In 2023, the US$ 5893 million for the food authenticity testing service market is estimated to reach a revised size of US$ 10112.8 million by 2033. This market is expected to expand at a CAGR of 6% during the analysis period.
Consumers have become increasingly skeptical about the authenticity of food products designed to meet specific needs, such as vegan, free-form, and organic. This is due to intentional ingredient substitution, misleading consumers with false claims, and disruptive labeling.
To differentiate their products from conventional offerings, food manufacturers have adopted food authentication techniques to capture significant market share. Consumers are increasingly concerned about food safety and clean labels, so adoption may be on the rise.
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The increasing incidence of fraud, false labeling, certification, and adulteration in food products is one factor driving the market growth. Additionally, consumers are becoming more knowledgeable about food quality, increasing market growth.
“The epidemic of economically motivated infestation (EMA) to overcome competition has forced governments to impose strict regulations on food inspection and authenticity regulations, pushing markets toward a multi-billion-dollar valuation.” – says a lead analyst at Future Market Insights.
Key Takeaways from Market Study
- The food authenticity testing service market is expected to grow at a CAGR of 6% over the forecast period.
- It is estimated that the food authenticity testing service market in North America will remain strong during the forecast period.
- Due to its large population, Asia Pacific is expected to be the fastest-growing region for food authenticity testing services
- Testing meat speciation authenticity is bolstered by a high incidence of meat consumption
- The food authenticity testing services market in China is expected to witness significant growth at a CAGR of around 4.4%.
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Competitive Landscape:
The global food authenticity testing service market is dominated by a small number of players aiming to concentrate their presence in emerging markets. They launch products, introduce innovations, acquire strategic companies, and establish laboratories and research facilities in areas that are not developed. By offering innovative products, market players can maintain supply and demand, thus assisting the growth of the overall market.
Several prominent companies dominate this market, including ALS Ltd, EMSL Analytical, Inc., Genetic ID NA Inc., Eurofins Scientific SE, Merieux NutriSciences Corporation, Intertek Group PLC, Microbac Laboratories Inc., SGS SA, Romer Labs, others.
Recent Developments:
- In collaboration with Eurofins GeneScan Technologies GmbH in October 2019, UgenTec’s real-time PCR analysis software platform, FastFinder, may be used to develop assay plugins for Eurofins GeneScan Technologies’ portfolio of molecular biology kits. Furthermore, the partnership can help Eurofins scale up its assays with automated results reports and fast sample-to-result times for food, feed, and seed testing.
- With the acquisition of Vanguard Sciences Inc. in January 2018, SGS expanded its global network of agriculture and food laboratories by integrating the company’s two food laboratories. Agricultural and food testing is provided by two laboratories, including product testing and research (including testing of processes and products).
- SGS announces the opening of its new food testing laboratory in Papua New Guinea. In addition to food safety, quality, and sustainability, SGS offers a comprehensive range of services.
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Food Authenticity Testing Services Market Segmentation by Category
By Food Tested:
- Meat & Meat Products
- Dairy & Dairy Products
- Processed Foods
- Other Food Tested
By Target Testing:
- Meat Speciation
- Country of Origin & Ageing
- Adulteration
- False Labelling
By Technology:
- PCR-Based
- Liquid Chromatography-Mass Spectrometry (LC-MS)
- Isotope
- Immunoassay Based/ELISA
- Other Technologies
By Region:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
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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