The food authenticity market is projected to grow at a CAGR of 7.6% from 2016 to 2022. This market is driven by implementation of stringent regulations in developed countries, increasing incidences of false labelling & certification, and growing international trade have increased the demand for food authenticity. Food frauds around the world have generated the need for implementation of stringent food safety regulations around the world.
The key market players have adopted strategies such as expansions & investments, new service launches, acquisitions, agreements, collaborations, partnerships, and new technology launches of business operations to meet the growing demand for food authenticity.
SGS SA (Switzerland), Intertek Group plc (U.K.), Eurofins Scientific (Luxembourg), ALS Limited (Australia), LGC Science Group Ltd (U.K.) are the major players. The other players who are active in the industry are Mérieux NutriSciences Corporation (U.S.), Microbac Laboratories Inc. (U.S.), EMSL Analytical Inc. (U.S.), Romer Labs Diagnostic GmbH (Austria), and Genetic ID NA, Inc. (U.S.).
Eurofins Scientific (Luxembourg) is one of the leading food authenticity service providers due to its strong global presence and service infrastructure. The company focused on increasing its geographic presence through acquisitions and expansions between 2011 and 2016. In June 2015, Eurofins Scientific launched a new DNA chip technology analytical method, which would simultaneously detect and identify 21 animal species in feed and food products. In May 2014, Eurofins Scientific acquired ViraCor-IBT Laboratories, Inc. (U.S.). VIBT provided biological and large molecular biomarker support, and its testing facility included quantitative and qualitative PCR, DNA sequencing, ELISA, and other immunoassay platforms.
Intertek Group plc (U.K.) is one of the leading food authenticity service providers due to its strong global presence and service infrastructure. In July 2016, Intertek developed new technology for honey authenticity testing. The technology is based on NMR (Nuclear Magnetic Resonance) spectroscopy. In May 2016, Intertek launched its AgriTech laboratory at Hyderabad (India) to perform DNA-based testing of various agricultural products. The company introduced its advanced ScanBi DNA testing technology in India with this expansion.
Food Authenticity Market by Target Testing (Meat Speciation, Country of Origin & Ageing, Adulteration & False Labeling), Technology (PCR-Based, LC-MS/MS, Isotope), Food Tested (Meat, Dairy, Processed Foods), and Region - Global Forecast to 2022
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