Market Research Of Global Food Irradiation Market By Knowledge Sourcing Intelligence
INTRODUCTION
Global Food
Irradiation market is projected to expand at a CAGR of 4.10% over the forecast
period to reach a total market size of US$165.571 million by 2021. The major
factors driving the demand for irradiated food are increasing concerns over
food-borne diseases and food losses due to contamination, infestation, and
spoilage. This market is attracting several major companies as irradiation
increases the shelf life of the product.
However, irradiation adds another step
in the supply chain, increasing the product’s total cost of production. The high average cost of irradiated food products and misconceptions amongst consumers
regarding irradiated food products will inhibit its growth over the forecast
period. Market Research is done by
the knowledge sourcing industry due to the huge scope with the respective
industry.
Sample view of Global food irradiation market share
Food Irradiation Market Forecast
by Geography
Geographically, global Food
Irradiation market has been segmented as North America, South America, Europe, The Middle East and Africa, and Asia-Pacific. North America will dominate the
global food irradiation market owing to the high acceptance and government
approval to the use of this technology and irradiated food products in countries
such as the U.S. and Canada. The adoption of phytosanitary irradiation
programs in countries like Mexico further contributes to the dominance of North
America Food Irradiation market. According to the USDA (U.S. Department of
Agriculture), the U.S., the largest market for Mexican irradiated food produce
imported 20 million pounds of irradiated produce from the country in
2015. APAC will also witness a considerable regional market growth during
the projected period owing to booming demand for ready-to-eat and ready-to-make
food products, frozen food products, and fresh fruits and
vegetables. Supportive projects and investments to use food irradiation
technology will also bolster the growth of the APAC Food Irradiation market in the
coming years. In April 2017, Fiji proposed the technical cooperation (TE)
project to support food irradiation for the period of
2018-19.
Sample view of Global food irradiation market share
U.S.
U.S. Food
Irradiation market is projected to grow at a CAGR of X.XX%, rising from
US$ XX.XX million in 2017 to US$ XX.XX million in 2023. High demand for fresh
on-the-shelf food products is augmenting the demand for food irradiation
technology in the country to extend the shelf-life of food by reducing or
eliminating harmful bacteria and microorganisms. The FDA’s (Food and Drug Administration)
approval to food irradiation as the ‘food additive’ is another major
market driver of food irradiation such that the imports of irradiated food in
the country are also significantly rising. Australia exported
irradiated lychees to the U.S. in December 2016. In February 2017,
Michigan-based distributer and marketer of fresh fruits and vegetables North
Bay Produce started importing fresh irradiated and the USDA-APHIS (Animal and
Plant Health Inspection Service) approved figs and pomegranates from Peru. The
FDA has approved a variety of foods such as lettuce and spinach, beef and pork,
shell eggs, and crustaceans for irradiation in the U.S.
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