MENAFN – EIN Presswire
The global food authenticity market was valued at $5.3 billion in 2017 and is projected to reach $10.0 billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030. In 2017, polymerase chain reaction (PCR) technology made up over one-third of this market.
Food fraud, which involves intentionally altering food for financial gain, is driving market growth. Food authenticity testing helps detect various types of fraud, from gross substitution (like whisky and horsemeat) to differentiating specific products (like Welsh versus Scottish lamb).
Despite the growth, challenges such as high costs, cheaper substitutes, and anti-dumping policies may hinder market expansion. The market is segmented by testing type (meat speciation, origin & aging, adulteration tests, and false labeling) and food type (meat, dairy, grains, processed foods, etc.). It is analyzed across regions like North America, Europe, Asia-Pacific, and LAMEA.
The report also includes a competitive analysis featuring key players like Archer Daniels Midland, BASF, Cargill, and Nestle. For more insights, you can inquire about purchases or discounts.
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