Nutritional Analysis Market by Parameter (Vitamin Profile, Mineral Profile, Fat Profile, and Others), Product Type (Beverages, Bakery and Confectionery, Meat, Poultry and Seafood, and Others),: Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 5.5 billion mark in 2022 and is expected to hit US$ 8.1 billion by 2030, recording a CAGR of 8.3% during the forecast period.
Rising food safety regulations to favor the nutritional analysis market growth
Nowadays, government authorities are imposing stringent food safety regulations to ensure the safe consumption of food and beverage items. This aspect is expected to push food manufacturers toward availing food nutritional analysis services which thereby, driving the nutritional analysis market growth. In addition, the growing awareness regarding maintaining health and wellbeing among youngsters is anticipated to increase the nutritious food products demand and support the nutritional analysis market growth. New product development segment is expected to grow at a rapid pace due to the continual food manufacturers focus of offering nutritious and energy-building beverages and food items requiring nutritional analysis for product quality compliance.
Within the report, the market is segmented into parameter, product type, and geography. By parameter, the market is further segmented into vitamin profile, mineral profile, fat profile, and others. On the basis of product type, the market is further segmented into beverages, bakery and confectionery, meat, poultry and seafood, and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Commercial infrastructural development and growing food trade to scale up the market
Nutritional analysis is mainly useful for understanding the chemical composition of the food products. Growing development of commercial infrastructural establishments such as airports, seaports and cruise lines requiring safety testing of the traded food items is expected to upsurge the nutritional analysis market growth. Nowadays, companies are utilizing nutrient analysis software as well as innovative laser scanning and immunoassay food testing techniques to understand the nutritional profile of the food product. These aspects could increase the nutritional analysis services demand globally.
Rising applications in different manufacturing industries are the major factors driving the market growth.
Food manufacturers essentially avail nutritional analysis services to ensure the quality and integrity of their manufactured food items. Hence, continual food manufacturers focus toward developing different nutritional food items is likely to increase the nutritional analysis services demand globally. In addition, increasing pharmaceutical companies’ necessities of conducting various nutritional content analysis methods such as laboratory-based analysis and database analysis for evaluating composition of the produced medicinal drugs is expected to fuel the market growth during 2022-2030.
Recent strategic developments in nutritional analysis market
The nutritional analysis market has undergone several significant developments, and a few of these have been mentioned below:
- In April 2022, SGS, a Switzerland-based inspection, testing, and certification company launched state-of-art digital hub to improve the customer experience for its business.
- February 2022, Intertek, a quality assurance service provider launched a new adulteration analysis service to ensure the quality of the botanical supplements and nutraceuticals for the weight control purposes.
- In November 2020, Ingredion acquired a food manufacturing company Verdient Foods to expand the manufacturing capacity of its food products in Canada. This company’s efforts could support the nutritional analysis market growth in Canada.
The nutritional analysis market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. ALS Limited, AsureQuality Limited, Bureau Veritas Group, Covance Inc., Eurofins Scientific. are among the prominent players operating in the market.
Target audience for the report:
- Food products manufacturers
- Food products suppliers
- Food products distributors
- Food testing laboratories
- Beverage manufacturers
- Pharmaceutical firms
- Food testing equipment providers
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Parameter:
- Vitamin Profile
- Mineral Profile
- Fat Profile
- Others
- Product Type
- Beverages
- Bakery and Confectionery
- Meat
- Poultry and Seafood
- Others
- Region
- North America
- Europe
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- ALS Limited
- AsureQuality Limited
- Bureau Veritas Group
- Covance Inc.
- Eurofins Scientific.
Companies profiled
- ALS Limited
- AsureQuality Limited
- Bureau Veritas Group
- Covance Inc.
- Eurofins Scientific.