The Shelf Life Testing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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In accordance with The Business Research Company’s comprehensive Shelf Life Testing Global Market Report for 2024, the market has experienced robust growth, surging from $4.2 billion to an estimated $4.59 billion within the year. This remarkable expansion, set at a compound annual growth rate (CAGR) of 9.3%, is primarily attributable to stringent quality and safety regulations, heightened consumer demand for freshness, the globalized nature of the food supply chain, a dedicated focus on reducing food waste, the expansive growth of the pharmaceutical industry, and the introduction of environmentally conscious biodegradable packaging.
Forecasts for the shelf life testing market indicate continued robust growth, with an anticipated increase to $6.54 billion by 2028, maintaining a CAGR of 9.2%. This trajectory is shaped by heightened consumer awareness of product labeling, a concentrated emphasis on nutritional integrity, the increasing complexity of food formulations, a rising demand for natural preservatives, the advent of personalized nutrition, and a noticeable shift towards plant-based products. Noteworthy trends in this forecast period encompass advancements in analytical technologies, innovative preservation methods, packaging solutions, bespoke testing services, and strategic collaborations and partnerships.
High demand for packaged foods is expected to propel the growth of the shelf-life testing market going forward. Packaged foods refer to food that has its entire surface covered to protect it from damage, contamination, spoilage, pest attacks, and tampering during transport and storage, either by permeable or impermeable wrapping. Shelf-life testing is essential to determine the safety of the packaged food and ensure that food is free of physical, chemical, and biological hazards, thereby protecting the customers from food-borne diseases. For instance, in June 2022, according to the Organization for Economic Co-operation and Development (OECD), a France-based intergovernmental organization, global retail demand for packaged foods had increased by 15-20% higher than the previous year, and sales of packaged foods in Germany increased by 56% from the previous year. Hence, the increasing demand and consumption of packaged food is expected to drive the market.
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The shelf life testing market covered in this report is segmented –
1) By Technology: Equipment And Kit-Based, Manual Tests
2) By Parameter: Microbial Contamination, Rancidity, Nutrient Stability, Organoleptic Properties, Other Parameters
3) By Method: Real-Time Shelf Life Testing, Accelerated Shelf-Life Testing
4) By Food Tested: Packaged Food, Beverages, Bakery And Confectionery Products, Meat And Meat
Top 5 Major Players:
Products, Dairy Products And Desserts, Processed Fruits And Vegetables, Other Food Tests
An integral facet of this market’s evolution is the adoption of cutting-edge technologies, constituting a prominent trend. Leading market players leverage state-of-the-art tools such as artificial intelligence to provide sophisticated shelf-life predictions, thus gaining a distinct competitive edge. An exemplar in this arena is the Netherlands-based food tech startup, OneThird. Pioneering shelf life prediction solutions through the integration of spectroscopy and other data sources, OneThird’s cloud platform and AI algorithms facilitate seamless information sharing and collaboration with partners, exemplifying the industry’s commitment to technological innovation and excellence.
The shelf life testing market report table of contents includes:
1. Executive Summary
2. Shelf Life Testing Market Characteristics
3. Shelf Life Testing Market Trends And Strategies
4. Shelf Life Testing Market – Macro Economic Scenario
5. Global Shelf Life Testing Market Size and Growth
…..
31. Global Shelf Life Testing Market Competitive Benchmarking
32. Global Shelf Life Testing Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Shelf Life Testing Market
34. Shelf Life Testing Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Shelf Life Testing Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Shelf Life Testing Market, Segmentation By Parameter, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Shelf Life Testing Market, Segmentation By Method, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 75: SGS SA Financial Performance
Table 76: Bureau Veritas Financial Performance
Table 77: Eurofins Global Financial Performance
Table 78: Intertek Group plc Financial Performance
Table 79: Mérieux NutriSciences Corp. Financial Performance
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