The global shelf-life testing market is evaluated at US$3.460 billion for the year 2020 and is projected to grow at a CAGR of 6.53% to reach a market size of US$5.389 billion by the year 2027.
The shelf-life testing methods are employed to test and calculate the freshness, quality, and expiry date of packaged foods, beverages, cosmetics, and medicines. 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 rising 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 recent outbreak of the COVID-19 pandemic has negatively affected the market growth of the shelf-life testing market. The food, cosmetics, beverage, and medical industries are the major sectors contributing to the growth of the shelf-life testing market. The lockdowns and isolations imposed by the government as a measure to prevent the spread of the COVID-19 pandemic have hindered the market growth of food and processed food industries. The shutdown of hotels and restaurants resulted in the decline of the global processed and fast-food markets. The lesser functioning of hotels and restaurants decreased the need for shelf-life testing to a certain extent. People were restricted to their homes as a result of the lockdown, which also resulted in less consumption of fast foods, resulting in the downfall of the global shelf-life testing market. The COVID-19 pandemic also adversely affected the supply chain of fast and processed foods. The regulations imposed by the governments decreased the import and export rates of processed food and cosmetics, which decreased the demand for and market for shelf-life testing associated with them.
Introduction of Food Safety Regulations
Food safety regulations are strictly controlled by governmental institutions. The need for food safety and food quality is making governmental organizations focus on the 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. As per the survey by WFP (World Food Programme), about 30% of youngsters eat fast foods in their daily routine. 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
The modernization of people's lifestyles is fuelling the consumption and use of processed food in the global market. More than 50% of working-class people are now dependent on fast food and processed foods, according to WFP (World Food Programme). The easy consumption and fast preparation of processed foods are attracting people toward fast-food consumption. The increasing consumption and use of packaged food is 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.
Significant Growth in the Asia-Pacific Geographically, the Asia-Pacific region is expected to witness a drastic growth in the shelf-life testing market in the forecasted years. The increasing number of shelf-life testing laboratories in Asian countries and increasing cases of foodborne diseases and food infections in the Asia-Pacific region are boosting the market of shelf-life testing for the Asia-Pacific region.
|Market size value in 2020||US$3.460 billion|
|Market size value in 2027||US$5.389 billion|
|Growth Rate||CAGR of 6.53% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Parameter, Food Tested, Method, Technology, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||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.|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What will be the shelf-life testing market size by 2027?
A1. The global shelf-life testing market is projected to reach a total market size of US$5.389 billion in 2027.
Q2. What are the growth prospects for the shelf-life testing market?
A2. The shelf-life testing market is projected to grow at a CAGR of 6.53% during the forecast period.
Q3. What is the size of the global shelf-life testing market?
A3. Shelf-Life Testing Market was valued at US$3.460 billion in 2020.
Q4. What factors are anticipated to drive the shelf-life testing market growth?
A4. The rising safety regulations and food safety policies of the government are giving potential to the shelf-life testing market growth.
Q5. Which region holds the largest market share in the shelf-life testing market?
A5. Geographically, the Asia Pacific region is expected to witness significant growth in the shelf-life testing market.
Intertek Group Plc
R J Hill Laboratories Limited
Eurofins NSC US Inc.
Microchem Lab services (Pty) Ltd.
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