Future Market Insights (FMI) presents its new, comprehensive study on the global Food Irradiation market spanning from 2020 to 2030. Researches at FMI have no left no stone unturned in bestowing readers a comprehensive view of the market, by studying the drivers, trends, challenges, and restraints. Analysts at FMI have employed in-depth analysis to offer a lucid understanding of the market and the factors shaping its growth trajectory. Ranging from macro socio-economic factors to micro geography-specific trends, the research has taken into consideration every facet that is likely to play a vital role in the growth of the market in the years to come. Presenting a plethora of valuable information, the report will serve as an effective tool, guiding the market players in making fruitful decisions in the forthcoming years.
Backed by historical data and projected data, the report breaks down the vast study into numerous geographies and end-use segments, among others to condense the research.
Impact of COVID-19 on FOOD IRRADIATION Market
The unforeseen outbreak of COVID-19 is raising concerns in the foods & beverages space, and Food Irradiation market is not independent of it either. The pandemic has caused several changes - both on the supply and demand side - which are making market players rethink their strategies in order to stay afloat. On the demand-side, consumers are opting for healthy, non-perishable foods and the trend of panic-buying has witnessed an upsurge in the early stages of the outbreak. Although this is exhibiting a dual impact on the growth, supply-side issues such as unavailability of workforce and travel restrictions are hindering smooth operations.
FMI’s report includes a dedicated section expounding both the short-term and long-term impact of the pandemic on the Food Irradiation market. The study is shaped to bolster stakeholders in making the right decisions to mitigate challenges and leverage opportunities through the pandemic.
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FOOD IRRADIATION Market: Segmentation
To simply the gargantuan study, the report is segregated on the basis of different segments.
By Source:
- Gama Radiation
- X-Ray Radiation
- Electron Beam Radiation
By Technology:
- Ultra-High Pressure
- Steam Pasteurization
- Food Coating
- Ozone Treatment
- Other Technologies
By Region:
- North America (U.S & Canada)
- Latin America (Brazil, Mexico, Argentina & Rest of Latin America)
- Europe (Germany, France, Spain, U.K, BENELUX & Rest of Europe)
- South Asia (India, Thailand, Indonesia, Malaysia & Rest of South Asia)
- East Asia (China, Japan & South Korea)
- Oceania (Australia & New Zealand)
- Middle East & Africa (GCC, Northern Africa, South Africa & Rest of MEA)
The aforementioned segments are studied with respect to each individual region, considering the region-specific trends, drivers and restraints.
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FOOD IRRADIATION Market: Competition Analysis
The study bestows valuable insights into the competitive landscape of the global FOOD IRRADIATION market, by studying numerous players, their growth strategies, and key developments. The report dwells deep and studies different facets such as product launches, production methodologies, and steps adopted by players to cut costs, among others, are expected to influence their individual standpoint. Understanding the prevailing trends and strategies on the supply-side empowers players to foster their plan of action accordingly to progress on a remunerative path. Key players covered in the research include
- Food Technology Service Inc.
- Sterigenics International Inc.
- Gray Star Inc.
- Ionisos SA
- Nordion Inc.
- Reviss Services Ltd.
Key Questions Answered in FMI’s FOOD IRRADIATION Market Report
- Which region is anticipated to hold a prominent market share over the forecast period?
- What will be the key driving factor propelling the demand for Food Irradiation during the forecast period?
- How current socio-economic trends will impact the Food Irradiation market?
- What are the growth strategies implemented by prominent players in the Food Irradiation market to maintain their foothold in the competitive landscape?
Global Food Irradiation Market was value US$ 158.65 Mn in 2019 and is expected to reach US$ 237.26 Mn by 2027 at a CAGR of 5.16% over forecast period 2020-2027.Global Food Irradiation Market Drivers and Restrains:Food irradiation is the treatment of food by a certain type of energy.
The process involves exposing the food, either packaged or in bulk, to carefully controlled amounts of ionizing radiation for a specific time to achieve certain desirable objectives.Increasing concerns over the food-borne diseases and high food losses from infection, spoilage, and contamination are some of the key factors driving the global food irradiation market.
Rising public concerns over food safety and increased demand for raw food products such as lettuce or spinach will provide ample opportunities for global food irradiation solution providers over forecast period.Restraints of the food irradiation market are lack of irradiation facilities and the reluctance of manufacturers to use this technology as it adds costs, thereby affecting the profit margin.Combinations of irradiation treatments with other preservation techniques are likely to be more commonly applied commercially to foods in the years ahead.
This is expected to create lucrative opportunities for market over forecast period.Global Food Irradiation Market Segmentation Analysis:Global Food Irradiation Market is segmented by Source of radiation, Food type and by Region.By source of radiation, Gamma radiation held highest market share in 2019 and is expected to keep its dominance over forecast period.
Gamma ray is a process in which ionizing energy, passes through the food that breaks the molecular bond and ionizes atoms.
Cobalt-60 is the most common source of gamma rays for food irradiation in commercial scale facilities as it is water insoluble and hence has little risk of environmental contamination by leakage into the water systems.By food type, Meat and Poultry type sub- segment is expected to hold highest market share over forecast period thanks to growing demand for meat and poultry products.Global Food Irradiation Market Regional Analysis:Region-wise, the Asia Pacific held highest market share in 2019 and is expected to keep its dominance over forecast period owing to increasing consumer acceptance and regulations and policies related to the consumption of irradiated food.
