July 12, 2024
Food Irradiation Market

Food Irradiation Market to Reach a Valuation of US$ 199.4 Billion by 2023

Market Overview:

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 of 2023-2030, as highlighted in a new report published by Coherent Market Insights. Food irradiation is a process that uses ionizing radiation to eliminate harmful bacteria, pathogens, and pests from food products, thereby extending their shelf life and ensuring food safety. This method provides numerous advantages such as improved food quality, reduced foodborne illnesses, enhanced consumer confidence, and increased trade opportunities for perishable food products. With the increasing focus on food safety and the growing demand for processed and packaged food, the food irradiation market is projected to witness significant growth in the coming years.

Market Key Trends:

One key trend observed in the food irradiation market is the adoption of irradiation technology as a sustainable solution to reduce food waste. Food waste is a major concern globally, and irradiation helps in preserving and extending the shelf life of perishable food products, thereby reducing food spoilage and waste. This technology prevents the growth of microorganisms, insects, and other pests, ensuring longer shelf life for food products. Furthermore, it eliminates the need for chemical preservatives and additives, making it a sustainable option for food preservation. These factors are driving the adoption of food irradiation techniques among food manufacturers and processors, leading to market growth.

Segment Analysis

The food irradiation market can be segmented based on application, technique, and region.

In terms of application, the market can be divided into fruits and vegetables, meat and poultry, seafood, cereals and grains, and others. Among these segments, the meat and poultry segment dominates the market. This can be attributed to the increasing demand for processed and packaged meat products, as well as the need to enhance food safety and extend shelf life. Meat and poultry products are susceptible to bacterial contamination and foodborne illnesses, which can be effectively controlled through food irradiation. Therefore, the demand for irradiation technologies is high in this segment.

Key Takeaways

The Global Food Irradiation Market Size is expected to witness high growth, exhibiting a CAGR of 5.0% over the forecast period of 2023-2030. This growth can be attributed to the increasing concerns related to food safety and the need for extending the shelf life of perishable food products. Additionally, the growing demand for processed and packaged food products, especially in emerging economies, is driving the market growth.

In terms of regional analysis, North America is the fastest-growing and dominating region in the food irradiation market. This can be attributed to the stringent government regulations and standards regarding food safety in the region. Moreover, the presence of key players in this region, along with their focus on research and development activities, contributes to the growth of the market 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 key players are focusing on strategic initiatives such as mergers and acquisitions, collaborations, and product launches to strengthen their market position and expand their customer base.

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