LONDON, July 6, 2016 /PRNewswire/ -- Key Regulatory Perspectives for the Food and Beverages Market in the United States : Implications of the Food Safety Modernization Act
This research covers the US food and beverages market. It provides details of the food chain and the need for regulations across the food chain, with deep dives into regulatory rules and their implications. Due to high rates of recall of food products in recent times owing to contamination, the government has come up with strict guidelines to prevent contamination from raw materials to intermediate or complete processed foods. The study discusses the Food Safety Modernization Act and its impact on specific food sectors, such as dairy, raw meat, and beverages.
-The US food and beverages market holds one-third of the US economy by value. The market operates through an organized value chain that converts raw materials from the farm to edible products.
- The value chain consists of main segments: farmers/producers, food and beverage manufacturers/processors, distribution and retail, and consumers.
- In response to frequent food product recalls and food-borne illnesses, the US Food and Drug Administration (FDA) has proposed a set of rules or guidelines that need to be followed to prevent contamination of food across the value chain.
- Accordingly, the Food Safety Modernization Act (FSMA) bill was passed in the United States in 2011.
- Different food sector regulations were modified or updated to match with the FSMA standards.
Food and beverage items supplied through retail was valued to be $ billion in 2015. Grocery retail sales holds % of the share, with food service stations accounting for the rest.
- A significant section of the population is shifting from small and medium-sized cities to metropolitans for employment and better lifestyle. This segment predominantly includes small families. Manufacturers are responding to this demographic change by launching more products in the packaged food product line. The US packaged food market was valued at $ billion in 2015.
- Holistic health demands from consumers are leading to a higher acceptance of fresh produce. Rising consumer awareness about health and wellness influences purchasing priorities.
- Increasing demand for natural foods has lowered the consumption of genetically modified products in the US market. Fresh vegetable market sales alone was estimated to be close to $ billion in 2015.
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