The shelf life testing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Shelf Life Testing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The shelf life testing market size has grown strongly in recent years. It will grow from $4.2 billion in 2023 to $4.59 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to stringent quality and safety regulations, consumer demand for freshness, globalization of the food supply chain, focus on food waste reduction, expansion of pharmaceutical industry, introduction of biodegradable packaging.
The shelf life testing market size is expected to see strong growth in the next few years. It will grow to $6.54 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to consumer awareness of product labeling, focus on nutritional integrity, increasing complexity of food formulations, rising demand for natural preservatives, emergence of personalized nutrition, shift towards plant-based products. Major trends in the forecast period include advancements in analytical technologies, technological innovations in preservation methods, packaging innovations, customized testing solutions, collaboration and partnerships.
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Scope Of Shelf Life Testing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Shelf Life Testing Market Overview
Market Drivers –
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.
Market Trends –
Technological advancements are a key trend gaining popularity in the shelf life testing market. Major companies operating in the market are leveraging technologies such as artificial intelligence to provide advanced shelf-life prediction and gain a competitive advantage in the market. For instance, a Netherlands-based food tech startup OneThird provides shelf life prediction solutions using spectroscopy and other data sources to predict shelf life. OneThird’s cloud platform and AI algorithms allow us to share this information and connect with partners.
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 Products, Dairy Products And Desserts, Processed Fruits And Vegetables, Other Food Tests
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Regional Insights –
Europe was the largest region in the shelf life testing market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the shelf life testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the shelf life testing market report are SGS SA, Bureau Veritas, Eurofins Global, Intertek Group plc, Mérieux NutriSciences Corp., ALS Limited, AsureQuality Limited, RJ Hill Laboratories, SCS Global Services, Agrifood Technology, Symbio Laboratories, Premium Analytical Services, AES Laboratories Pvt. Ltd., EnviroLogix Inc., EMSL Analytical Inc., Neogen Corporation, Charm Sciences Inc., TÜV NORD GROUP, Medallion Labs, Q Laboratories Inc., Microbac Laboratories Inc., Silliker Inc., Covance Inc., NSF International, Food Safety Net Services, Genevac Ltd., R-Biopharm AG, Romer Labs, 3M Company, Thermo Fisher Scientific Inc., MilliporeSigma, Bio-Rad Laboratories Inc.
1. Executive Summary
2. Shelf Life Testing Market Report Structure
3. Shelf Life Testing Market Trends And Strategies
4. Shelf Life Testing Market – Macro Economic Scenario
5. Shelf Life Testing Market Size And Growth
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27. Shelf Life Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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