How big is the opportunity for the food certification market?
by Mit K. SEOThe food
certification market is estimated to be valued at USD 8.45 Billion in
2017, and is projected to reach USD 11.45 Billion at a CAGR of 5.2% from 2017
to 2022. This market is driven by the increasing consumer awareness about
certified food products and rising prevalence of foodborne illnesses. Food
manufacturers have been gaining consumer trust by voluntary adoption of
certification programs. They are also inclined to enhancing the diversified
product portfolio and brand value. The growth of the processed meat industry
has been driving the food certification market.
The key market players adopted strategies such as
expansions, acquisitions, agreements, partnerships, accreditations, and new
service launches to meet the growing demand for food certifications.
The active players
in the food certification market include:
·
Dekra (Germany)
·
Intertek (UK)
·
TÜV SÜD (Germany)
·
SGS (Switzerland)
·
DNV (Norway)
·
Bureau Veritas (France)
·
Eurofins (Luxembourg)
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DEKRA is one of the leading organizations in the
testing & certification market. DEKRA provides certification services
through its industrial division, in nearly 200 countries, and works with more
than 100 partners around the globe for local approvals. Certification services
are offered throughout the product lifecycle. DEKRA food certifications comply
with international safety standards. It offers certifications according to the
international standards as well as first- and second-party audits. The
company’s product testing & certification service unit expanded the range
of services that it offers by setting up laboratories in Europe and Asia, owing
to the growing awareness of food quality testing & certification. In
November 2014, DEKRA acquired RCI Safety, a global safety consulting and
solutions firm headquartered in the US.
Bureau Veritas is a global leader providing testing,
inspection, and certification to meet the growing challenges of quality,
safety, environmental protection, and social responsibility. Bureau Veritas has
900 accreditations and delegations. It is certified ISO 9001 and was the first
to have its network accredited with ISO 17020. The company is a member of
specialized international organizations, such as the Grain and Feed Trade
Association (GAFTA), the Federation of Oilseeds and Fats Association (FOSFA),
the Sugar Association of London (SAL), and the Agri Committee of the
International Federation of Inspection Agencies (IFIA). The company operates in
140 countries across the Americas, Europe, the Middle East, Africa, and Asia
Pacific. In April 2016, Bureau Veritas, in partnership with AsureQuality (New
Zealand), acquired Dairy Technical Services (Australia). This acquisition
enabled Bureau Veritas to access agri-food markets in Asia Pacific and offer a
large range of services that help companies to reduce risk, ensure quality, and
improve productivity throughout the supply chain.
The free-from segment of the global
food certification market is projected to grow at the highest CAGR during the
forecast period. It includes a variety of food ingredients or processed foods
that are labeled with “free-from” certifications. Increase in demand for
gluten-free and allergen-free certified products as well as organic foods which
are free from chemical fertilizers, pesticides, GMOs, and growth regulators is
projected to drive the growth of this segment in the next five years.
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The high-risk foods segment, by
risk category, is projected to grow at a relatively higher rate during the
forecast period. Due to their highly perishable nature, stringent quality
standards are maintained while manufacturing, storing, and transporting these
products. Strong regulations are imposed by the governments across the world
for the manufacturing, handling, and trading of high-risk products. Therefore,
this segment is projected to grow at the highest CAGR during the review period.
The North American region is projected to grow at
the highest CAGR during the forecast period. The North American market is
mainly driven by the strong food safety regulations imposed by the governments
across the North American countries for imported goods.
The US accounted for the largest country-wise market
for food certification in the North American region, and is majorly driven by
the factors such as initiatives taken by the US government pertaining to
certification and accreditation services and promotion of food certifications
such as Safe Food Quality (SQF), GlobalGAP, and British Retail Consortium
(BRC). Canada is the second-largest food certification market in this region.
The stringency of food safety and import-export regulations imposed by the
Canadian government are driving the market in the country.
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Created on Apr 24th 2020 08:21. Viewed 155 times.