Portland, OR, April 17, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Nutritional Analysis Market by Analysis Type (Laboratory Testing and Nutritional Database Testing), Product Type (Bakery & Confectionery, Snacks, Dairy, Meat Products, and Others), and Nutrient (Macronutrients and Micronutrients): Global Opportunity Analysis and Industry Forecast 2022–2031". According to the report, the global Nutritional analysis industry generated $4.9 billion in 2021, and is anticipated to generate $8.2 billion by 2031, witnessing a CAGR of 5.5% from 2022 to 2031.
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Prime determinants of growth
The emergence of strict guidelines regarding food quality in developed countries and the surge in demand for packaged and processed food drive the growth of the global nutritional analysis market. On the other hand, many manufacturers happen to provide inaccurate information about the formulation of their ingredients in products or manipulate test results which restrains the market growth to some extent. However, a rise in living standards and an increase in investments in food production are expected to pave the way for lucrative opportunities for the key players in the industry.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $4.9 billion |
| Market Size in 2031 | $8.2 billion |
| CAGR | 5.5% |
| No. of Pages in Report | 320 |
| Segments Covered | type, product type, nutrient, and region |
| Drivers | Strict guidelines regarding food quality in developed countries Increase in demand for packaged and processed food |
| Opportunities | A rise in living standards and an increase in investments in food production |
| Restraints | Rise in adherence to food regulations in developing regions |
Covid-19 Scenario
- The outbreak of the Covid-19 pandemic had a positive impact on the global nutritional analysis market. Greater consumption of healthy food and beverages led to an increase in nutritional analysis of food products.
- Most of the manufacturers of food products were focusing on creating food products that were beneficial for the consumers. Food manufacturers were eager to highlight the nutritional benefits of their products.
- Further improvements in food production technology in the post-pandemic period will help provide a bigger boost to the market in the future.
The laboratory testing segment to maintain its leadership status throughout the forecast period
Based on analysis type, the laboratory testing segment held the highest market share in 2021, accounting for more than two-thirds of the global nutritional analysis market revenue, and is estimated to maintain its leadership status throughout the forecast period, as it aids in providing precise nutrient values in food, which aids in the creation of accurate nutritional labeling for packaged foods which are compliant with the food restrictions of the location where the food is created. However, the nutritional database testing segment is projected to manifest the highest CAGR of 6.2% from 2022 to 2031, as this technique is less expensive because food makers only need to submit their component names and the number of ingredients used to nutritional analysis businesses rather than a selected sample of the packaged foods. Several companies also offer downloaded software for nutritional analysis at subscription prices, making it more profitable.
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The bakery and confectionery segment to maintain its lead position throughout the forecast period
Based on product type, the bakery and confectionery segment held the highest market share in 2021, accounting for nearly one-third of the global nutritional analysis market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is expected to portray the largest CAGR of 5.8% from 2022 to 2031, owing to the nature of the production process and the number of ingredients used in bakery and confectionery products.
The macronutrients segment to maintain its leadership status throughout the forecast period
Based on nutrients, the macronutrients segment accounted for the largest share in 2021, contributing to nearly two-thirds of the global nutritional analysis market revenue, and is projected to maintain its lead position during the forecast period, as nutritional analysis of food focuses primarily on macronutrients in the food to provide precise facts about the nutritional composition of the food and to assist consumers in making appropriate decisions about the purchase of dietary products that are suited for their needs. However, the micronutrients segment is expected to portray the largest CAGR of 5.8% from 2022 to 2031, due to the growing consumer awareness of the significance of ingesting such nutrients, combined with the increased use of convenience foods that lack such nutrients, which has resulted in an increase in fortification of packaged foods with such macronutrients by manufacturers.
North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global nutritional analysis market revenue and is projected to maintain its lead position during the forecast period, owing to the increasing customer demand for functional ingredients in foods, processed food, meal replacements, and on-the-go packaged food items, along with increased efforts by regional food manufacturers to meet regulatory compliances for the food manufacturing process. However, Asia-Pacific is expected to witness the fastest CAGR of 6.8% from 2022 to 2031, as the majority of the nations that make up this region are still developing, which has resulted in an increase in middle-class population, higher living standards, and more health consciousness among the people in this region. More emphasis is being placed on the nutritional composition of food, which creates business potential in the region.
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Leading Market Players: -
- ALS Limited
- Bureau Veritas SA
- Compu-Food Analysis
- Eurofins Scientific
- Food Lab, Inc.
- Intertek Group PLC
- Lifeasible
- MENUSANO
- Microbac Laboratories, Inc.
- Opal Research And Analytical Services
- Pat-Chem Laboratories LLC
- SGS SA
- Test Needs Australia
- Thermo Fisher Scientific, Inc.
- TÜV SÜD.
The report provides a detailed analysis of these key players in the global nutritional analysis market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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