The global food certification market size is expected to reach US$ 17.4 Bn by the end of 2030. According to a study by Future Market Insights (FMI), the market will show a steady rise at 5.7% CAGR between 2020 and 2030. According to the report, growing customer awareness about certified food products has raised the market for food certification considerably. This has contributed to the widespread adoption by food producers of certification programs to gain consumer trust. Another significant factor that drives market growth is the growing demand for certification of processed meat products. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the food certification market. Some of these are:
- The projected market value in 2020 was USD 10 billion. The market is exhibited during the report's forecast period to display a steady pace of growth.
- The organic food segment has the largest market share based on the applications and is expected to lead the market during the forecast period.
- North America's market is the largest, owing to the presence on the market of a number of food certification players who help the government control the food market in that region.
- The Asia-Pacific food certification market is expected to expand at the highest level due to the ever-increasing demand for certified food among young and middle-class consumers in this region.
- Based on the form, the USDA Organic Test is expected to dominate the Global Food Certification market during the forecast period due to the growing demand for the GM food differentiation test.
- Factors such as increasing consumer awareness about certified food products, increasing demand for processed meat products certification and increased foodborne infection are expected to lead global market growth
“In order to gain competitive advantage, market players are likely to focus on various strategies. For instance, several among them are likely to enter into strategic collaborations and invest in product innovations to strengthen their foothold,” said a lead analyst at FMI
Change in Demand Pattern Due to COVID-19 Outbreak will Impact Growth
The growing influence of the food fusion community worldwide and the rapid transition from organic food to processed food and convenience food commodity help boost the food certification market. Furthermore, the increasing influx of multi-domestic food retail chains in developing countries with their mixed product offering is pushing government agencies to control this market. The food certification also helps food producers, food service providers, coordinated and unorganized food retail chains to follow a safe process and uniform equipment, products, and stable and hygienic production environment.
Not only has the coronavirus epidemic seriously impacted health and well-being of people around the world; it has also impacted their everyday routines and shopping pattern. It has created a ripple effect which is shaking the global economy. Many businesses will sink in any significant economic disturbance, and others will benefit. The current situation is very complex and the food certification market needs to focus on continuous transition. As countries move towards implementing measures to stop the escalating COVID-19 pandemic, caution must be taken to mitigate possible impacts on food supply or unexpected impacts on global trade and food security, could hamper the growth prospects for the food certification market.
For More Detailed Insights on Food Certification Market
Who is Winning?
The major players include AsureQuality Limited, Bureau Veritas, DEKRA SE, DNV GL, Eurofins Scientific, Intertek Group Plc., Lloyd’s Register Group Limited, SGS SA, TÜV SÜD, and Underwriters Laboratories Inc.
In addition to this, mergers and acquisition remains a popular strategy among market players. Companies intend to expand their regional footprint through strategic collaborations.
Get Valuable Insights into Food Certification Market
Future Market Insights, in its new report, presents an unbiased analysis of the global food certification market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. On the basis of type, the sub-markets include ISO 22000, BRC, SQF, IFS, Halal, Kosher, Free-From certifications, and other types. On the basis of risk category, the sub-markets include high-risk foods, and low-risk foods. On the basis of application, the sub-markets include meat, poultry and seafood products, dairy products, infant food, beverages, bakery & confectionery products, free-from foods, and other applications. On the basis of supply chain, the sub-markets include growers, manufacturers, and retailers. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.
About Food & Beverages division of FMI
Expert analysis, actionable insights, and strategic recommendations - the Food & Beverages team at FMI helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 100+ countries for over a decade. The team provides end-to-end research of the global food & beverage market and consulting services; know how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.