The global food authenticity market is anticipated to grow at a considerable CAGR of 9.4% during the forecast period. Global food fraud cases have arisen as a result of increased competition among food manufacturers, resulting in deliberate replacement, tampering, misrepresentation of food products, poor packaging, and deceptive product representations. Small entrepreneurs are manipulating popular food goods such as milk with melamine, urea, and other components to enhance their economic benefits. According to the Ministry of Health, the financial police in Italy seized approximately 143,598 kg of fake food in 2017, the majority of which consisted of fruits, pasta, and legumes. Olive oil, milk, honey, and saffron are all common goods that are vulnerable to food fraud. According to the Food Fraud Database, over 16 percent of the olive oil consumed worldwide has a fake composition. The recognition of such incidents has created suspicion among customers regarding the acquisition of things based only on claims.
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The key companies operating in the industry are highly inclined towards the adoption of different growth strategies including capacity expansion, partnerships, mergers and acquisitions, geographical expansion, new product launches, and product innovation to remain competitive in the marketplace. For instance, Eurofins GeneScan Technologies GmbH and UgenTec established a partnership in October 2019 to develop assay plugins for Eurofins GeneScan Technologies’ molecular biology kits on UgenTec’s FastFinder real-time PCR analysis software platform. Eurofins will be able to scale up its assays, which will include analysis and automated result reporting, assuring the rapid sample-to-result times necessary in food, feed, and seed testing.
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Market Coverage
Segment Covered-
- By Technology
- By Target Testing
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Eurofins, Intertek PLC, SGS SA, and Thermo Fisher Scientific among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global 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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