The global demand for food certification is expected to reach new heights in the coming years. The concerns of the masses towards adulteration of food has increased the role of certification authorities. Packaged food has gained popularity in recent times, and a large population of people depends on it for their daily intake. Moreover, the use of packaged food in the restaurant business has also gathered momentum in recent times. Therefore, certification of food being sold in the marketplace has become a prerequisite to safer practices. It is expected that the global food certification market would grow at a stellar CAGR in the years to follow.
The next decade would be crucial to the growth of the global food certification market. The focus of government authorities on ensuring food safety across their administrative territories has aided market growth. The World Health Organization (WHO) has also emphasized on the importance of using food certification for a healthier and hygienic food industry.
Transparency Market Research (TMR) finds that the global food certification market would expand at a robust CAGR of 5.3% over the period between 2015 and 2024. The total volume of revenues in the global food certification market is expected to touch US$16.09 Bn by the end of 2024. The use of food certification trademarks on bottles of beverages and packaged food items has played a pivotal role in market growth.
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Rice Exporters Under the Radar of Scrutiny
The Export Inspection Council (EIC) in India made it mandatory for rice exporters to get food certifications prior to exports. This move has come as a welcome step for the global food certification market. Furthermore, India is amongst the largest exporters of food, and the new move shall have global implications. The total volume of revenues in the food certification market shall rise alongside tightening of measures to ensure food safety.
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National-Level Initiatives for Food Safety
Several countries have their distinct food certification authorities, and this is a key consideration from the perspective of market growth. In recent times, central governments have addressed the issue of food safety with a high level of scrutiny. Furthermore, the incidence of disease and death due to unhygienic food packaging has increased the concerns of the masses. Therefore, the total volume of revenues in the global food certification market is expected to reach new heights in the years to come. Food certification gives a level of confidence to the masses, and this has led food manufacturers take certification authorities very seriously. The sale of food products is directly proportional to the level of quality that is assured to the masses.
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Some of the key players in the global food certification market are SGS SA, Underwriters Laboratories Inc., Dekra SE, and ALS Limited.
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