The food irradiation market is anticipated to have a valuation of US$ 312 million in 2023. According to Future Market Insights, between 2023 and 2033, the market is forecast to expand at a 6% CAGR and reach a value of US$ 540.9 million.
Heightening concerns regarding food adulteration and contamination is augmenting the need for effective quality assessment solutions, thus expanding the scope of food irradiation technologies. These technologies help enhance the shelf life of foodstuffs by eliminating bacterial and fungal growth.
Furthermore, accelerating demand for sterile foods in healthcare settings is also providing traction to food irradiation technologies. Sterile foods are highly beneficial for patients suffering from life altering diseases such as cancer and HIV/AIDS.
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COVID-19 Impact Insights
The novel coronavirus pandemic has led to a major global economic downturn. Multiple industries are experiencing production cycle and supply chain disruptions due to government enforced lockdowns to contain the virus’s spread. Consequently, they are experiencing reduced profit and revenue margins.
With regard to food irradiation, sluggishness is anticipated to remain until the latter half of 2021. This is primarily because of a reduction in laboratory testing due to curbs on on-premises operations by agencies. However, this downturn is not expected to be severe, as testing is possible under remote conditions as well.
Furthermore, demand for clean-label and adulterant free foods has especially heightened since the pandemic’s onset, attributed to fears of contracting the coronavirus through the ingestion of contaminated foodstuffs. This is expected to sustain demand for food irradiating tests throughout the duration of the pandemic.
Competition Landscape
The global food irradiation market is interspersed with the presence of various regional and international level manufacturers. Prominent vendors include Food Technology Service Inc., Sterigenics International Inc., Gray Star Inc., Ionisos SA, Nordion Inc., Reviss Services Ltd., Sadex Corporation, Sterix Isomedix Services, Scantech Sciences Inc., and Phytosan SA De C.
A combination of divestitures, expansion of manufacturing and business capacities and acquisitions characterize the aforementioned players’ key market strategies. Besides, they also concentrate on enhancing their product portfolios through the development and introduction of new technologies.
In 2017, Sterigenics International Inc. successfully executed its gamma sterilization capacity in an effort to increase its global outreach. The expansion cost amounted to US$ 17.5 million. The expansion involved the installation of a new gamma irradiator to expand its testing capacities.
In 2019, Ionisos SA acquired Steril Milano, a specialist in sterilization services. The acquisition was initiated keeping in mind the company’s objective of enhancing their regional footprint across Europe, thus allowing them to access a wider customer base.
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Key players
- Food Technology Service Inc.
- Sterigenics International Inc.
- Gray Star Inc.
- Ionisos SA
- Nordion Inc.
- Reviss Services Ltd.
- Sadex Corporation
- Sterix Isomedix Services
- Scantech Sciences Inc.
- Phytosan SA De C
- Tacleor LLC
Key segments
By Source:
- Gamma Radiation
- X-ray Radiation
- Electron Beam Radiation
By Technology:
- Ultra-high Pressure
- Steam Pasteurization
- Food Coating
- Ozone Treatment
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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