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Nutritional Analysis Market worth $7.9 Billion by 2026 | Key Players are SGS SA, Intertek Group Plc, Eurofins Scientific, Bureau Veritas, ALS Limited

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Nutritional Analysis Market worth $7.9 Billion by 2026 | Key Players are SGS SA, Intertek Group Plc, Eurofins Scientific, Bureau Veritas, ALS Limited

January 18
20:30 2022
Nutritional Analysis Market worth $7.9 Billion by 2026 | Key Players are SGS SA, Intertek Group Plc, Eurofins Scientific, Bureau Veritas, ALS Limited
The global nutritional analysis market size is estimated to be valued at USD 5.4 billion in 2021 and projected to reach USD 7.9 billion by 2026, recording a CAGR of 8.3%

The report Nutritional Analysis Market by Parameter, Product Type (Beverages, Bakery & Confectionery, Snacks, Dairy & Desserts, Meat & Poultry, Sauces, Dressings, Condiments, Fruits & Vegetables, Baby Food), Objectives and Region – Forecast Year 2026″, is projected to grow from USD 5.4 billion in 2021 to USD 7.9 billion by 2026, at a CAGR of 8.3 % from 2021 to 2026. The growth of this market is projected to be driven by the increasing food safety regulations In the view of gaining the trust of target consumers for different types of food products in terms of quality, food safety certification plays an important role. Food safety certification conveys to consumers, the marketplace, employees, and key stakeholders that a food sector business has successfully met the requirements of a national or internationally recognized best practice approach. The certification by an objective third party can be invaluable to any business as it signifies good governance and corporate responsibility. The nutritional analysis market also features regulatory compliance and food labeling as one of their key functionalities that help drive the growth in terms of sales.

Nutritional Analysis Market

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Opportunities: Rapid industrialization and urbanization of the food & beverages sector to fuel the demand for nutrition analysis

The market for nutrition analysis in emerging economies is being linked to the rapid industrialization booming food trade with Europe (free trade agreements) and North America, a high proportion of the population that drives domestic consumption of food & beverages that utilize better quality water and the growing regulatory focus on protecting consumer well-being. These have led to the increasingly stringent enforcement of laws on food & water safety and environment (USDA, FDA).

An increase in industrialization in regions such as Asia Pacific and Africa has increased awareness among people related to food contamination. This, in turn, has resulted in the implementation of numerous food safety acts, which are the key opportunities for the food nutrition analysis market.

Vitamin Profile, by parameter, is estimated to hold the largest market share during the forecast period

Among the key parameters, the vitamin profile segment accounted for the largest share in 2020. The confluence of factors such as the increase in demand for health-oriented food products and the rise in availability of services, specifically catering to the vitamin profile, has altogether driven the segmental growth in terms of sales. However, during the forecast period, the fat profile segment is expected to witness the highest growth rate due to the rise in the number of health-conscious customers striving for fat-free food products.

Beverages, by product type, is estimated to hold the largest share in the nutritional analysis market during the forecast period

On the basis of product types, the beverages segment accounts for the largest share in 2020. This growth is attributable to the rise in the demand for different formats of beverages globally, specifically functional and fortified beverages, flavored beverages, and other similar beverages. The beverages and snacks segments together accounted for 35% share in the global nutritional analysis market based on product types.

North America is projected to account for the largest market during the forecast period

The North American nutritional analysis market has been growing steadily due to cases of foodborne disease outbreaks. The nutritional analysis market here is witnessing dynamic growth due to the increasing concerns related to how food is being processed, fermented, brined, or brewed, which requires proper lab testing.

The North American market is primarily driven by growth in the US and Canadian markets. The growth in these two countries can be attributed to a high stringency of food safety regulations, labeling laws, enforcement and effective monitoring of these laws, a significant focus on consumer protection and their interests, and several sample tests conducted in correspondence to food production and trade.

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Key players in this market include SGS SA (Switzerland), Intertek Group (UK), Eurofins Scientific (Luxembourg), Thermo Fisher Scientific (US), Bureau Vieritas (France), ALS (Australia), Mérieux NutriSciences (US), AsureQuality (New Zealand), TÜV Nord Group (Germany), Food Lab, Inc. (US), Compu-Food Analysis (US), NutriData (US), Certified Laboratories (US), Premier Analytical Services (UK), Microbac Laboratories (US).

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