Meat Processing Sector Raises Profuse Demand for Food Certification; Travel Restrictions Challenge Routine Audit Operations amid COVID-19 Pandemic - Future Market Insights
Tuesday, June 2, 2020 11:00 AM
DUBAI, UAE / ACCESSWIRE / June 2, 2020 / Soaring demand for food certification, particularly in organic food segment, is fueling the market growth. Rising number of food borne infections continue to augment the revenue pool of food certification market. In addition, regulatory bodies such as the United States Department of Agriculture (USDA) are implementing uptight food management norms which will bode well for market.
According to analysts of Future Market Insights (FMI), the global food certification market will follow a steady growth trail at approximately 5.7% CAGR during the forecast period (2020-2030). Further, strategic collaborations among major players will drive the growth of food certification market through 2030.
The ripple effects of COVID-19 outbreak are being observed in food certification market. The current public health crisis has restated the importance of food certification across the globe. However, auditors are facing considerable challenges with respect to travelling due to stringent lockdown measures imposed in most of the countries. Travel restrictions will continue to impede market growth till the pandemic subsides. However, some countries such as China have begun to ease the lockdown, thereby reviving the demand for food certification.
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Certification of Processed Meat Products Continues to Accelerate
Past few years have witnessed a significant rise in consumption of processed meat due to evolving consumer taste and preferences. Consequently, the demand for processed meat certification escalated as well. Further, rising number of adulteration incidents, frauds, and malpractices in processed meat industry invigorates the demand for food certification. Credibility and safety of meat is the priority of key players in the processed meat sector. Additionally, shoppers increasingly prefer certified meat merchandise thus impelling the demand for food certification.
North America to Maintain Hegemony Through 2030
Presence of established food certification companies in North America will augur well for market growth during the projection period. Extensive audits carried out by major certification bodies ensure adequate compliance of food management practices in North America. Moreover, strict regulatory norms are in favor of food certification companies thereby strengthening the market growth.
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On this premise, North America will account for a substantial revenue share in the global food certification market through 2030. On the other hand, Asia Pacific food certification market will observe impressive CAGR over the forecast period. Greater sentience among consumers is ascribed for profuse regional market growth.
The FMI study offers near and long-term growth outlook of the food certification market. Gain access to FMI's exclusive COVID-19 tracker here.
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SOURCE: Future Market Insights