Food authenticity is a commercial term against food frauds. Food fraud takes place when a food is knowingly placed on the market for financial gain with a purpose to hoax consumers. There are many types of possible food frauds. The food and standard agency (FSA) defines food fraud in two types; the sale of food is utterly harmful and unfit to consume and the other being wilful improper description of food. Therefore, a legit framework exists in enhancing the sharing and analysis to eliminate or minimize the fraud and informing industry’s own activity to assure an enhanced supply chain for food. On the basis of target testing, the global Food Authenticity Market is segmented into meat speciation, country of origin & aging, adulteration & false labelling.
Food and drink producers depend of supply chains to help consumers affirm of choice, consistency, and quality of products, affordability and continuity of supply. A supply chain despite of its complexity need to be managed adequately on risks. One of the major risk for supply chain to sustain is population increase and rising demand from limited resources and constantly changing diets. Thus, commercial food companies also need to remain alert to the potential for food fraud and work supportively with customers and suppliers to minimize the risks of food fraud.
Developing countries are much vulnerable to food frauds owing to constantly changing dynamics in public and private sector, thus authenticity is a vital component of food in terms of quality components. Authenticity enables certainty and certification for every individual product so that it possesses a set of legal features to prevent every type of deception in the market. Owing to diversity of authentication criteria and a high number of products, food authentication includes a series of methods and techniques of general or specific investigation.
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Commercially, food safety or food authentication can only be reached by the growth of quality and food services under surveillance via the entire food chain which forms as an indispensable instrument to achieve the food traceability. Overall, with the rise in food frauds and food deception in the market on a global scale, the global food authentication market is anticipated to grow at a higher CAGR during the forecast period.
The key driving factors responsible for the growth of food authenticity market includes growth in economically motivated adulterations owing to high competition and rise in incidences of food frauds. In a highly competitive, food frauds due to economically motivated adulterations are increasing.
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On the basis of technology, the global food authenticity market is segmented into PCR-based, LC-MS/MS, isotope. PCR based segment is anticipated to grow at a higher CAGR during the forecast period owing to reliability and wide use. On the basis of food testing, the global food authenticity market is segmented into meat speciation, dairy and processed foods.
On the basis of geographic segmentation, the global food authenticity market spans North America, Europe, Asia-Pacific Middle-East and Africa. APAC market is projected to be fastest growing market owing to growth in food safety among consumers. The market is growing at a higher CAGR owing to rise in stringent food regulations across regions. North America dominates the global market due to stringent food regulations existing across US countries.
The key players in the global food authenticity market include SGS SA, Intertek Group Plc, Eurofins Scientific, ALS Limited, LGC Science Group Ltd, Merieux Nutrisciences Corportaion, Microbac Corporation Inc, EMSL Analytical Inc, Romer Labs Diagnostics GmbH, Genetic ID, Inc.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/food-and-beverage
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