Shelf-life testing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Shelf-Life Testing Market covers analysis by Parameter (Microbial Contamination, Rancidity, Nutrient Stability, Organoleptic Properties, and Others), Food Tested (Packaged Food, Beverages, Bakery and Confectionery Products, Meat and Meat Products, Dairy and Dairy Products, Desserts, Processed Fruits and Vegetables, and Others), Method (Real-Time Shelf Life Testing and Accelerated Shelf-Life Testing), Technology (Equipment and Kit-Based and Manual Tests), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00004896
  • Category : Food and Beverages
  • Status : Upcoming
  • No. of Pages : 150
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The shelf-life testing market is expected to grow from US$ 4.49 billion in 2021 to US$ 8.50 billion by 2028; it is estimated to grow at a CAGR of 8.9% between 2022 and 2028.

The food processing industry has been flourishing rapidly over the years. Also, the demand for packaged and ready-to-eat food products is growing substantially. Consumers prefer to easy-to-cook packaged food products due to their hectic lifestyles. Furthermore, the increasing incidence of foodborne illness and food poisoning puts pressure on food manufacturers to apply shelf-life testing. All these factors are propelling the shelf-life market growth.

MARKET DYNAMICS
Shelf-life testing is done in a laboratory to determine the expected shelf-life of a food product and when it should be consumed. The test ensures that the product is safe for consumption. It also lowers the likelihood of product recalls; identifies the causes of decreased shelf life; helps improve products, processes, and profitability. The introduction of stringent safety regulations for food products and the increasing outbreak of foodborne illnesses propel the shelf-life testing market growth. Moreover, the surging demand for packaged and convenience food products contributes to the market growth.

MARKET SCOPE
The "Global Shelf-Life Testing Market Forecast to 2028" report aims to provide an overview of the shelf-life testing market with detailed market segmentation based on parameter, food tested, method, and technology. The report provides key statistics based on the financial performance of the leading market player. It also offers key trends and opportunities in the shelf-life testing market.

Strategic Insights

MARKET SEGMENTATION
The global shelf-life testing market is segmented on the basis of parameter, food tested, method, and technology. Based on parameter, the market is segmented into microbial contamination, rancidity, nutrient stability, organoleptic properties, and others. In terms of food tested, the market is segmented into packaged food, beverages, bakery and confectionery products, meat and meat products, dairy and dairy products, desserts, processed fruits and vegetables, and others. Based on method, the global shelf-life testing market is bifurcated into real-time shelf-life testing and accelerated shelf-life testing. By technology, the market is segmented into equipment and kit-based and manual tests.


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REGIONAL FRAMEWORK
The global shelf-life testing market is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America. The report covers the analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in the region.

From the regional perspective, Europe dominates the shelf-life testing market. The market growth in Europe is driven by the highest number of testing laboratories with a high number of samples tested in the world. Further, there are many stringent regulations in the region regarding the food safety that undergo frequent updates. As a result of strict regulatory enforcement throughout the stages in the food supply chain, the highest number of sample tests are conducted in Europe for safety and quality purposes. The below figure shows the revenue growth trend in the shelf-life testing market in Europe:

Shelf-life Testing MarketSource: The Insight Partners Analysis

The report analyzes factors, such as drivers, restraints, opportunities, and future trends, which impact the growth of the shelf-life testing market. The report also provides exhaustive Porter's five forces analysis highlighting the factors affecting the market in these regions.

IMPACT OF COVID-19 PANDEMIC

During the COVID-19 pandemic, the food and beverage industry faced unprecedented challenges due to the shortage in raw material supply, the shutdown of factories, labor shortage, and other operational difficulties under pandemic safety protocols. The shutdown of manufacturing units, difficulty in the procurement of raw materials, and restriction on logistics have negatively impacted the shelf-life testing market. The outbreak had distorted operational efficiency and disrupted the value chains due to the sudden shutdown of national and international boundaries, creating revenue loss and damage. The initial lockdown in various countries certainly affected the production of food products, hence affecting the shelf-life testing market negatively. Following state and regional guidelines, manufacturers implemented extensive measures to protect the health and safety of their employees. Many global manufacturers temporarily closed their operations or limited the production capacity. Also, in the early period of crisis, manufacturers were majorly dependent on inventory. Along with this, due to the lockdown during the pandemic, the food and hospitality facilities such as restaurants and hotels were closed down which had a negative impact on the shelf-life testing market. The closure of distribution facilities such as supermarkets & hypermarkets and specialty stores also negatively impacted the shelf-life testing market.  

World Geography

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MARKET PLAYERS

The reports covers key developments in the shelf-life testing market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, and patents and events. In addition, acquisitions, and partnership & collaborations are among the inorganic growth strategies witnessed in the market. These activities have paved way for the expansion of business and customer base of market players. The players operating in the shelf-life testing market are anticipated to experience lucrative growth opportunities in the future due to the rising demand for shelf-life testing.

The report includes the profiles of key shelf-life testing market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information, such as company profiles, components and services offered, financial information of last three years, and key development in past five years.
Below mentioned is the list of a few companies engaged in the shelf-life testing market.

  • TÜV SÜD
  • Mérieux
  • AsureQuality
  • RJ Hill Laboratories
  • Intertek Group plc
  • SCS Global
  • Agrifood Technology
  • Symbio Laboratories
  • Microchem Lab Services
  • Premier Analytical Services

The Insight Partner's research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Market Research

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Parameter, Food Tested, Method, Technology, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

The List of Companies

  • TÜV SÜD
  • Mérieux
  • AsureQuality
  • RJ Hill Laboratories
  • Intertek Group plc
  • SCS Global
  • Agrifood Technology
  • Symbio Laboratories
  • Microchem Lab Services
  • Premier Analytical Services

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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