Shelf-Life Testing Market Worth $4.76 Billion by 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.
Northbrook, IL -- (SBWire) -- 08/16/2018 --The report "Shelf-life Testing Market by Parameter (Microbial Contamination, Rancidity, Nutrient Stability, Organoleptic Properties), Method (Real-time and Accelerated), Technology, Food Tested, and Region - Global Forecast to 2023" 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 growing demand for packaged and convenience foods.
Browse 67 market data Tables and 38 Figures spread through 138 Pages and in-depth TOC on "Shelf-life Testing Market - Global Forecast to 2023"
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The microbial contamination segment is projected to be the largest & fastest-growing during the forecast period
The shelf-life testing market, by parameter, is estimated to be dominated by the microbial contamination segment and is also projected to be the fastest-growing. Microorganisms pose serious health problems, resulting in strict regulations imposed by national governments and international bodies with respect to maximum content levels in food products. As a result, shelf-life testing is essential to ensure that the microbial content in the food product is limited to only a certain level throughout its shelf life, thereby contributing to consumer safety and complying with regulatory limits.
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The packaged food segment is estimated to dominate the market in 2018
The packaged food segment, by food tested, is estimated to dominate the market during the forecast period. Rapid urbanization has led to changes in consumer lifestyles. Higher employment opportunities and increased disposable incomes have led to increased consumption of packaged food products, which has, in turn, necessitated shelf-life testing for these products.
The equipment- & kit-based segment set to dominate the market by 2023
The shelf-life testing market, by technology, is projected to be dominated by the equipment- & kit-based segment and is also projected to grow at a higher rate during the forecast period. This segment consists of both, traditional and rapid systems, which are highly preferred by manufacturers because of their ability to provide faster and more reliable results.
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Asia Pacific is projected to be the fastest-growing market during the forecast period
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.
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