Valued to be $276.7 Million by 2026, Food Irradiation Trends Slated for Robust Growth Worldwide

BY PR Newswire | ECONOMIC | 11/16/21 10:26 AM EST

SAN FRANCISCO, Nov. 16, 2021 /PRNewswire/ --?A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled?"Food Irradiation Trends - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Food Irradiation Trends

Edition:?20;?Released:?November 2021
Executive Pool:?493
Companies:?27 - Players covered include Food Technology Service, Inc.; GrayStar, Inc.; Nordion (Canada), Inc.; Sadex Corporation; Scantech Sciences, Inc.; Tecleor LLC and Others.
Coverage:?All major geographies and key segments
Segments:?Source (Gamma Radiation, X-Ray Radiation, Electron Beam Radiation)
Geographies:?World; United States; Canada; Japan; China; Europe ; Asia-Pacific; Rest of World.

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Global Food Irradiation Trends Market to Reach US$276.7 Million by the Year 2026
The food irradiation process removes microorganisms and bacteria that cause food poisoning and other diseases. Food irradiation harnesses X-rays, gamma rays, or electron beams to destroy bacteria without affecting the produce. Superior food quality and safety could be ensured by utilizing irradiation in conjunction with standard food safety procedures such as washing, packaging, chemical or heat treatments, and freezing or refrigeration. Increasing propensity to food irradiation due to high acceptance among modern consumers is a primary driver boosting growth of the global market. Rise in consumer awareness of food-borne disease prevention is another driver projected to boost the market's growth. Another major factor boosting growth is the benefits provided by food irradiation technology including the elimination of pathogenic microorganisms, increased shelf life, minimum use of chemical disinfestation, decontamination and process safety. The level of irradiated food acceptance varies based on the type of products that are permitted for irradiation in different regions in the world. The most commonly irradiated food products around the world include spices, herbs and dry seasonings.

Amid the COVID-19 crisis, the global market for Food Irradiation Trends estimated at US$220 Million in the year 2020, is projected to reach a revised size of US$276.7 Million by 2026, growing at a CAGR of 3.8% over the analysis period. Gamma Radiation, one of the segments analyzed in the report, is projected to grow at a 3.5% CAGR to reach US$145.8 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the X-Ray Radiation segment is readjusted to a revised 4% CAGR for the next 7-year period. This segment currently accounts for a 27.8% share of the global Food Irradiation Trends market. X-rays for food sterilization applications are generated by electron beam accelerators through the collision of high-energy electrons with high atomic number atoms like tungsten and tantalum. X-rays hold higher penetration capability in comparison to electron beams and gamma rays for food sterilization applications.

The U.S. Market is Estimated at $69.9 Million in 2021, While China is Forecast to Reach $132.8 Million by 2026
The Food Irradiation Trends market in the U.S. is estimated at US$69.9 Million in the year 2021. The country currently accounts for a 30.5% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$132.8 Million in the year 2026 trailing a CAGR of 4.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.9% CAGR while Rest of European market (as defined in the study) will reach US$138.1 Million by the end of the analysis period. Asia-Pacific region leads the market, driven by factors such as growing consumer acceptance and government regulations on irradiated food consumption in many countries across the region. Growth in North American market is steered by growing consumer awareness of food irradiation's importance and the rising adoption of emerging technologies in the region.

Electron Beam Radiation Segment to Reach $57.2 Million by 2026
E-Beams (electron beams) are high energy electrons that are streamed into the food from an electron accelerator. Electron beams lack the penetrating capacity of x rays and gamma rays which is why their use is restricted to the treatment of powders and grains. In the global Electron Beam Radiation segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$38.8 Million in the year 2020 will reach a projected size of US$52.6 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.8 Million by the year 2026. More

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