The
demand for food certification is increasing in response to the rising
prevalence of food-borne diseases. The recent instances of food
contamination reported across emerging economies have compelled
governments to mandate food certifications. Currently, International
Organization for Standardization (ISO 22000), Safe Quality Food
Certification, International Food Standard, British Consortium
Standard, Halal Certification, and Kosher Certification are the most
popular certifications in the international market, states
Transparency Market Research (TMR). The demand for these
certifications is expected to increase in the forthcoming years as
food trade across developing nations rises.
Interpret
a Competitive outlook Analysis Report with free PDF
Brochure:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=6331
Besides
this, the changing consumption pattern and the subsequent demand for
convenience food will fuel the demand for food certifications.
However, the high cost of a majority of these certifications will
inhibit their proliferation in small businesses. Nevertheless, TMR
expects the market to report a CAGR of 5.3% between 2015 and 2021.
The
global food certification market stood at US$11.25 bn in 2014 and is
expected to reach US$16.09 bn by the end of 2021.
Rising
Awareness about Food Contamination to Fuel Demand for Food
Certifications
Based
on application, poultry products and processed meat, organic food,
dairy products, infant food products, beverages, and others packaged
food segment (comprising bakery products) constitute the key segments
in the global food certification market. Of these, the others
packaged food segment held the dominant share of 23.4% in the market
in 2014. Increasing brand consciousness among consumers and the
rising awareness about food hazards are the key factors fuelling the
demand for food certification in this segment.
The
market is also expected to witness increased demand from the
processed meat and poultry and dairy products segments. However, TMR
projects that their market share will decline over the course of the
forecast period.
In
the forthcoming years, food certification in the beverage segment is
expected to increase considerably. Beverages include both carbonated
and non-carbonated drinks. Certified manufacturers of beverages
provide quality assurance, which is the key factor fuelling the
demand for food certification in this segment.
Changing
Consumption Patterns to Boost Demand for Food Certification in Europe
Regionally,
Europe led the global food certification market in 2014, followed by
North America. Consumers in the region exhibit high consciousness
about the food they eat. This, combined with the rising standards of
living, is fuelling the demand for food certification in Europe.
Furthermore, the region is witnessing a growing inclination of
consumers towards healthy food products, which is expected to give
significant impetus to the regional market. Germany, France, and the
U.K. are currently demonstrating the most lucrative opportunities in
the market. According to TMR, the Europe food
certification market is expected to reach US$5.77 bn by the end
of 2021.
North
America is also a significant market for food certification. However,
TMR expects Asia Pacific to report the fastest growth during the
course of the forecast period. The rising standards of living and
recent incidences of food contamination across emerging economies
will fuel the demand for food certification in Asia Pacific. The
prevalence of food-borne diseases has significantly increased in Asia
Pacific and such concerns will also drive the need for food
certification in the region.
Some
of the players operating in the food certification market are ALS
Limited, Underwriters Laboratories Inc., Dekra SE, Bureau Veritas,
SGS SA, AsureQuality Limited, Lloyd's Register Group Limited,
Intertek Group plc., TÜV SÜD AG, and DNV GL Group AS.
No comments:
Post a Comment