Yahoo Finance 15 Most Common Counterfeit Foods in the US
In this article, we will look at the 15 most common counterfeit foods in the US. If you want to see more of the most common counterfeit foods in the US, go directly to the 5 most common counterfeit foods in the US.
The global food market brings together the many sectors of agriculture, production, distribution, and consumption, making it one of the largest and most exquisite networks in human history. Food travels via intricate dances of supply and demand, tradition and invention, and sustenance and culture. Around the world, it starts in vast agricultural fields and finishes in packed grocery aisles, bustling ports of commerce, and little kitchens.
As of 2024, the food industry earned $10.07 trillion in sales, and it is expected to expand at a rate of 6.53% per year (CAGR 2024-2028). Confectionery and snacks represent the biggest section of the market, with an estimated value of $1.77 trillion by 2024.
In the global sense, the food market is naturally most vital one, and it continues to experience changing trends, in forms of shifting tastes and innovation in technology. In terms of the recent future projections, the market is expecting to squirt out 6% of its revenue through digital means by 2024 end, indicating towards the global digitization across the global sectors.
In the realm of food, U.S. continues to rule globally, meeting the emerging food-related needs of the world. The country's industry spans across organic fruits, packaged foods, dairy products, and ready-to-eat products, with fierce competition and innovation driving the sector. Moreover, the huge population figure of round-about 330 million further fuels the market competition and size. The country's food service market alone stood at $824.61 billion in 2022, expected to reach $1.767 trillion by 2030, according to Fortune Business Insights!
With such an established control over the global food supply, it's essential to have a look at some of the food-related giants of the U.S. market. Namely, we are going to discuss PepsiCo (NASDAQ:PEP), Tyson Foods (NYSE:TSN), and The Hershey Company (NYSE:HSY).
PepsiCo (NASDAQ:PEP), which engages in the categories of beverage, food, and snack, has its headquarters located in Harrison New York. It’s the biggest company whose roots go back to 1898. As per 2023’s annual report, the segment percentage profit of PepsiCo (NasdaqGS: PEP) Beverages in North America is 18%, and in Latin America, it is 16%.
Tyson Foods, founded in 1935, is an international food company that focuses on chicken, pig, and beef. In the fiscal year 2024, Tyson (NYSE:TSN) expects adjusted operating profits to range from $800 million to $1 billion. For the same period, Tyson Foods (NYSE:TSN) expects its overall company-adjusted operating income to be between $1 billion and $1.5 billion.
One of the biggest producers of chocolate in the world, The Hershey Company (NYSE:HSY) now distributes milkshakes and other beverages in addition to baked goods like cakes and cookies. One of the few milk chocolate companies in the world that still makes their product with fresh milk is Hershey's Milk Chocolate, which contributes to its unique flavor. The Hershey Company’s (NYSE:HSY) business performed admirably in 2023, as seen by a noteworthy 7.2% increase in net sales growth. Furthermore, diluted adjusted earnings per share increased significantly by 12.6% in the year.
Even while some well-known food brands get most of the attention, numerous other companies in the food industry are equally a part of counterfeit foods. The reliability of the global food manufacturing system is constantly at risk by the counterfeit food sector, which flows into markets with fake goods that harm trust among consumers, risk consumer health, and compromise economic stability.
In the United States, a country widely recognized for its diverse food production scene and rich agriculture industry, the widespread use of counterfeit food is a serious issue. The variety of such foods that are being sold in the United States is huge and includes anything from olive oil to salmon. There are many food items that are not healthy; hence, one should be wary of their intake of processed meat items like sausages, salami, pâté, and beef burgers because they are frequently heavy in salt and fat. The healthiest option is to consume white meat without any skin; white flesh from chicken is regarded by many experts as the leanest and cleanest meat to consume. Just like meat, counterfeit foods cause many health issues as well, which is why we will now be discussing the 15 most common counterfeit foods in the US.
