According to Reports and Data the global food authenticity testing market was valued at USD 6,268.8 Million in 2020 and expected to reach USD 11.09 Billion by the year 2028, at a CAGR of 7.8%. Adoption of stringent guidelines identifying with food fraud all around, rise in Economically Motivated Adulterations (EMA) has created a major challenge among nourishment makers, and increase in samples of nourishment degradation, for instance, certification, adulterations, and false labeling. Besides, fast development in worldwide exchange and increment in awareness among customers identified with food authenticity and affirmation are anticipated to support the food authenticity testing market market.
Top Companies Operating in the Global Food Authenticity Testing Market Report:
GS 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.
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Further key findings from the Food Authenticity Testing report suggest
· The polymerase chain reaction (PCR) segment in food authenticity testing market is projected to register the notable growth rate, in terms of revenue, registering a CAGR of 8.4% during the forecast period.
· North America is projected to account for the notablemarket share and is probably going to drive growth over the forecast period as this region. This is often primarily attributed to government strict food safety regulations and huge number of consumer complaints for food products in countries during this Asia Pacific market in expected to register fastest growth within the near future with a CAGR of 8.5%. The increasing food safety concerns among the consumers and also the growing marketplace for processed food are factor expected to drive growth of the food authenticity testing market in Asia Pacific region.
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For the purpose of helping readers make profitable business decisions, the report is written with industry analysts, market segmentation, and data collection. In addition to providing detailed information on technical and product advances, this report also discusses market value, growth rates, and niche market segments in detail.
An analysis of the Food Authenticity Testing market has been carried out by segmenting it into key regions and offering information on growth rates, market shares, current and emerging trends, production and consumption ratios, analysis of the industrial chain, demand and supply, imports and exports, revenue contributions, and the presence of key players in each region. To gain a better understanding of the regional spread of and progress of the Food Authenticity Testing market, a country-by-country analysis of the market is provided in the report.
The global Food Authenticity Testing market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Based on target testing the food authenticity testing market has been segmented as follows: (Revenue, USD Billion; 2020-2028)
- Meat speciation
- Country of origin and aging
- Adulteration tests
- False labeling
Based on technology the food authenticity testing market has been segmented as follows: (Revenue, USD Billion; 2020-2028)
- PCR-based
- LC-MS/MS
- Isotope methods
- Immunoassay-based
- Others
Based on food tested the food authenticity testing market has been segmented as follows: (Revenue, USD Billion; 2020-2028)
- Meat & meat products
- Dairy & dairy products
- Processed foods
- Ingredients
- Cereals, grains, and pulses
Key Questions Addressed in the Report:
· What are the dominating factors that are influencing the growth of the industry?
· In the forecast period, which market segment is expected to rise the most?
· What are the risks and challenges that the industry is facing?
· In the coming years, which area is projected to dominate the market?
· Who are the major players in the market? What kind of strategic business plans have they made?
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