LONDON, April 13, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the packaged food shelf life testing market forecasts the global packaged food shelf life testing market to grow from $4.4 billion in 2022 to $4.8 billion in 2023 at a compound annual growth rate (CAGR) of more than 9%. The packaged food shelf life testing market is then expected to grow to $6.9 billion in 2027 at a CAGR of more than 9%.
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The high demand for packaged foods will drive the growth of the packaged food shelf-life testing market in the future. Packaged foods are foods that have their entire surface covered to protect them from damage, contamination, spoilage, pest attacks, and tampering during transport and storage, using either permeable or impermeable wrapping. Packaged food shelf-life testing is critical for determining food safety and ensuring that food is free of physical, chemical, and biological hazards, thereby protecting customers from food-borne diseases. According to the Organization for Economic Co-operation and Development (OECD), a France-based intergovernmental organisation dedicated to democracy and the market economy, global retail demand for packaged foods increased by 15-20% in June 2022 compared to 2021, and packaged food sales in Germany increased by 56% compared to 2021. As a result, the high demand for packaged foods drives the market for packaged food shelf-life testing.
Major players in the packaged food shelf life testing market are SGS SA, Bureau Veritas, Eurofins Global, Intertek Group Plc., Mérieux NutriSciences Corp., ALS Ltd., AsureQuality Limited, RJ Hill Laboratories, SCS Global, Agrifood Technology, Symbio Laboratories.
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Technological advancements are a popular trend in the packaged food shelf-life testing market. Major market players are introducing advanced technologies in order to gain a competitive advantage. SAVRpak, a US-based food technology innovation company, for example, launched SAVRpak Drop-In in May 2022, which works on moisture control technology that reduces excess moisture, condensation, and bacteria, thereby extending the shelf-life of packaged produce such as berries, leafy greens, grapes, and mini cucumbers. It regulates the levels of oxygen and carbon dioxide in packaged produce to keep it fresh for up to four times longer.
Europe was the largest region in the packaged food shelf life testing market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the packaged food shelf life testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The global packaged food shelf life testing market is segmented by parameter into microbial contamination, rancidity, nutrient stability, organoleptic properties, other parameters; by food tested into packaged food, beverages, bakery and confectionery products, meat and meat products, dairy products and desserts, processed fruits and vegetables, other food tested; by technology into equipment and kit-based, manual tests; by method into real-time shelf life testing, accelerated shelf-life testing.
Packaged Food Shelf Life Testing Global Market Report 2023 by The Business Research Company provides insights on the packaged food shelf life testing market size, packaged food shelf life testing market segments, packaged food shelf life testing market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
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