
processed foods.
On the basis of geographic
segmentation, the global food authenticity market spans North America, Europe,
Asia-Pacific Middle-East and Africa. APAC market is projected to be fastest
growing market owing to growth in food safety among consumers. The market is
growing at a higher CAGR owing to rise in stringent food regulations across
regions. North America dominates the global market due to stringent food
regulations existing across US countries.
The key players in the global
food authenticity market include SGS SA, Intertek Group Plc, Eurofins
Scientific, ALS Limited, LGC Science Group Ltd, Merieux Nutrisciences
Corportaion, Microbac Corporation Inc, EMSL Analytical Inc, Romer Labs
Diagnostics GmbH, Genetic ID, Inc.
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