Food Certification Market is predicted to grow from $8 Bn in 2021, at a CAGR of 10.5% during the forecast period.
Food certification is a certificate given to food producers, farmers, retailers, and other parties. Food certification certifies the food as having met all the required food safety requirements and being safe for eating. For various purposes, certification of food is provided by several governmental certified organizations. Several types of food certification exist, including British Retail Consortium (BRC), Halal, Safe Quality Food (SQF), vegan, organic, gluten-free, and others. Only governmental authorities can grant certification for certain products after inspecting the food products and determining whether they pose a risk to consumers and are safe to consume.
The governing entities accept businesses and organizations like Eurofins Scientific, SGS SA, Kiwa, Dekra, and others as third parties that offer various certifications to manufacturers, growers, merchants, food service groups, and others. The food item must meet all requirements for regulations set forth by the governing organization.
Growing government initiatives to assure food safety and growing consumer awareness of food safety are the main factors boosting the growth of the food certification market.
Market Dynamics:
Drivers:
The rising levels of global warming and population growth have resulted in deforestation, and diseases transmitted by insects and rodents. Rodents usually sneak into restaurant kitchens, which leads to the spreading of diseases. Thus, restaurants and other food venues must be monitored for any diseases they may spread. This has helped to boost the growth of food certification market.
Several processes are used to develop, adopt, and identify global standards. For instance, they support market expansion and even take into account consumer health, environmental preservation, and labor safety. With an expansion in private equity firms, standards and regulations have begun to play a crucial role, and as a result, the global standard paradigm is steadily shifting. As a result, both the training and inspection markets as well as the total industry under study are being driven by the globalization of standards.
Restraints:
The demand from consumers for safe food items has been steadily rising. This has led to the development of several food safety regulations. As a result, the proliferation of national standards for managing food safety has created uncertainty and increased the need to harmonize these standards. Industry experts have frequently proposed standardized and harmonized food safety standards to streamline the complexity of food laws. This is restraining the growth of the market.
Opportunities:
It is anticipated that the Middle East and other Muslim-majority nations will see a growth in disposable income, which will accelerate the use of halal certifications. The demand for meat products that have received halal certification is anticipated to rise as consumers' worries about meat consumption grow.
The market for food certification is expected to expand with high-value prospects due to the rise in demand for organic products. Some of the biggest markets for organic food are the US, Germany, France, China, Canada, Italy, and the UK.
Key Players:
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DEKRA SE ALS Limited
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Underwriters Laboratories Inc.
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Kiwa Sverige
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Lloyd’s Register
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TV SD, Bureau Veritas
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SGS SA
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Intertek Group Plc
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Eurofins Scientific
Market Segmentation:
Food Certification Market, By Certification Type
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ISO 22000
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BRC
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IFS
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Halal
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Kosher
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Others
Food Certification Market, By Food Type
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Meat and Poultry
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Dairy
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Infant Foods
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Bakery and Confectionery
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Others
Food Certification Market, By Region
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North America
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Europe
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Asia-Pacific
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Latin America
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Middle East & Africa
Regional Analysis:
Asia-Pacific is anticipated to dominate the market during the forecast period. The Asia-Pacific market is primarily driven by stringent government regulations along with incidents of food fraud, food recalls, and adulteration in the area. Also, the continuously expanding demand for certified food among new and middle-class consumers in the areas is adding value to the entire industry of the market.
The European region is predicted to occupy a sizable share of the market. Due to the existence of laws and standards across numerous food application categories. These laws and guidelines cover a range of food application areas. This will propel the growth of the market.
Scope of the Report:
Report Coverage |
Details |
Base year |
2021 |
Forecast period |
2030 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.5% |
Regional analysis |
North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa |
Current Market size |
USD 8 Billion |
Forecast market growth |
USD XX Billion |
User
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Introduction
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Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
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