Food Irradiation Trends: A Global Strategic Business Report
San Jose, CA (PRWEB) October 28, 2008
Debated widely, irradiation of food products has snowballed into major controversy over the years. Staunch opposition from consumer groups has reportedly set in an environment of fear and anxiety among consumers. The market however has not lived up its expectations, as controversies and narrowing consumer acceptance have shrunk the potential for the much-cited exponential growth. Very few countries till date have embraced this concept, while others continue to show reluctance amid various controversies.
World food irradiation technology is projected to garner revenues to the tune of US$2.3 billion by 2012, as stated by Global Industry Analysts, Inc. United States remains the single largest market for food irradiation, accounting for an estimated 32% of global demand in 2008. Though approved for selected products in Europe, irradiation technology has not portrayed expected growth. Asia and Latin America are expected to exhibit potential opportunities in future.
For long, irradiation technology has been successfully used in supplementing the diet of astronauts and inmates in hospitals who nurture weak immune systems. The food irradiation industry today, is still in nascent stage. Market growth thrives on factors such as industry acceptance, consumer acceptance and application parameters ranging from types of foods to be irradiated to dosage levels. Competition from existing proven food sterilization technologies such as steam pasteurization and refrigeration, coupled with the high capital outlay required to set up a irradiation processing plant, and stiff opposition from certain quarters thwarts widespread acceptance of food irradiation technique.
Leading players in the worldwide food irradiation market include Food Technology Service, Inc., IONISOS, MDS Nordion, REVISS Services, Sterigenics International, and STERIS Isomedix Services.
The report titled "Food Irradiation Trends: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a strategic insight into the technology, challenges faced by the industry, factors generating interest, strategic issues to be focused on, studies that call for second thoughts, besides level of penetration in various markets including US, Canada, Japan, Europe, Australia & New Zealand, Philippines, Thailand, India, Malaysia, Argentina, Brazil, Chile, Mexico and other Latin American markets. An update on strategic corporate developments is also provided.
For more details about this research report, please visit http://www.strategyr.com/Food_Irradiation_Trends_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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