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Packaging Testing Market by Top Key Players, Industry Growth, Analysis Report 2019 to 2024| CAGR between 11% to 12%

12-05-2018 02:07 PM CET | Industry, Real Estate & Construction

Press release from: Axiom Market Research & Consulting

Packaging Testing Market Report | CAGR 11% to 12%

Packaging Testing Market Report | CAGR 11% to 12%

The global packaging testing market is segmented based on type, technology, and end-user. The global market, based on type, is segmented into physical, chemical, and microbiological. The physical segment dominated the market with the largest share in 2017 since the determination of physical properties of a product is an essential application for packaging testing. The global market, based on technology, is segmented into physical tests, spectroscopy & photometric-based, chromatography-based, and others which include chemical test, molecular, and isotope methods. The physical tests segment dominated the market in 2017. The spectroscopy & photometric-based segment is projected to grow at the highest CAGR of 12.0% from 2019 to 2024. The global market, based on end-use industry, is segmented into food & beverage, agrochemicals, pharmaceuticals, personal care, and others which include various industries such as textile, automobile, transportation, environmental, and other consumer goods.

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Global packaging testing market studied for key regions such as, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America comprises U.S., Canada, and Mexico whereas Europe would primarily cover Germany, France, UK, Italy, and Rest of Europe. The key countries included under Asia Pacific are China, Japan, India, Australia, and Rest of Asia Pacific. In Latin America, Brazil, Argentina, and Rest of Latin America are the key segments whereas in Middle East & Africa, South Africa and Rest of MEA are the key segments covered in the report. The North American region is projected to dominate the packaging testing market by 2024. The Asia-Pacific region is projected to be the fastest-growing market during the forecast period since the demand from the food & beverage industry is projected to increase in the coming years.

The packaging industry is continuously indulging with the same becoming more than just a protective outer layer. Packaging serves the most crucial need of the product by protecting it, which in turn acts as a prospect for the packaging manufacturer to design such a package that could easily attract the consumer attention towards their product. Packaging is also being altered to suit the needs of the fast food consumer who are rapidly replacing traditional meals with packaged foodstuff. This has led to an increase in the need for testing the package of products in order to ensure the long shelf life and reduction in any sort of costs involved right from packaging till it is being delivered to the end customer. Packaging plays a significant part in the assurance of the quality and integrity of the product inside. It not only affects the product but also manifests itself in the end product in which the product is used. The global packaging testing market is estimated to be growing at a CAGR between 11% to 12% from 2019 to 2024.

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The growth of the global packaging testing market is largely driven by factors such as increase in demand for packaging industry, and ever-changing lifestyles which has increased the need for ready to eat meals and a necessitated their packages to be tested. In addition, the rising consumer awareness towards sustainable packaging and safe packaging will also drive the demand for packaging testing in the projected period. However, non-implementation of the testing regulations in some developing regions and non-compliance by packaging manufacturers have led to be the major factor restraining the growth of this market. However, the FDA is making sure to implement and compulsive all the packaging products to be tested before they are send for packaging.

The packaging testing marketspace comprises major players such as SGS S.A. (Switzerland), Bureau Veritas SA (France), Intertek Group Plc. (U.K.), Eurofins Scientific SE (Luxembourg), TÜV SÜD AG (Germany), and ALS Limited (Australia). Other major players in the market include Mérieux NutriSciences Corporation (U.S.), National Technical Systems, Inc. (U.S.), Microbac Laboratories, Inc. (U.S.), EMSL Analytical Inc. (U.S.), Campden BRI (U.K.), and Institut fur Produktqualitat GmbH (Germany)

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About Us:

Axiom Market Research & Consulting™, a global market research firm driven with a simple aim of providing key actionable data to companies for taking informed business decisions pertaining to their marketing strategy, investments, new product launch, market competition etc.

Our creative research approaches help us to extract, analyze and compare markets along with peer markets, main or parent market, application and end user industries, competitive landscape and qualitative figures to arrive at market numbers. Backed by a team of experienced analyst, who have worked with leading research firms and delivered number of Market research projects globally, Axiom Market Research & Consulting is able to cater to all market research and business consulting requirements.

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Manish Shelar
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