A recent market study published by Future Market Insights on the food certification market offers global industry analysis for 2016-2020 & opportunity assessment for 2021–2031. The study offers a comprehensive assessment of the more important market dynamics.
The food certification market will register healthy growth in 2021 with worldwide revenues projected to increase by 10.30% year over year. Future Market Insights (FMI) has forecast the food certification market to reach US$ 8.4 billion in 2021 backed by the rising demand for food certified products. The market also registered an impressive year-on-year growth at 10.30% CAGR in 2021 owing to the increasing demand for processed meat and halal-food products. Increasing cases of food-borne infection will create opportunities for growth in the coming years.
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Consumers are now hyperaware about the products they are buying. Need for transparency in the food ingredients and clean-label effect have uplifted the food certification market scenario. COVID-19 has created a ripple effect which is shaking the global economy, subsequently impacting the food certification market.
Key Takeaways from FMI’s Food Certification Market Study
- Increasing consumption of processed food across the globe has spurred growth in the market. In terms of application, the meat segment will hold lion’s share in the global food certification market.
- ISO 22000 and free-from certification type, collectively, are anticipated to dominate the market.
- India is likely to emerge as a lucrative market due to the advent of multi-domestic food services and growing demand for halal food products.
- Growing cases of foodborne diseases in the U.S are likely to spur the growth, bolstering the demand of food certification in the country.
- China, Japan, and South Korea are expected to witness positive growth backed by the rising need for meat processed food certification.
- Muslim countries in the Middle East will spur the market growth owing to the increased demand of kosher and halal certified food products.
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Competitive Landscape
Major players include Intertek Group PLC, Llyod’s Register Group Limited, AsureQuality Limited, Bureau Veritas, DEKRA SE, DNV GL, Eurofins Scientific, SGS SA, TÜV SÜD, and Underwriters Laboratories Inc.
Mergers and acquisition remains popular strategy adopted by key players to maintain their strong foothold in the industry. Top players including Intertek Group, SGS SA, Bureau Veritas SA, Eurofins Scientific, and ALS Limited account for nearly 45% of global market share.
Key Segments Covered in Food Certification Market Study:
By Type:
- BRC Food
- IFS Food
- ISO 22000
- FSSC 22000
- HACCP
- Global GAP
- Organic
- Kosher
- Halal
- Others
By Application Type:
- Bakery & Confectionery
- Dairy Products
- Processed & Packaged Food
- Infant Food
- Alcoholic & Non-alcoholic Beverages
- Functional Food
- Meat & Poultry Products
- Seafood
Key Questions Answered in the Report
- What is the current food certification market value?The food certification market is expected to surpass a valuation of US$ 8.4 Bn in 2021
- At what rate did the food certification market grow during 2016 and 2020?
The food certification market witnessed an impressive growth at 8.90% CAGR during 2016 and 2020.
- What are the key trends driving food certification sales?Rising trend of transparency and clean label products within food sector is driving the demand for food certification.
- Who are the leading players in the food certification market?Intertek Group PLC, SGS SA, UREAU Veritas SA, Eurofins Scientific SE, and ALS Limited are the top players leading the food certification market.
- What is the demand outlook for North America food certification market?
Demand for food certification across North America is set to soar at an astounding CAGR of over 8.8% during the forecast period.
- What is the Europe market outlook for food certification?Europe food certification market will exhibit an impressive growth at 9.9% CAGR during the forecast period.
- Which are the top countries driving the food certification demand?Top countries in terms of food certification sales are the U.S., the U.K, Germany, India, and China.
- What is the share of leading players in food certification market?
Leading players of global food certification market is expected to contribute around 35-45% of total market share.
- What is the current market share of Japan and South Korea in the global food certification market?In 2021, South Korea accounted for 19.4% market share while Japan held over 27.9% of global market share.
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Table Of Content
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Food Certification Market Demand Analysis 2016-2020 and Forecast, 2021-2031
5. Global Food Certification Market – Pricing Analysis
6. Global Food Certification Market Demand (Size in US$ Mn) Analysis 2016-2020 and Forecast, 2021-2031
7. Global Food Certification Market Analysis 2016-2020 and Forecast 2021-2031, By Type
8. Global Food Certification Market Analysis 2016-2020 and Forecast 2021-2031, By Application