Food Certification Market : Macroeconomic Factors to Create Positive Impact on the Industry Growth and Its Potential : TMR

Albany, NY -- (SBWire) -- 02/18/2019 --A report published by Transparency Market Research on the global market for food certification states that it would expand at a steady 5.3% CAGR from 2015 to 2021. Rising at this pace, the food certification market which was valued at US$11.25 bn in 2015, will likely reach a valuation of US$16.06 bn by 2023-end, states the report.

Food certification finds application in poultry products and processed meat, infant food products, dairy products, organic food, beverages, and others such as bakery and packaged foods. Of them, the segment of packaged food accounted for a leading 23.4% share in the market in 2014. Geographically, the leading region in the market for food certification is Europe. This is because of a large tribe of discerning consumers in the region who are very particular about the food they consume. The comparatively higher standards of living in the European nations is also serving to drive the market in the region. As per our report, the market for food certification in Europe is expected to reach a valuation of US$5.77 by 2021-end.

Request For Report Brochure For Latest Industry Insights @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=6331

Food certification is a process that can be applied to any stage of the food supply chain, right from primary production level to sales. Rising incidences of foodborne illness due to ingestion of contaminated food products is one of the key factors responsible for growing popularity of food certification. Food manufacturers are keen to obtain certification in order to attract consumers toward their products. Manufacturers also emphasize on certification to cope with rising competition globally. Furthermore, certified food products are perceived to be safe and secure as they pass through various verification processes. Consumers prefer to opt for certified food products to avoid unwanted health hazards caused due to consumption of contaminated food products.

Rise in number of food trade practices and food export is fueling the food certification market. Food products without proper certification are not considered for sale in certain countries. Food manufacturers aggressively focus on proper certification through audit and quality check to aid business expansion. Furthermore, audit and follow-up processes through various certification bodies ensure that the company has proper safety management systems.

Food Borne Diseases Lead to Demand in Food Certification Market

Many factors are providing tailwinds to the market for food certification worldwide. One of those is the rising instances of food borne diseases. Awareness about the same has fuelled the demand for certified products that have passed stringent tests ensuring its quality. Besides, rising brand consciousness among consumers whose disposable incomes are rising by the day has also proved beneficial for the food certification market. They are now keener on certified organic food, poultry, fresh food, and meat products.

Obtain Report Details @ https://www.transparencymarketresearch.com/food-certification-market.html

High Cost of Certifications Deter Demand

Providing headwinds to the food certification market worldwide, on the other hand, is the high price of international certifications which has prevented several processing units and food manufacturers to avoid food certification. Explains the lead analyst of our report, "Deep-pocketed, big companies are typically inclined to spend on expensive food certification logos, namely Halal or Organic. This adds to their brand value. But not so with smaller companies for whom obtaining such labels is an expensive proposition that increases costs."

Notwithstanding such setbacks, the market is expected to rise owing to the strict regulations mandating food certification. Savvy players are seen training their sights on the emerging economies which are relatively under-tapped so far but hold out a lot of potential.