FOOD INGREDIENTS STERILIZATION MARKET TO REACH VALUATION OF ~US$ 554 MN BY 2029

Food Ingredients Sterilization Market: Introduction

The latest market forecast report published by Transparency Market Research on the food ingredients sterilization market includes global industry analysis and opportunity assessment for 2019-2029. Revenue generated from the global food ingredients sterilization market has been estimated to be valued at ~US$ 367 Mn in 2019, which is projected to increase at a CAGR of ~4%, to reach ~US$ 554 Mn by 2029.

Food Ingredients Sterilization Market Driven by Increasing Incidence of Foodborne Illnesses

According to the Centers for Disease Control and Prevention (CDC) estimates, 48 million people fall sick due to the foodborne illness each year, out of which 128,000 get hospitalized and 3,000 are casualties. The diseases are termed as zoonotic diseases. By definition, zoonotic diseases get transmitted directly or indirectly between animals and humans. In the United States, 31 major pathogens caused around 9 million episodes of foodborne illness. In Europe, every year, 23 million falls ill and 5,000 people die due to foodborne illness, of which diarrheal diseases are responsible for most of the illness and casualties. The rapidly increasing incidence of foodborne diseases are thus driving the demand for food ingredients sterilization.

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Testing Requirements for Export of Food Products Fuel Market Demand for Food Ingredients Sterilization

With ease of business relations between intercontinental countries, the food sector has been flourishing, and an increase in import and export activities has been observed. The globalization of the food sector and food supply chain has increased food sterilization practices. European and North American countries are prominent importers of raw materials for food production. Since regulations of these countries are stringent, exporters from other regions are obliged to test and sterilize their food products to be able to export them. This increase in import/export activities is driving the food ingredients sterilization market.

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Increasing M&A Activities and Investments Boost Food Ingredients Sterilization Market

Considering the increased rate of urbanization and industrialization in MEA and Asian countries, big firms and companies in the food sterilization market are penetrating in these emerging sectors. The increased M&A activities have thus resulted in expansions, which are subsequently boosting the food ingredients sterilization market.

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Social and Political Pressure to Improve Food Safety and Security

Food contamination is a continuous threat in the modern food system, intimidating human health and along with it, brands, retailers, intermediaries, and entire food sectors. The business and reputational damage of food safety failures are greater than ever. Moreover, growing public scrutiny has made international and national regulators increasingly concerned about food safety issues. Consumers are demanding more information about their food to lessen their fears. Thus, active businesses should, therefore, grip food safety and use high standards of ingredients to differentiate from the competition. The growing consumer awareness and demand for high standards of food products are paving the path for food ingredients sterilization market growth.

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