DUBLIN, Oct. 7, 2022 /PRNewswire/ -- The "Food Certification Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The food certification market is evaluated at US$13.544 billion for the year 2020, growing at a CAGR of 6.9% reaching a market size of US$21.684 billion by the year 2027.
The growing consumption of food production globally may be attributed to the fact that the growing global population and growing food exports are significantly contributing to the positive market growth during the next five years. Stringent government regulations regarding the consumption of healthy food and the presence of strict standards in the food applications segment are also positively driving the food certification market during the coming five years.
The growing number of cases related to foodborne diseases further increases the burden on food-producing companies to make food safer and cleaner for human consumption. This, in turn, is further propelling the business growth opportunities for the market players over the forecast period.
Growing concerns regarding food safety
One of the key factors supplementing the food certification market growth includes growing concerns regarding food safety by governments and food companies around the globe. Since the WHO considers the promotion of good health by making sufficient amounts of safe and nutritious food to the people. As per the organization, more than 200 diseases can be caused by unsafe food containing harmful bacteria, viruses, parasites, or chemical substances.
Moreover, one out of ten people fall ill due to the consumption of contaminated food and almost 420,000 people die every year. Thus, food certification plays a key role in ensuring the safety and cleanliness of the food, which in turn plays a major role in bolstering the food certification market growth during the forecast period.
Halal certification is expected to see rapid growth. By certification type, the halal certification segment is anticipated to witness significant growth during the forecast period. The demand for halal-certified food is increasing which is further providing an impetus for the significant growth of this segment. Moreover, strict certifications regarding the import of halal meats, especially in the Middle Eastern region, will further support the market growth during the coming years.
The kosher certification segment is also expected to grow at a significant pace due to the growing acceptance of kosher food in many parts of the world. Additionally, the growing production of kosher food, particularly in the Middle East and African regions, is also bolstering the market growth of this segment until the end of the forecast period. For instance, in May 2017, along with Israel, the UAE also joined the Orthodox Union and permitted the production of kosher food in the country.
Europe to hold a prominent share in the market
Geographically, the European region is anticipated to hold a significant share in the market owing to the presence of regulations and standards in various food application segments. These regulations and standards apply to various food application segments. The Asia-Pacific region is anticipated to witness substantial growth due to increased demand for certified food products.
Key Developments in the Market:
In January 2021, Bureau Veritas, global leading testing, inspection, and certification provider, announced the acquisition of the Toronto-based food auditing business of Orion Assessment Services International Inc, Canadian food certification services provider. The Orion food safety business complemented Bureau Veritas' US food auditing position to provide a comprehensive solution for North American food manufacturers through this acquisition.
In March 2021, PFMA (The Pet Food Manufacturers Association) launched a raw food certification program to become a "world-leading program for best practice raw pet food production." The PFMA's 17 commercial raw food members, who account for 80 percent of the UK's raw pet food market, inspired the raw food certification scheme.
In March 2022, The Paleo Diet, LLC, and WCFC (Where Food Comes From, Inc.), North America's most authorized resource for independent, third-party verification of food production practices, announced a collaboration to deliver an industry-leading food certification for the former. WFCF has acquiesced to be the exclusive third-party verifier of The Paleo Diet food certification program as part of this collaboration.
By Certification Type
By Food Type
Meat and Poultry
Bakery and Confectionery
Middle East and Africa
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. Food Certification Market, by Certification Type
6. Food Certification Market, by Food Type
7. Food Certification Market, by Geography
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
Intertek Group plc
The British Standards Institution
TQ Cert Services Pvt. Limited
For more information about this report visit https://www.researchandmarkets.com/r/p9y2t0
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SOURCE Research and Markets