Shelf-life Testing Market Growth, Size, Share, Industry Report and Forecast to 2023


The shelf-life testing market was valued at USD 3.19 billion in 2017; it is projected to reach USD 4.76 billion by 2023, at a CAGR of 7.0% during the forecast period.
The shelf-life testing market is estimated to be valued at USD 3.39 billion in 2018 and is projected to reach USD 4.76 billion by 2023, at a CAGR of 7.0%. The market is driven by stringent safety regulations for food products, increase in the outbreak of foodborne illnesses, and growth in demand for packaged and convenience foods.
Key players in the shelf-life testing market include SGS (Switzerland), Bureau Veritas (France), Intertek (UK), Eurofins (Luxembourg), and ALS Limited (Australia). Furthermore, TÜV SÜD (Germany), TÜV NORD GROUP (Germany), Mérieux (US), AsureQuality (New Zealand), RJ Hill Laboratories (New Zealand), SCS Global (US), Agrifood Technology (Australia), Symbio Laboratories (Australia), Microchem Lab Services (Pty) Ltd (South Africa), and Premier Analytical Services (UK) are other players that hold a significant share of the shelf-life testing market.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=133301640 Drivers Stringent safety regulations for food products result in the adoption of shelf-life testing services The rise in the level of intricacies and an increase in the number of supply chain participants have made it difficult for manufacturers to be able to uniformly adopt hygienic and sanitized manufacturing practices. Such factors have further led to an increase in the number of food contamination incidences, thereby compelling various governments across the globe to implement and further develop stringent food safety regulations.
This has fueled the growth of the testing, inspection, and certification market, with different regulatory bodies such as the United States Department of Agriculture (USDA) and European Food Safety Authority (EFSA) introducing guidelines for testing, inspection, and sampling services for the safety and quality assurance of food products. Similar guidelines are adopted by other countries, worldwide, with variations and exceptions in laws.
Increase in outbreaks of foodborne illnesses Incidences of foodborne illnesses occur primarily due to the consumption of food contaminated by pathogens or the growth of yeasts and molds that may or may not be pathogenic. This could also happen when a food commodity exceeds its date of expiry, whereby it ceases to be microbiologically safe for consumption.
According to a WHO estimate released in 2015, around 600 million people in the world fall ill after eating contaminated food, of which 420,000 die every year. According to a Centers for Disease Control and Prevention (CDC) estimate released in 2012, each year nearly 48 million people get sick, 128,000 get hospitalized, and 3,000 die, due to foodborne illnesses, in the US.
According to the Food Standards Agency (FSA), every year around 1 million people are affected by foodborne illness, and nearly 20,000 people receive medical treatment for foodborne illnesses in the UK. Furthermore, about 500 death cases are reported as a result of food poisoning, costing approximately USD 2.0 billion, in the country.
Restraints Lack of market coordination & standardization and improper enforcement of regulatory laws & supporting infrastructure in developing economies The food industry in developing countries remains highly fragmented and is predominated by small and unorganized players, who may have not necessarily adopted proper food testing and shelf-life testing practices, leading to a greater risk of their contamination. Testing of food & beverage products, such as packaged foods, dairy products, beverages, and meat products, among other samples require proper enforcement measures, coordination between market stakeholders and supporting infrastructure.
However, many countries that are classified in the cluster of developing economies lack these factors acting as a restraint for the shelf-life testing industry. Scope of the Report Based on parameter the market has been segmented as follows: Based on food tested, the market has been segmented as follows: Based on method, the market has been segmented as follows: Based on technology, the market has been segmented as follows: Based on region, the market has been segmented as follows: Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=133301640 The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023.
Growth in the Asia Pacific region can be attributed to factors such as growth in the number of shelf-life testing laboratories in India and China, the rise in the number of incidences of bacterial infectious diseases in the region, and growing adoption of convenience and packaged food on the region. This report includes a study of marketing and development strategies, along with the product portfolios of leading companies.
It includes the profiles of leading manufacturers such as SGS (Switzerland), Bureau Veritas (France), Intertek (UK), Eurofins (Luxembourg), and ALS Limited (Australia). TÜV SÜD (Germany), TÜV NORD GROUP (Germany), Mérieux (US), AsureQuality (New Zealand), RJ Hill Laboratories (New Zealand), SCS Global (US), Agrifood Technology (Australia), Symbio Laboratories (Australia), Microchem Lab Services (Pty) Ltd (South Africa), and Premier Analytical Services (UK) are other players that hold a significant share in the shelf-life testing market.
Source: Free Articles from ArticlesFactory.com MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients.
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