During the projected period (2022 to 2032), the global food irradiation equipment market is expected to grow at a CAGR of 3.8%. The food irradiation equipment market is projected to grow from US$ 13,800 Million in 2022 to US$ 20,037.9 Million by the end of 2033.
Rising consumer acceptance for food irradiation is anticipated to push the global food irradiation equipment market in the next ten years. The U.S. Food and Drug Administration (FDA), for instance, recently approved irradiation of fresh fruits and vegetables as a phytosanitary treatment. The U.S. FDA has also suggested that the food irradiation process is effective and safe in offering protection against spoilage of vegetables and fruits.
Besides, rising concerns regarding high food losses from spoilage, contamination, and infection is another crucial factor that is projected to drive the global food irradiation equipment market in the assessment period. Increasing prevalence of various food-borne diseases is also expected to augur well for the global market.
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Foodborne illnesses are primarily toxic and infectious in nature. These are caused due to chemical substances, parasites, viruses, or bacteria entering the body through contaminated food. Thus, government agencies in various countries are investing huge sums to set up food disinfection units to keep up with the surging demand for safe food & beverages.
Key Takeaways from the Food Irradiation Equipment Market Study:
- The global food irradiation equipment market witnessed steady growth at a CAGR of 8% during the historical period from 2018 to 2022.
- The North America food irradiation equipment market is expected to register a 8% CAGR between 2023 and 2033.
- The China food irradiation equipment market is projected to grow at a CAGR of around 9% over the next ten years.
- The Europe food irradiation equipment market is expected to grow at a 6% CAGR between 2023 and 2033.
- The global food irradiation market is expected to witness a CAGR of 8% in the forecast period.
“Rising propensity to food irradiation on the back of high acceptance among modern consumers is estimated to drive the market. Besides, increasing awareness among consumers regarding food-borne disease prevention is expected to bolster the market,” says a lead analyst at Future Market Insights.
Competitive Landscape: Food Irradiation Equipment Market
Some of the leading companies present in the global food irradiation equipment market are Food Technology Service Inc., Sterigenics International Inc., Gray Star Inc., Ionisos SA, and Nordion Inc. among others.
North America currently holds the largest market share, and this region is expected to continue to expand during the projection period. This can mainly be attributed to the region’s growing population and rising disposable income levels of consumers. Furthermore, the North America irradiation equipment market is expected to increase in the next ten years due to the presence of a favorable legal and regulatory environment.
Get Valuable Insights into Food Irradiation Equipment
FMI, in its new offering, provides an unbiased analysis of the food Irradiation equipment market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for food irradiation equipment based on source (gamma radiation, x-ray radiation, electron beam radiation), by technology (ultra-high pressure, steam pasteurization, food coating, ozone treatment), by end-user (food processing industries, food packaging industries) across five major regions.
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Food Irradiation Equipment Market Outlook by Category
By Source:
- Gamma Radiation
- X-Ray Radiation
- Electron Beam Radiation
By Technology:
- Ultra High Pressure
- Steam Pasteurization
- Food Coating
- Ozone Treatment
By End User:
- Food Processing Industries
- Food Packaging Industries
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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