Food Irradiation Market

Food Irradiation Market Is Estimated To Witness High Growth Owing To Increasing Demand for Food Safety

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The Global Food Irradiation Market is estimated to be valued at US$ 199.4 billion in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Food irradiation refers to the process of exposing food to ionizing radiation to eliminate harmful bacteria, insects, and other pathogens. This process helps in extending the shelf life of food products, reducing the risk of foodborne illnesses, and maintaining nutritional quality. The demand for food irradiation is increasing due to the growing concerns regarding food safety and the need to prevent foodborne diseases. The advantages of food irradiation include improved food quality, increased shelf life, and reduced post-harvest losses.

Market Key Trends:

One of the key trends driving the food irradiation market is the stringent regulations and guidelines imposed by regulatory authorities regarding food safety. Governments around the world are implementing strict food safety measures to prevent foodborne illnesses and ensure the quality of food products. Food irradiation is considered an effective and safe method for ensuring food safety, as it eliminates harmful pathogens without affecting the organoleptic properties of the food. The increasing adoption of food irradiation by food manufacturers and processors to comply with these regulations is expected to drive market growth.

PEST Analysis:

Political: The political factors affecting the food irradiation market involve regulations and government policies regarding food safety and preservation. Governments worldwide have implemented strict regulations on food irradiation to ensure the elimination of harmful pathogens and pests. These regulations aim to protect public health and maintain quality standards in the food industry.

Economic: The economic factors influencing the food irradiation market include the cost of irradiation technologies, affordability of irradiated foods, and economic stability. Food irradiation technologies require significant investment and operational costs, which affect the pricing of irradiated food products. The economic stability and purchasing power of consumers also impact their willingness to buy irradiated foods.

Social: Social factors influencing the food irradiation market include consumer perception and acceptance of irradiated foods. Public awareness about food safety and the benefits of irradiation can influence consumer preferences. Education campaigns and initiatives to familiarize consumers with the process and benefits of food irradiation are essential for fostering acceptance and increasing market demand.

Technological: Technological factors impacting the food irradiation market involve advancements in irradiation technologies and equipment. Continuous innovations in the field aim to enhance the efficiency and effectiveness of the irradiation process, minimize energy consumption, and reduce the overall cost. Technological advancements also focus on developing sustainable and eco-friendly irradiation methods.

Key Takeaways:

The Global Food Irradiation Market Size is expected to witness high growth, exhibiting a CAGR of 5.0% over the forecast period (2023-2030). The market size for 2023 was estimated at US$ 199.4 billion.

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the food irradiation market. The region has stringent regulations for food safety and a well-established infrastructure for irradiation facilities. Additionally, increasing consumer awareness and demand for processed and safe food products are driving market growth in North America.

Key players operating in the 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. These companies play a crucial role in providing irradiation services and technologies to meet the growing demand for safe and preserved food products.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it