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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