The Food Irradiation Market is estimated to be valued at US$ 219.84 Bn or Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Food irradiation is a process that uses ionizing radiation like gamma rays, X-rays, and electron beams to eliminate microorganisms, bacteria, viruses, and insects that cause food spoilage and diseases. It is widely used to sterilize spices, meat, fruit, and vegetables and extend their shelf life without changing their nutritional value or taste. The rising demand for fresh and preserved food items due to changing lifestyles has boosted the adoption of food irradiation technologies globally. It is considered an effective alternative to chemical food preservatives and fumigation as it does not leave any radioactive residue.
Market Dynamics:
Surging demand for fresh and convenient food coupled with growing international food trade is a key factor driving the growth of the global food irradiation market. Increased consumer health awareness regarding food-borne diseases and stringent government policies mandating industrial processors to ensure food safety throughout the supply chain are further fueling the industry expansion. Additionally, rising research into optimizing radiation doses to eliminate pathogens while limiting nutritional and sensory changes in perishables without compromising on quality and taste is creating new opportunities for market players. However, some critics argue that food irradiation may reduce vitamin and mineral levels in foods along with producing harmful radiolytic byproducts, acting as a restraint.
Segment Analysis
The food irradiation market is segmented into food type and technology. Based on food type, fruits and vegetables together account for the largest market share as they are highly perishable in nature. Fruits and vegetables are dominating the segment due to increasing demand for fresh foods throughout the year along with rising consumer preference for ready-to-eat packaged fruits and vegetables.
PEST Analysis
Political: International bodies like WHO and IAEA support food irradiation to ensure food safety. Many countries have approved the use of food irradiation to kill foodborne pathogens and extend shelf life.
Economic: Growing food trade and rising global population is generating demand for food preservation methods like irradiation. Developing nations are increasingly adopting modern food technologies to boost agricultural exports.
Social: Rising health awareness is driving consumer demand for fresh and hygienic food. Younger demographic prefers transparent labeling and favors brands ensuring food safety through advanced processing.
Technological: Advancements in irradiation technology allows more efficient and cost-effective treatment of larger volumes and complex packaged foods. Automation and robotics are making irradiation application more streamlined.
Key Takeaways
The Global Food Irradiation Market Size is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing consumer demand for fresh and preserved foods throughout the year. The market size for 2023 is estimated at US$ 219.84 Bn.
Regionally, Asia Pacific dominates the market and is projected to be the fastest growing region during the forecast period. Countries like China, India, Japan and South Korea are major contributors to regional market growth due to rising agricultural exports and large population base demanding food safety and preservation.
Key players operating in the food irradiation market are 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 players are focusing on capacity expansion and new product launches to consolidate their market share.
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