Global TIC Market for Food & Beverage Industry is Anticipated to grow at a Significant Pace and was USD 16 Billion in 2020

Published Date: Sep, 2021

The TIC market for the food & beverage industry is expected to witness a CAGR of 9% during the forecast period. TIC services help improve the standards of the manufacturing process by conducting tests, inspections, and certifications in accordance with regulations around the world. This will help in the production of quality, safe, and reliable products/components in the food & beverage industry. The factor driving the growth of the TIC market in the food & beverage industry is globalization which has provided standardization of products and goods that are used in the food & beverage industry. Moreover, rapid urbanization, mandatory safety regulations, advancement in networking and communication technology, digitalization, need to have credibility and image, reduced turnover of employees, increased level of cost control improvement, and rapid improvement of various processes will fuel the growth of TIC in the food & beverage industry. Nevertheless, the mounting awareness among consumers regarding food safety will provide promising opportunities for the growth of the TIC market in the food & beverage industry.

The COVID-19 outbreak has affected food operations globally due to negative advertisements on social media about health risks associated with eating animal products. This has resulted in driving the demand for plant-origin food certifications.  

The launch of Lloyd’s Register Courses in 22000 V5 certification was approved by FSSC. The Global Food Safety Initiative (GFSI) recognized Scheme, FSSC 22000 V5 certification, assists firms in integrating their food safety management system with other management systems.

Browse 53 market data Tables and 35 Figures spread through 250 Pages and in-depth TOC on " TIC Market for Food & Beverage Industry by Sourcing Type (In-House and Outsourced), by Service Type (Testing, Inspection, and Certification), by End-Use Industry (Convenience Food Solutions, Dairy Solutions, Animal Feed & Pet Food Solutions, Fruits and Vegetable Solutions, Honey Solutions, Meat & Seafood Solutions, and Others), and Region - Global Forecast to 2027"

By service type, the testing segment dominates the TIC market for the food & beverage industry in 2020.

Based on service type, the TIC market for the food & beverage industry is segmented into testing, inspection, and certification. Food testing is important for the effective production of quality and safe products. Testing is done in compliance with food safety regulations and to protect public health, so the food & beverage industry is always under scrutiny. Testing includes analytical testing to evaluate nutraceuticals or supplements, botanicals, and natural products to ensure quality and compliance with standards. There are various testing done in the food & beverage industry such as chemical &nutritional testing, allergen testing, microbiology testing, food shelf life testing, food packaging testing, meat species testing, etc.

Global TIC Market for Food & Beverage Industry Segmentation Analysis

Segment

Categorization

Leading Category

Sourcing Type

In-House and Outsourced

In-House (Largest)

Service Type

Testing, Inspection, and Certification

Testing (Largest)

 Industry Vertical

Convenience Food Solutions, Dairy Solutions, Animal Feed & Pet Food Solutions, Fruits and Vegetable Solutions, Honey Solutions, Meat & Seafood Solutions, and Others

Convenience Food Solutions (Fastest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Asia-Pacific (High CAGR)

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“North America is projected to hold the largest regional market share in the TIC market for food & beverage industry.”

North America is anticipated to have the largest share in the TIC market for the food & beverage industry owing to the existence of major TIC players, increased adoption of TIC services in different industry verticals like food &beverage, healthcare, automotive, etc., growing demand for organic and processed foods, early adopters of new technologies, rising investments in technological development, and mandatory government regulations on food and drone testing, resulting in the growth of TIC market for food &beverage industry in the region.

Some of the key players operating in the TIC market in the food & beverage industry: Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins USA, TUV Rheinland, Lloyd Register Group Limited, DEKRA SE, Applus+, and DNV GL.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Sourcing Type, Service Type, End-Use Industry, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Intertek Group plc, Bureau Veritas, UL LLC, SGS SA, Eurofins USA, TUV Rheinland, Lloyd Register Group Limited, DEKRA SE, Applus+, and DNV GL

Global TIC Market for Food & Beverage Industry- Market Coverage

Sourcing Type Insight and Forecast 2015-2027

  • In-House
  • Outsourced

Service Type Insight and Forecast 2015-2027

  • Testing
  • Inspection
  • Certification

Industry Vertical Insight and Forecast 2015-2027

  • Convenience Food Solutions
  • Dairy Solutions
  • Animal Feed & Pet Food Solutions
  • Fruits and Vegetable Solution
  • Honey Solutions
  • Meat & Seafood Solutions
  • Others

Geographical Segmentation

TIC Market for Food & Beverage Industry by Region

North America

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – U.S., Canada, and Mexico

Europe

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Sourcing Type
  • By Service Type
  • By Industry Vertical
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global TIC Market for Food & Beverage Industry is Anticipated to grow at a Significant Pace and was USD 16 Billion in 2020