Global Shelf-life Testing Market: Overview
The global shelf-life testing market deals with a vast set of products, tools, devices, and services used to accurately determine the best before or use by dates for products such as foods and beverages, cosmetics, and medicines has been exhibiting substantial growth over the past few years. The shelf-life testing market has especially garnered massive traction recently owing to the increased demand in the foods and beverages industry. The food and beverages industry continues to be the leading consumer of shelf-life testing services, thanks to the rising prevalence of food-borne disease worldwide and the growing awareness regarding these rising incidences.
The report reveals critical data regarding the key drivers and restraints in the global shelf-life testing market. The shelf-life testing market size has been examined on the basis of contemporary trends as well as historical performance. The forecast period of 2018 to 2025 gives in-depth insight into the upcoming patterns in the market. The research includes information gathered from primary and secondary sources. Primary sources consist of interview responses of experienced industry experts in order to ensure accuracy. Premium journals, company presentations, industry association, annual reports, internal database are the secondary sources of the report.
Global Shelf-life Testing Market: Trends and Opportunities
The key factors driving the global shelf-life testing market include increasing food trade, growing incidence of foodborne illnesses, rising food recalls, stringent regulatory practices, and easier access to new testing technologies. The shelf-life testing market is also significantly influenced by the employment of technologically advanced equipment and techniques, which are making processes and outcomes more reliable. Concerns regarding food safety have impelled food and beverage manufacturers as well as consumers to emphasize on the use of shelf-life testing services. The primary challenges that the food industry faces today are traceability, identification, and prevention of food contaminants. The implication of stringent regulations regarding food safety to prevent contamination of food has impelled food product manufacturers and consumers have increased the use of shelf-life testing tools and services.
With the progress of food and beverage manufacturing industry and expansion of the food service industry, the global shelf-life testing market is also expected to grow. The sales of several diagnostic test products are likely to increase over the next couple of years due to the projected rise in the inspection of food plants. However, the growth of the market is likely to be adversely impacted by the lack of awareness among people in developing economies. The disorganization in the regulatory systems is further expected to hinder the growth of the global shelf-life testing market.
Global Shelf-life Testing Market: Geographical and Competitive Dynamics
From a geographical standpoint, the report examines the shelf-life testing market in regions such as North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Of these, the market for shelf-life testing in Asia Pacific is presently the regional market with the most promising growth opportunities. The regional market is likely to expand at an impressive CAGR over the forecast period, chiefly owing to the alarming rise in the number of cases associated with infectious diseases spread through packaged and processed food products and governments focusing on making food safety policies more stringent. The rise in the number of shelf-life testing facilities in emerging economies such as China and India in the region will also help drive the shelf-life testing market.
Global Shelf-life Testing Market: Key Players
The report also provides a detailed account of the competitive dynamics of the global shelf-life testing market wherein along with an analytical account of the recent developments in the market, the detailed business profiles of some of the leading companies in the market is also included. Some of the most prominent vendors in the global shelf-life testing marketspace are Intertek, RJ Hill Laboratories, Eurofins, Bureau Veritas, ALS Limited, TÜV NORD GROUP, Symbio Laboratories, Microchem Lab Services (Pty) Ltd, Premier Analytical Services, AsureQuality, and Agrifood Technology.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.