The
global food certification market showcases an increasing degree of
competition, notes a recent market study by Transparency Market
Research. The stringent verification process for foods to receive
quality certification is leading to the higher adoption of certified
foods for health considerations. This trend has forced food
manufacturers to receive certification, thereby intensifying the
competition in the global food certification market.
Dekra
SE, AsureQuality Limited, SGS SA, Bureau Veritas, Underwriters
Laboratories Inc., and Intertek Group plc are some of the prominent
players in the global
food certification market. Key players in the market are focused
on mergers and acquisitions for strengthening their position in the
market. Large companies are also making investments for new
laboratories to enhance their technological capabilities to stay
competitive in the market.
The
global food certification market was valued at US$11.25 bn in 2015.
The market is expected to reach a valuation of US$16.09 bn by 2021
displaying a CAGR of 5.3% between 2015 and 2021.
Presence
of Large Educated Population Benefits Europe Food Certification
Market
In
terms of application, processed meat and poultry products, dairy
products, organic food, beverages, and other packaged food are the
segments of the market. Amongst these, the segment of other packaged
food stood as the leading segment accounting for a share of 23.4% in
the global market in 2014. Increasing adoption of branded foods and
rising awareness about the importance of food safety certification
are the major factors fuelling growth of the other packaged food
application segment. Processed meat and poultry products and dairy
products are also expected to emerge as significant application
segments of the food certification market.
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Beverages
is expected to emerge as a significant application segment in the
forthcoming years. Quality certification on carbonated drinks provide
a considerable degree of assurance to consumers regarding the health
risks associated with these beverages.
Geography-wise,
Europe stood as the leading regional market for food certification in
2014 followed by North America. High consciousness among consumers
about the quality of food that they consume combined with the rising
living standards are driving the food certification market in Europe.
Moreover, the increasing inclination of consumers for
health-benefitting foods is expected to hold promise for the regional
market of Europe. France, the U.K., and Germany contribute
significantly to the Europe food certification market due to a large
educated population.
Asia
Pacific is expected to display the fastest growth over the forecast
period. The rising awareness about the importance of food
certification among the urban population and the increasing
purchasing power for branded foods is driving the growth of the food
certification market in the region. The recent occurrences of food
contamination that led to casualties and fatalities in large numbers
have raised alertness among consumers about consuming certified
foods.
High
Cost to Receive International Certification Challenges Growth
The
demand for food certification is being driven in response to the
increasing demand for quality-tested and safe foods for health
considerations. With changing lifestyle and increasing purchasing
power in several parts of the world, consumers are spending
generously on quality-tested foods for longer years of good health.
Despite
strong demand for quality-tested foods, the high cost of obtaining
international certifications has dissuaded some manufacturers to look
at long term business profits. This is challenging the market’s
growth.
The
review presented is based on the findings of the Transparency Market
Research report, titled “Food Certification Market (Type -
International Organization for Standardization, International Food
Standard (IFS), Safe Quality Food (SQF), British Retail Consortium
(BRC) standard, Kosher Certification, Halal Certification, Food
Safety and Standards Authority of India (FSSAI), China Food and Drug
Administration (CFDA), U.S. Department of Agriculture (USDA), U.S.
Food and Drug Administration (FDA), European Food Safety Authority
(EFSA), Ministry of Food and Drug Safety (MFDS); Application -
Processed Meat and Poultry Products, Dairy Products, Infant Food
Products, Organic Food, Beverages, Other Packaged Food) - Global
Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 -
2021.”
The
global food certification market is segmented as follows:
Global
Food Certification Market, by Type:
- International Organization for Standardization
- International Food Standard (IFS)
- Safe Quality Food (SQF)
- British Retail Consortium (BRC) standard
- Kosher Certification
- Halal Certification
- Food Safety and Standards Authority of India (FSSAI)
- China Food and Drug Administration (CFDA)
- S. Department of Agriculture (USDA)
- S. Food and Drug Administration (FDA)
- European Food Safety Authority (EFSA)
- Ministry of Food and Drug Safety (MFDS)
- Others
Global
Food Certification Market, by Application:
- Processed Meat and Poultry Products
- Dairy Products
- Infant Food Products
- Organic Food
- Beverages
- Others Packaged Food
Global
Food Certification Market, by Geography:
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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