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Methodology
To come up with 15 different counterfeit food items, we carefully selected information from more than 15 reliable sources, which include but aren’t limited to modern sites like Bon Appetite, My Recipes, etc. This wide range of sources guarantees a comprehensive understanding of the topic. The consensus approach is used to rank food items i.e. the food items that were repeated more, in number of times, in sites were ranked higher and the less repetitive were given a lower rank.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
15. Baby Formula
No of times repeated: 1
First on our list of the 15 most common counterfeit foods in the US is baby formula. Baby formula is linked to serious health risks as well as a high chance of dietary fraud. Remember the melamine-contaminated Chinese baby formula? Tainted milk, which is extremely harmful, might be a part of the formula. Scammers may dilute baby formula with extra substances, including water or fillers, to increase product volume to maximize revenue.
14. Black Pepper
No of times repeated: 2
Next on our list of 15 most common counterfeit foods in the US is Black Pepper. Similar to crushed cinnamon, ground black pepper is also very difficult to identify in powder form. Researchers have discovered that purported black pepper contains papaya seeds, juniper berries, pepper stems, and chaff. Similar to coffee, it's best to go full in terms of flavors and to stay away from adding colored starch to your supper.
13. Truffle Oil
No. of times repeated: 3
Although truffle oils are no longer as common among chefs, specialized merchants still sell a large variety of them. On the other hand, truffle oil is a total hoax because not a single truffle particle is present in it.
12. Wasabi
No. of times repeated: 3
The sushi makers use water to make wasabi paste out of powdered fake wasabi. You might be shocked to learn that real wasabi tastes quite different from the scorching feeling that is commonly associated with it. Wasabi tastes sweet and has a hint of spice when it's freshly grated. It also smells herbal. Since there is a shortage of wasabi compared to the demand, authentic wasabi is pricey and cannot be given away by sushi restaurants.
11. Saffron
No. of times repeated: 4
In addition to being a staple in many foreign cuisines, saffron is also used in medicines and cosmetics. Saffron, sometimes referred to as "red gold," is expensive because of its labor-intensive production. The violet bloom with crimson stigmas on the saffron crocus, which is the source of saffron, must be painstakingly picked by hand. India, Greece, Morocco, and Iran all harvest it. Due to its high cost and limited supply, saffron is a prime target for counterfeiting by many sellers.
10. Vanilla
No. of times repeated: 4
Since real vanilla beans are used in their production, real vanilla extract has a flavor profile that is both rich and complex. On the other hand, the main component of counterfeit vanilla extract is synthetic vanillin, which has a less complex and more obvious flavor. Sometimes people become confused by the counterfeit version thinking it is the actual extract, even when attempts are made to recreate the authentic flavor.
9. Alcohol
No. of times repeated: 5
The most common forms of wine counterfeiting involve bottling an average wine under a prestigious label or passing off a lower-quality vintage for one that is well-known to fetch a higher price. According to experts, five percent of wines sold are counterfeit, costing American companies $250 million in lost revenue! This shouldn't be a problem unless you plan to fill your cellar with back-vintage Chateau Laffite. If so, however, you should be aware of the number of Ts in Laffite.
8. Milk
No. of times repeated: 5
At number eight on our list of the 15 most common counterfeit foods in the US is Milk because you can never tell if water is added to increase the volume of milk which reduces the nutrients present in milk. Mostly, the milk suppliers add dry milk or powdered milk to increase volume and sell it at higher rates. Not just that, some chemicals like hydrogen peroxide are used in milk to prolong its life. Often plant milk for example, almond milk, may be sold as the usual cow milk. The sellers could also repackage the expired milk and sell and consumers would never know.
7. Fruit juice
No. of times repeated: 6
Fruit juices can have artificial flavors and colors added to them, or they might be diluted with water or other less expensive juices. As soon as pomegranate juice gained popularity as the Next Big Superfood, there was a method to imitate it. According to research, pomegranate juice isn't even present in some drinks, and many are enhanced with other liquids.
6. Parmesan cheese
No. of times repeated: 6
When Bloomberg News tested store-bought grated cheeses for cellulose in February 2017, it found that every cheese tested, known as 100% Grated Parmesan Cheese, included the wood pulp-based anti-clumping ingredient. Although cellulose is a safe ingredient, Dean Sommer, a cheese engineer, says that 2% to 4% is an appropriate amount. Since wood pulp is less expensive than pure Parmesan, cheese manufacturers frequently add more of it to their cheeses.
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Disclosure: None. The 15 most common counterfeit foods in the US is originally published on Insider Monkey.
