The global TIC market for the food & beverage industry is anticipated to grow at a CAGR of 4.5% during the forecast period 2021-2027. Testing, inspection, and certification play the most crucial role in providing food safety and quality standards. The TIC market is presently witnessing growth owing to the embracement of the developed technologies in the food industry and the advent of new and innovative solutions like virtual inspection, visual inspection, and remote auditing to handle the COVID-19 pandemic. The TIC services help organizations to provide enhanced productivity, mitigate risk, and offer quality, safety, and comply with global standards about products and services.

A quality management system in the food industry is required for business survival and business growth in the long run. Quality audits and TIC are increasingly adopted in the food industry so as to evaluate management systems, attain certifications regarding food safety and quality standards, evaluate conditions on-premises and products, provide legal compliance, etc.

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Based on service type, the TIC market for food & beverage industry is categorized into testing, inspection, and certification. The testing segment dominates the market owing to the diverse product standards, mandatory regulations for food products, increasing need for enhanced safety, industrialization, and mounting need to protect brand policies. Food testing is an important part and involves analytical testing to assess nutraceuticals or supplements, botanicals, and natural products for quality and regulatory compliance.

Geographically, North America dominates the TIC market for food & beverage industry during the projected period owing to the presence of major TIC players, rising demand for organic and processed foods, high adoption of TIC services, technological development and stringent food regulations will lead to the growth of TIC market for food & beverage industry in the region.

Key players operating in the TIC market for 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.

Source: VynZ Research