The nutritional, vitamin & food supplement analytical services market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029, on account of growing consumer awareness associated with personal health and wellbeing. The growth of the market can also be attributed to factors such as the increasing working population worldwide struggling to fulfil the daily nutrient requirements on the back of hectic work schedules and changing lifestyle at a global level. According to the data collected from the World Bank, in 2018, the estimated working population was 3.42 billion which gradually increased in 2019, accounted to over 3.46 billion working population worldwide.
The market is segmented on food type into dairy products, fat & fat emulsions, fruit & vegetable products, cereals & cereal products, meat & meat products, fish & fish products, sweets & confectionery products, sweetening agents, salt & spices, beverages, and others, out of which, the meat and meat products segment is anticipated to dominate the global market. Moreover, the fruit & vegetable products segment is attributed to grow at a moderate rate owing to many outbreaks of food-borne illness at a global level.
On the basis of testing type, the microbiological testing segment in the global nutritional, vitamin & food supplement analytical services market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that it helps in detecting the microorganisms in edible food products including acid-resistant micro-organisms, heat-resistant microorganisms and faecal contamination using biological, chemical, biochemical and molecular methods, providing accurate results concerning their composition.
On the basis of geography, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increasing prevalence of food-related allergies among consumers across the region. Furthermore, in 2021, the market in Europe is evaluated to occupy the largest market share in terms of revenue on account of efforts undertaken by concerned agencies regarding the safety of edible products in the region. Along with this, North America also leads in terms of strengthening nutritional, vitamin, and food supplement analytical services, which is also expected to contribute to the market growth in the region. Alternatively, the market in the region is also anticipated to occupy a significant share owing to the norms mandated by the Food and Drug Administration (FDA) in the U.S. Additionally, the market in Latin America has a steady demand for such analytical services due to the growing consumption of packaged and processed edible products. The region was impacted severely due to JBS’s meat scandal in Brazil, which is attributed to result in the enforcement of strict government regulations across the country, resulting in the growth of the market. CLICK TO DOWNLOAD SAMPLE REPORT
The global nutritional, vitamin & food supplement analytical services market is further classified on the basis of region as follows:
Our in-depth analysis of the global nutritional, vitamin & food supplement analytical services market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing awareness associated with personal health and well-being as well as increasing working population.
The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.
Substitution threat from functional foods are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the increasing awareness about nutritional, vitamin & food supplement analytical services.
The major players dominating the nutritional, vitamin & food supplement analytical services market is SGS SA., MediPharm Labs., Pluton Biosciences, Inc., Barrow-Agee Laboratories, NUTRASCIENCE LABS., BRS Lab Services and others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by testing type, technology, food type and region.
With respect to testing type, the microbiological testing segment is anticipated to hold the largest market share owing to the growing prevalence of food-related allergies among the consumers at the global level.
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