The
global food certification market is prognosticated to witness a
gradual rise in the competition. Usually, the certified food products
are considered much safer, because they go through a strict quality
check process, as a result of which many buyers go for buying
certified foods to prevent health issues. This factor has surged the
demand for the manufacturers to produce certified food products,
which increases the competition level in coming years.
According
to a report by Transparency Market Research (TMR), the global food
certification market is foreseen to expand at a steady CAGR of 5.3%
within the forecast period from 2015 to 2021. Back in 2015, the
market was valued around worth of US$11.25 bn. This figure is likely
to surge around US$16.09 bn by the end of 2021.
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Bureau
Veritas, Dekra SE, AsureQuality Limited, SGS SA, Underwriters
Laboratories Inc, and Intertek Group plc are among the key players
operating the in global food certification market. The key players
are indulging in various mergers and acquisitions to sustain their
market position. Big firms are investing in advancement in
technologies as well as new labs for research activities.
Based
on application, the global food certification market is segmented
into organic food, poultry products and processed meat, dairy
products, beverages, infant food products, and others Among these, in
2014, the others packaged food segment accounted for the maximum
share 23.4% in the global market. Geographically, Europe region
dominated to market of food certification in 2014, trailed by North
America.
Change
in Lifestyle to Auger Growth in Food Certification Market
Rise
in demand regarding food certification will grow with the demand in
more safe products and better product quality. The increasing cases
of contamination of food is becoming a concern of most of the buyers.
Since, there is a notable change in lifestyle in past few years,
consumers are looking for fresh food, poultry, organic food, and meat
products. This is an essential factor driving the global food
certification market. Moreover, food certifications are of most
extreme significance for food producers, which as a result is
fuelling demand for the global food certification market.
The
market is anticipated to pick up the traction from the increased
prevalence of food borne infections. The substantial changes in
eating pattern because of a hectic life and as a result of which
people tend to buy convenient food represents a very lucrative
opportunity for the food
certification market.
High
Expenses of International Food Certification to Hinder Overall Demand
In
spite of experiencing significant demand, the staggering expense of
international certifications has stopped some food producers and
handling units to take food certification as a lucrative opportunity.
However, strict regulations imposing the need of certification of
foods in developing countries are expected to provide ample of
opportunities for the players.
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