Global Food Certification Market
Global Food Certification Market was valued US$ 56.27 Bn in 2018 and is expected to reach 96.5 Bn by 2026, at a CAGR of 8.01 % during a forecast period.
Global Food Certification Market: OverviewFood certification supports in achieving consumer belief regarding food safety and quality. The Certificate addresses agreement to food safety and quality parameters of food, packaging, packaging materials, and storage & distribution for key producers, manufacturers, and distributors. Factors such as growing consumer awareness about certified food products, increasing demand for processed meat products certification, and expanding prevalence of foodborne illness are projected to drive the growth of market in food certification during the forecast period.The food certification market is primarily driven by the strong food safety regulations executed by the governments across the North American countries for imported goods owing to the growth of market share of food certificate in forecast period.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.Global Food Certification Market: Drivers and RestraintsDeveloping international trade joined with increasing food safety regulations, has been driving the demand for food certifications market. The increasing frequency of foodborne illness is predictable to drive the growth of the food certification market during the forecast period.Increasing consumer awareness about certified food products has expressively increased the demand in market share of food certificate. This has directed to the voluntary acceptance of certification programs by food manufacturers to increase consumer trust.On the other hand, the unpredictability in prices of raw material will restrict growth of market of Food Certificate. Further the government will decline the investment in the existing technologies and will capitalize on advanced technologies for raising the demand in the forecast period.Global Food Certification Market: Segment AnalysisOn the basis of application, the meat, poultry, and seafood products segment is anticipated to lead the food certification market during the forecast period. A certification system is mandatory for the entire value chain of meat, poultry, and seafood products-from processors to distributors, exporters, and merchants. Growing meat product recalls across various countries are driving the demand for food certifications such as meat, poultry, and seafood products.Global Food Certification Market: Regional AnalysisThe North American region is estimated to grow at the highest CAGR (XX %) during the forecast period of food certificate market. The food certification market is mostly driven by the strong food safety regulations forced by the governments across the North American countries for imported goods. The US is the largest country-wise market for food certification in the North American region, and mainly driven by the factors such as enterprises taken by the US government affecting to certification,endorsement services and advancement of food certifications like Safe Food Quality (SQF), GlobalGAP, and British Retail Consortium (BRC). The inflexibility of food safety and import-export regulations enforced by the Canadian government are driving the market in the North America region.The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global Food Certification market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global Food Certification market.
