The Global Food Irradiation Market is estimated to be valued at US$ 199.4 billion in 2021 and is expected to exhibit a CAGR of 5.0% over the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Food irradiation is a process that involves exposing food products to a controlled source of ionizing radiation to eliminate harmful bacteria, viruses, parasites, and insects. This process helps in preserving the quality and extending the shelf life of food. Food irradiation offers several advantages, including microbial safety, improved product quality, reduced post-harvest losses, and increased international trade by meeting phytosanitary standards.
B) Market Key Trends:
One key trend in the global food irradiation market is the increasing demand for food safety. With growing concerns about foodborne illnesses and contamination, consumers are becoming more conscious about the safety and quality of the food they consume. Food irradiation has proven to be an effective method in reducing the risk of foodborne illnesses by eliminating pathogens such as Salmonella, E. coli, and Listeria from food products. For example, in 2019, the U.S. Food and Drug Administration (FDA) approved the use of irradiation to control foodborne pathogens in fresh spinach and lettuce.
C) PEST Analysis:
- Political: The regulatory scenario plays a crucial role in the adoption of food irradiation. Government regulations regarding the approval and usage of irradiation technology may vary from country to country.
- Economic: The economic factors influencing the market include the cost-effectiveness of food irradiation compared to other food preservation methods, such as chemical treatments or refrigeration.
- Social: The increasing awareness among consumers regarding food safety and the importance of consuming safe and healthy food is driving the demand for food irradiation.
- Technological: Technological advancements in irradiation techniques, such as electron beam irradiation and X-ray irradiation, are enhancing the efficiency and effectiveness of the process.
D) Key Takeaways:
- The Global Food Irradiation Market Demand is expected to witness high growth, exhibiting a CAGR of 5.0% over the forecast period, due to increasing demand for food safety. The implementation of stringent food safety regulations by regulatory authorities across the globe is further propelling the market growth.
- North America is the fastest-growing and dominating region in the global market. The region has a well-established food safety infrastructure, and consumers have a high awareness regarding food safety regulations and the benefits of irradiated food products.
- Key players operating in the global food irradiation market include Sterigenics International, Inc., Ionisos SA., Gray Star, Inc., Reviss Services Ltd., Nordion Inc., Sadex Corporation, Steris Isomedix Services, Scantech Sciences Inc., Steri-Tek, and Symec Engineers (India) Pvt. Ltd.
In conclusion, the global food irradiation market is witnessing significant growth driven by the increasing demand for food safety. Food irradiation offers various benefits, including microbial safety and improved product quality. The market is dominated by North America, while key players are focusing on technological advancements to enhance the efficiency of irradiation techniques.
