SEATTLE, May 13, 2022 (GLOBE NEWSWIRE) -- The global lipid testing market for food & beverages was valued at US$ 1,011.85 million in 2020 and is expected to exhibit a CAGR of 4.97% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Lipid Testing Market for Food & Beverages:
The global lipid testing market for food and beverages is primarily driven by the growing burden of high cholesterol and cardiovascular diseases around the world. The normal cholesterol levels are 200 mg/dl, and the range higher than this is referred to as hypercholesteraemic. The rise in cholesterol levels increases the risk of stroke and heart disease. According to the Centre for Disease Control & Prevention (CDC), Nearly 94 million U.S. adults age 20 or older have total cholesterol levels higher than 200 mg/dL. 28 million adults in the United States have total cholesterol levels higher than 240 mg/dL. High cholesterol levels are common in the geriatric population, and the world's growing older population is another major factor driving market growth.
The increasing cholesterol levels among the population has developed the awareness about the good nutrition and maintaining cholesterol levels in the food and beverages. This has lead food and beverage industries to maintain the nutrition values of their products as per the consumer demand. According to the regulations for food labelling on food packaging by Food & Agriculture Organisation, that it is important to mention evidence-based health and nutrition information food products for healthy dietary practices. This kind of regulation made by the government is driving the market for lipid testing market for food and beverages.
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According to World Health Organization (WHO) in 2015, each year worldwide, unsafe food causes 600 million cases of foodborne diseases and 420 000 deaths. 30% of foodborne deaths occur among children under 5 years of age. Such type of reports from the World health organisation are increasing the awareness among the consumers related to food borne disease and making food industries more precise and adopting standard lipid testing’s for their products.
Key Market Takeaways:
The global lipid testing market for food & beverages is expected to exhibit a CAGR of 4.97% over the forecast period (2021-2028). The lipid testing market for food & beverages is driven by the rise in the consumption of processed foods which contains salts, preservatives, sweeteners, fats, chemicals, artificial flavours, and others. According to the report on processed food and safety by the Harvard T.H. Chan School of Public Health, these ingredients increase the risk of high blood pressure, cholesterol, diabetes, heart attacks, and various other health risks. Increasing health risks through the consumption of these food products leads to increase the need for food testing, which in turn is driving the market growth. Moreover, stringent government regulations over food safety in several regions across the global has immensely driven the global lipid testing market for food & beverages.
Competitive Landscape:
Major players operating in the global lipid testing market for food & beverages include Intertek Group Plc., Microbac Laboratories Inc., Eurofins Scientific SE, Campbell Brothers Limited, General Mills Inc., TUV Nord Group, Bureau Veritas S.A., Ltd., AsureQuality Limited, ALS Limited, NEOGEN Corporation, Mérieux NutriSciences Corporation, and SGS SA
Key players are focusing on implementing strategies such as acquisitions and mergers to gain a competitive edge in the global market. For instance, in July 2021, Intertek, a provider of testing, inspection, and quality certifications for the various industries worldwide. The company expanded into attractive agri-food and beverages market in Brazil with the acquisition with JLA Brazil, a market-leading independent provider of Food, Agri and Environmental testing solutions based in Brazil.. Acquisition presents a compelling opportunity to enter the fast growing agri-food & beverage testing market in Brazil, one of the largest food producers and exporters globally.
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Market Segmentation:
- Global Lipid Testing Market For Food & Beverages, By Technology:
-
- Recent
- Traditional
- Global Lipid Testing Market For Food & Beverages, By Application:
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- Food & Beverages
- Food Ingredients
- Global Lipid Testing Market For Food & Beverages, By Region:
- North America
- By Country
- Canada
- U.S.
- By Country
- Latin America
- By Country
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- By Country
- Europe
- By Country
- U.K.
- France
- Germany
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- ASEAN
- Australia
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country
- Northern Africa
- Central Africa
- South Africa
- By Country
- North America
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