Dublin, July 09, 2024 (GLOBE NEWSWIRE) -- The "Shelf-Life Testing Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global shelf-life testing market is evaluated at US$4.099 billion for the year 2022 and is projected to grow at a CAGR of 7.86% to reach a market size of US$6.961 billion by the year 2029.
The rising safety regulations and food safety policies of the government are giving potential to the growth of the global shelf-testing market. The food safety section of every country is managed and controlled by government organizations. Shelf-life testing methods are also employed by the food department, controlled by the government in every country.
The rising market for packaged and processed foods is leading to the need for shelf-life testing. The growth in consumption of processed and packaged foods is driving the market growth of the shelf-life testing market. The developments and advancements in testing technology are also increasing the wide applications of shelf-life testing in the medical and cosmetic industries. The regulations and laws are implemented by international organizations and governments for shelf-life testing.
The introduction of food safety regulations may propel the market
Food safety regulations are strictly controlled by governmental institutions. The need for food safety and food quality is making governmental organizations focus on testing and quality-checking methods in the food and beverage sector. Rising cases of food infections and food-spread diseases are increasing the need and demand for proper shelf-life testing methods. According to the reports of the WHO (World Health Organisation), approximately 600 million cases of food infections are reported worldwide. The increased consumption of processed foods is also increasing the need for shelf-life testing methods. The rising trend of food infections and fast-food consumption are driving the market growth of shelf-life testing globally.
Rising demand for packaged food is anticipated to upsurge the market
The modernization of people's lifestyles is fuelling the consumption and use of processed food in the global market. The easy consumption and fast preparation of processed foods are attracting people toward fast-food consumption. The increasing consumption and use of packaged food are also raising the demand and need for proper testing and shelf-life testing in the global market, leading to the market growth of shelf-life testing. The introduction of rapid and advanced shelf-life testing methods is also increasing the market of shelf-life testing for the global market.
Market Restraints
Several restraints in the shelf-life testing business might prevent its broad use. Implementing thorough testing methods necessitates investments in sophisticated technology and qualified staff, which presents a barrier for smaller organizations with limited resources. One major problem is the accompanying expenditures and budgetary limits.
The intricate regulatory environment makes matters more difficult because different sectors and locations have different requirements, which calls for careful compliance. This might lead to extra expenses and administrative challenges for companies that have to comply with a variety of regulatory frameworks. Furthermore, operational difficulties may arise from the time-consuming nature of some testing procedures, which might have an impact on new product launch schedules and manufacturing schedules.
Asia Pacific is anticipated to be the major regional market
The shelf-life testing market in Asia Pacific is driven by a combination of significant factors that are indicative of the region's changing customer tastes and dynamic economic environment. Urbanization and changing lifestyles have resulted in a boom in demand for packaged and processed foods, which highlights the urgent need for trustworthy shelf-life testing procedures to guarantee the quality and safety of these goods. Strict legal requirements, especially when it comes to food safety, encourage producers to use shelf-life testing extensively.
The market's growth is also fueled by the developing pharmaceutical sector, rising consumer awareness of product quality, and ongoing developments in testing and packaging technologies. Shelf-life testing becomes even more crucial when export activity rises and product integrity is maintained during shipping. Furthermore, the focus is on clean labels and ecological products.
In Asia Pacific, China is anticipated to be the largest market
China is expected to become the largest shelf-life testing market in the Asia-Pacific area due to several variables that are influencing the nation's dynamic consumer base and strong industrial environment. The need for trustworthy shelf-life testing procedures is growing as China's consumption of packaged and processed foods rises significantly, guaranteeing that these goods are safe and meet evolving customer demands.
Pharmacies around the nation are becoming dependent on research and development, which emphasizes the necessity of shelf-life testing to ensure the stability and effectiveness of pharmaceuticals. Manufacturers' rigorous shelf-life testing techniques are essential to quality assurance because of the strict regulatory standards and growing consumer awareness of food safety.
Key Developments
- In March 2023, ACON Laboratories, Inc. has been conducting stability testing for the Flowflex COVID-19 Antigen Home Test ever since it was introduced to increase the product's shelf life. The FDA has been informed of these findings. The request was approved to increase the shelf-life of the Flowflex COVID-19 Antigen Home Test from 12 to 24 months when kept at 36-86F (2-30C).
Market Segmentation
By Parameter
- Microbial Contamination
- Rancidity
- Nutrient Stability
- Organoleptic Properties
- Others
By Food Tested
- Packaged Food
- Beverages
- Bakery
- Meat & Meat Products
- Dairy & Dairy Products
- Processed fruits & Vegetables
- Others
By Method
- Real-Time
- Accelerated
By Technology
- Equipment & Kit Based
- Manual Tests
By Geography
- North America
- South America
- Europe
- Middle East and Africa
- Asia Pacific
Companies Featured
- Agrifood Technology
- Symbio Laboratories
- ALS Limited
- SGS SA
- Intertek Group PLC
- R J Hill Laboratories Limited
- Eurofins NSC US Inc.
- Microchem Lab services (Pty) Ltd.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 124 |
| Forecast Period | 2022-2029 |
| Estimated Market Value (USD) in 2022 | $4.1 Billion |
| Forecasted Market Value (USD) by 2029 | $6.96 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/659hm2
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
