Newark, Sept. 07, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global shelf-life testing market is expected to grow from USD 4.56 billion in 2021 to USD 9.55 billion by 2030, at a CAGR of 8.57% during the forecast period 2022-2030.
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Daily consumption of packaged foods, drinks, dairy products, baked goods, confectioneries, and meat products exposes every household to various ailments that tainted products can bring during processing, packing, storage, or distribution. Governments have implemented strict food safety regulations regarding the procurement of raw materials, processing, storage, distribution, and marketing of these products to decrease the number of people who die from food-borne illnesses. Market players are using sophisticated testing technologies to comply with government regulations to stay in the market and retain their consumer base, thereby driving the market's growth. The use of shelf-life testing has expanded as a result of technological advancements. The new testing methods and technologies are comprehensive, dependable, accurate, precise, cost-effective, and have a shorter turnaround time. With technical development, testing equipment will become less expensive and accessible, creating profitable market expansion potential by enabling small laboratories to expand their services and businesses. However, the lack of infrastructure and uniform government regulations will restrict the market's growth. Government initiatives to develop infrastructure and logistics for the shelf-life testing market will help in overcoming the restrictions. Streamlining regulations and guidelines will further the development of the market.
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Competitive Strategy
To enhance their market position in the global shelf-life testing market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In March 2019, SGS declared that its brand-new food microbiological testing facility in Carson, California, would expand. The 2,400-square-foot microbiological testing facility is large. The company's geographical reach and global network of agriculture and food labs will increase because of this expansion.
Market Growth & Trends
Government laws on hygiene, public health, and food safety, as well as increased public awareness, are driving the shelf-life testing market. The requirement to improve service quality for clients is likely to provide an impetus for innovative shelf-life testing solutions. The rise in worries about the increase in animal vectors that contaminate the food and adversely affect the health of humans is driving the global shelf-life testing market forward. New product developments and strategic collaborations amongst top companies striving to expand are some of the factors that are predicted to drive global market growth in the future. Manufacturers of multiple industries, including food & beverages, use shelf-life testing to establish the expiry date of products. Accuracy in concluding these figures protects the brand reputation by satisfying the consumers with their transparency and quality products. It also enables the manufacturers to plan production volumes, optimize company resources, and maximize profits.
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Key Findings
• In 2021, the accelerated shelf-life testing segment dominated the market with the largest market share of 59% and market revenue of 2.69 billion.
The method type segment is divided into real-time and accelerated shelf-life testing. In 2021, the accelerated shelf-life testing segment dominated the market with the largest market share of 59% and market revenue of 2.69 billion.
• Over the forecast period, the equipment & kit-based testing segment will grow at the fastest CAGR of 13.88%.
The technology type segment is divided into manual tests and equipment & kit-based testing. Over the forecast period, the equipment & kit-based testing segment will grow at the fastest CAGR of 13.88%.
• In 2021, the microbial contamination segment accounted for the largest share of the market, with 45% and a market revenue of 2.05 billion.
The parameter segment is divided into microbial contamination, rancidity, organoleptic properties, nutrient stability, pathogens, yeast & molds, and others. In 2021, the microbial contamination segment accounted for the largest share of the market, with 45% and a market revenue of 2.05 billion.
• In 2021, the packaged foods segment accounted for the largest market share, with 39% and a market revenue of 1.77 billion.
The application segment is divided into packaged foods, beverages, meat & meat products, bakery & confectionery products, dairy & dairy products, processed fruits & vegetables, desserts, and others. In 2021, the packaged foods segment accounted for the largest market share, with 39% and a market revenue of 1.77 billion.
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Regional Segment Analysis of the Shelf-Life Testing Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America emerged as the largest market for the global shelf-life testing market, with a market share of around 35.92% and 1.63 billion market revenue in 2021. Given the region's growing consumer market, driven by a growing population and increased disposable income, Asia Pacific is predicted to develop the fastest during the projected period. The ever-increasing consumer market for packaged foods, drinks, dairy, and dairy products has prompted the government to enact strict food safety regulations, boosting the region's demand for shelf-life testing.
Key players operating in the global shelf-life testing market are:
• Agrifood Technology
• ALS Limited
• AsureQuality
• Bureau Veritas
• Eurofins Scientific
• Intertek Group PLC
• Premier Analytical Services
• RJ Hill Laboratories
• SCS Global
• Symbio Laboratories
This study forecasts global, regional, and country revenue from 2019 to 2030. The Brainy Insights has segmented the global shelf-life testing market based on the below-mentioned segments:
Global Shelf-Life Testing Market by Method Type:
• Real-Time Shelf-Life Testing
• Accelerated Shelf-Life Testing
Global Shelf-Life Testing Market by Technology Type:
• Manual Tests
• Equipment & Kit-Based Testing
Global Shelf-Life Testing Market by Parameter:
• Microbial Contamination
• Rancidity
• Organoleptic Properties
• Nutrient Stability
• Pathogens
• Yeast & Molds
• Others
Global Shelf-Life Testing Market by Application:
• Packaged Foods
• Beverages
• Meat & Meat Products
• Bakery & Confectionery Products
• Dairy & Dairy Products
• Processed Fruits & Vegetables
• Desserts
• Others
About the report:
The global shelf-life testing market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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