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nutritional analysis market

Nutritional Analysis Market Share, Size, Trends, Industry Analysis Report, By Objective (New Product Development, Product Labeling, Regulatory Compliance); By Parameter; By Product Type; By Region; Segment Forecast, 2022 - 2030

  • Published Date: May 2022
  • Pages: 111
  • Format: PDF
  • Report ID: PM2421
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global nutritional analysis market was valued at USD 5.42 billion in 2021 and is expected to grow at a CAGR of 8.1% during the forecast period. The changing lifestyle of the population, coupled with a rising inclination toward packed food, are the major factors that foster food analysis market growth around the world.

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Additionally, the imposition of food safety and nutritional labeling regulations, rising spending on R&D activities, and rising penetration of e-commerce channels are also anticipated to surge the nutritional analysis industry demand. Nutritional analysis is gaining huge traction among various applications to gather information about food appearance, shelf life, composition, flavor, texture, and many others.

Moreover, rising disposable income, growing awareness regarding the quality of the food products, and high prevalence of chronic diseases are the further factors that are offering various lucrative prospects for nutritional analysis industry growth in the forecasting years.

At the onset of the COVID-19, the nutritional analysis market continued to show a substantial growth rate worldwide. During this period, the government of the various region has executed stringent lockdown policy and social distancing norms to prevent the spread of coronavirus among the population.

Thereby, these restrictions have negatively influenced the capital investments in various sectors that hinder the nutritional analysis industry growth worldwide. Though the growing need for quality food and numerous nutritional supplements for boosting the immune system is likely to play a major role in the food analysis market growth. Moreover, the gradual opening of lockdown, flourishing growth of the e-commerce industry, and globalization of food traded are fueling the nutritional analysis industry demand in the estimated years.

Industry Dynamics

Growth Drivers
The thriving growth of the retail food sector is anticipated to bolster the market demand across the globe. It is majorly applied in packed foods as a nutrition fact panel, owing to changes in labeling requirements also enforcing industry players to use nutritional analysis, which may lead to the nutritional analysis market expansion.

Accordingly, this technology assists in creating goodwill for the company by ensuring that the products are safe to consume and providing detailed information about the product ingredients. Additionally, growing consumer needs for nutritional and safe food are further likely to propel the demand for nutritional analysis. Also, various regulatory bodies have executed stringent regulations associated with food safety and superior quality. Moreover, the exponential growth of the packed and processed food demand is further augmenting the food analysis market growth.

For instance, according to the National Investment Promotion & Facilitation Agency, in 2016, the Indian processed food market was recorded at approximately USD 322 billion and is anticipated to grow to nearly USD 543 billion by 2020 with a growth rate of 14.6%. Thereby, the development of the processed food sector is also acting as catalyzing factor, which, in turn, impelling the global nutritional analysis market growth in the near future.

Report Segmentation

The market is primarily segmented on the basis of parameter, product type, objective, and region.

By Parameter

By Product Type

By Objective

By Region

  • Vitamin Profile
  • Proteins
  • Fat Profile
  • Sugar Profile
  • Total Dietary Profile
  • Mineral Profile
  • Cholesterol
  • Calories
  • Moisture
  • Others
  • Beverages
  • Snacks
  • Bakery & Confectionery
  • Meat & Poultry
  • Sauces, Dressings, & Condiments
  • Dairy & Desserts
  • Fruits & Vegetables
  • Edible Fats & Oils
  • Baby Foods
  • Others
  • New Product Development
  • Product Labeling
  • Regulatory Compliance
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Parameter

The vitamin profile segment is recorded to hold the largest revenue share. The growing awareness regarding the vitamin profile and increasing demand for health-oriented food products are furling the segment demand. Vitamin Profiles help in the management of nutritional imbalances and deficiencies.

Additionally, it also enables the identification of a particular vitamin, nutrient, and other co-factors that can lead to incidences of chronic disorders. Moreover, a vitamin profile test is also highly adapted to keep track of vitamin levels and further nutrients in the blood. This supports the recognition of shortages in the body that creates various health problems. Thus, the rising number of health-conscious customers and the growth of the food industry are accelerating the segment growth around the world.

The mineral profile segment is projected to witness the highest growth rate in the forecasting years. Minerals are one of the essential components of the body's wellbeing. It is consumed by the body to carry out various functions such as maintaining muscles, bones, heart, and brain in competent functioning of these parts.

Also, they are also needed for hormone and enzyme synthesis. The growing investment in the R&D activities by the leading industry players and the rising technological developments are the factors that are projected to surge the segment demand over the forthcoming years.

Geographic Overview

North America accounted for the largest revenue share in the global market. The growing expenditure on technological advancements, increasing investment in R&D activities, coupled with rising health awareness are the major factors that are propelling the food analysis market growth in the region. Additionally, surging demand for nutritional food, as well as the growth of the e-commerce sector, are anticipated to augment the food analysis industry growth. Furthermore, the presence of leading organizations in the region such as Certified Laboratories, Microbac Laboratories, Food Lab, Inc., Thermo Fisher Scientific, and many others is also accelerating the demand across the region.

Moreover, the Asia Pacific is anticipated to exhibit the highest CAGR over the forecasting years. The rapid growth of the food & beverage industry, increasing industrialization, and growing public and private sector investments are the major factors that are attributed to the regional growth. In addition, the increasing population, growing demand for nutritional labeling of food, and growth of developing countries such as China, India, and Australia are further acts as bolstering the market growth.

For instance, according to the Indian Brand Equity Foundation (IBEF), the Indian food & grocery market is recorded as the sixth-leading nation globally, with retail contributing 70% of the sales. Furthermore, the implementation of strict rules & regulations for food safety, as well as the rising prevalence of food-borne diseases, would also create lucrative opportunities for the surging market demand in the forecasting years.

Competitive Insight

Some of the major players operating in the global market include ALS LTD, Asurequality Ltd, Bureau Veritas, Certified Laboratories, Eurofins Scientific, Food Lab Inc., Intertek Group Plc, Merieux Nutrisciences Corp., Microbac Laboratories, Inc., Nutridata, Premier Analytical Services, SGS SA, Thermo Fisher Scientific, Inc., and TÜV Nord Group.

Nutritional Analysis Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 5.42 Billion

Revenue forecast in 2030

USD 10.44 Billion

CAGR

8.1% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD Billion and CAGR from 2022 to 2030

Segments covered

By Parameter, By Product Type, By Objective, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

ALS LTD, Asurequality Ltd, Bureau Veritas, Certified Laboratories, Eurofins Scientific, Food Lab Inc., Intertek Group Plc, Merieux Nutrisciences Corp., Microbac Laboratories, Inc., Nutridata, Premier Analytical Services, SGS SA, Thermo Fisher Scientific, Inc., and TÜV Nord Group

Key Take-Away
Polaris Market Research
Global Nutritional Analysis Market Size Report, 2022 - 2030