Food Authenticity Market to Signify Strong Growth by 2024-2031

Food authenticity Market is anticipated to grow at a significant CAGR of 9.4% during the forecast period. The market growth is attributed to the increasing strict government regulations regarding food fraud, increasing Economically Motivated Adulterations (EMA) owing to increasing competition among food producers, and increasing food fraud such as false labeling, certification, and adulteration. Manufacturers have been forced to invest in modern food testing methods due to rising demand for clean-label products and a move toward organic food consumption. Owing to the high prevalence of economically motivated adulterations (EMA), governments are being forced to establish rigorous restrictions on food testing and authenticity determination, propelling the business to a multibillion-dollar valuation. However, factors such as complexity in testing techniques, and lack of harmonization of regulations tend to restrain the growth of the market.

The global food authenticity market is hit hard by the outbreak of COVID-19 in December 2019. Many practices are affected due to COVID-19. As a result of the consumer's desire to purchase more legitimate, healthier, and branded food products during the COVID-19 period due to the risk of COVID-19 and other viruses, the use of services such as food authentication has increased in 2020 compared to prior years. 

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Market Coverage

• Market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others

Food Authenticity Market Report Segment

By Technology 

• Polymerase Chain Reaction Based
• Isotope Methods
• Immunoassay/Elisa Based
• Mass Spectrometry
• Others

By Target Testing 

• Adulteration Tests
• Meat Speciation
• False Labeling
• Others

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Food Authenticity Market Report Segment by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe 

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific 

Rest of the World

• Latin America 
• Middle East & Africa

Company Profiles 

• ALS Ltd.
• AsureQuality Ltd.
• Bureau Veritas S.A.
• Campden BRI Ltd.
• EMSL Analytical Inc.
• Eurofins Scientific SE
• Genetic ID Inc.
• Intertek Group PLC
• LGC Group
• Merieux NutriSciences Corp.
• Microbac Laboratories, Inc.
• NEOGEN CORP.
• NSF International
• Romer Labs Division Holding GmbH
• SGS S.A.
• The Authentic Food Co. Ltd.
• Thermo Fisher Scientific Inc.

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Article source: https://article-realm.com/article/Food-Beverage/63728-Food-Authenticity-Market-to-Signify-Strong-Growth-by-2024-2031.html