The food Irradiation market is projected to grow at a CAGR of 3.23% to reach US$164.601 million by 2026, from US$131.723 million in 2019.
Nowadays, Food irradiation technology is widely used with an aim to improve food safety and shelf life. The methodology helps in minimizing or completely removing insects as well as microorganisms. While performing food irradiation, the food is essentially exposed to ionizing radiation with an aim to disinfect, sterilize and secure food. The rays can be gamma rays, X-rays, and electron beams. The food is exposed without establishing direct contact. It further helps in reducing the risk of illness.
Many studies have been performed by The U.S. Food and Drug Administration (FDA), the World Health Organization (WHO), the Centers for Disease Control and Prevention (CDC), and the U.S. Department of Agriculture(USDA) over the safety of food irradiation. These studies have confirmed food irradiation as a safe methodology.
food irradiation market, US$ million, 2019 to 2026
Source: Knowledge Sourcing Intelligence Analysis
A major reason for the growth of this market is the rise in awareness among netizens across the globe
The rising awareness and concern among the consumers is the key factor driving the growth of the food irradiation market. People are increasingly showing concern over food safety. Moreover, people nowadays are becoming more health-conscious and have become choosy in their food habits. With rising awareness and health consciousness among the netizens, the food irradiation market is expected to bolster. In addition, an increase in the demand for meat and poultry farm products is also expected to propel the market demand.
The increase in foodborne diseases is expected to drive the demand for this market in the forecast period.
The world has been increasingly exposed to growing foodborne diseases. The outbreak of such diseases is expected to augment the market growth in the forthcoming years. According to the World Health Organization, more than 200 diseases are caused by consuming food contaminated with bacteria or parasites. One in every ten people worldwide falls ill from contaminated food each year that is approximately 600 million cases of foodborne diseases. Moreover, nearly 4,20,000 people die every year due to the surge of these foodborne diseases.
The growth in the government's encouragement to use food irradiation solutions is anticipated to fuel the growth of this market.
The government is encouraging the use of food irradiation techniques across the globe. For instance, The United States Food and Drug Administration has shown a green flag for the irradiation of vegetables, fruits, beef, wheat, shellfish, spices, seeds, and poultry. These supportive government measures are anticipated to drive the global demand for food irradiation.
The key restraints impeding the growth of the food irradiation market
One of the key restraints that are anticipated to hinder the market growth for food irradiation technology is the rising misconception among the people about the technology used. Moreover, the global market is witnessing a lack of irradiation technology as it adds up to the cost that has made manufacturers reluctant to use it. In addition, irradiated food often costs more to the consumers, thereby reducing the demand.
The rise in competition is anticipated to augment the market growth
Some of the prominent market players include GRAY STAR, Inc., SADEX Corporation, Food Technology Service, BENEBION, ScanTech Sciences, etc. These players are constantly working over bringing in new technology and thus maintaining a competitive edge over the market. The growing competition is anticipated to propel market growth.
The surge of novel coronavirus has severely affected almost every aspect of life. The outbreak of the virus has disrupted the functioning of the global market and hence has brought several changes in the economic conditions. The food irradiation market is not as badly impacted as other industries. Due to the imposition of lockdown, people are working from home and thus consuming more. This has created the demand for food irradiation technology.
|Market size value in 2019||US$131.723 million|
|Market size value in 2026||US$164.601 million|
|Growth Rate||CAGR of 3.23% from 2019 to 2026|
|Forecast Unit (Value)||USD Million|
|Segments covered||Type of Radiation, Application, And Geography|
|Regions covered||USA, China, Netherland, Belgium, Brazil, Australia, Vietnam, South Africa, Ukraine, Others|
|Companies covered||GRAY STAR, Inc., Nordion (Canada) Inc., SADEX Corporation, Food Technology Service, Inc., STERIS Corporation, IONISOS, BENEBION, Sterigenics International LLC, ScanTech Sciences, Steri-Tek|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global food Irradiation market?
A1. Food Irradiation Market was valued at US$131.723 million in the year 2019.
Q2. What will be the food Irradiation market size by 2026?
A2. The food Irradiation market is projected to reach a market size of US$164.601 million by 2026.
Q3. What are the growth prospects for the food Irradiation market?
A3. The global food Irradiation market is projected to grow at a CAGR of 3.23% over the forecast period.
Q4. What factors are anticipated to drive the food Irradiation market growth?
A4. The rising awareness and concern among the consumers is the key factor driving the growth of the food irradiation market.
Q5. Who are the major players in the food Irradiation market?
A5. Prominent key market players in the food Irradiation market include GRAY STAR, Inc., SADEX Corporation, Food Technology Service, BENEBION, ScanTech Sciences, etc.
GRAY STAR, Inc.
Nordion (Canada) Inc.
Food Technology Service, Inc.
Sterigenics International LLC
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