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Packaged Food Shelf Life Testing Market Share, Size, Growth Rate, Trends Analysis And Forecast To 2033
Packaged Food Shelf Life Testing Market
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According to The Business Research Company's, The packaged food shelf life testing market size has grown strongly in recent years. It will grow from $4.83 billion in 2023 to $5.3 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to regulatory compliance, consumer demand for quality assurance, globalization of food supply chains, increasing complexity of packaged food products, brand protection and reputation management.
The packaged food shelf life testing market size is expected to see strong growth in the next few years. It will grow to $7.64 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to stringent food safety regulations, rising demand for natural and fresh products, increased emphasis on sustainability, globalization challenges and supply chain risks, e-commerce growth and changing retail landscape, public health concerns. Major trends in the forecast period include expansion of global supply chains, integration of iot and smart packaging, stringent regulatory requirements, customization of testing protocols for different foods, growing demand for plant-based and functional foods.
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Market Drivers and Trends:
The increasing incidence of foodborne illnesses is expected to propel the growth of the packaged food shelf-life testing market going forward. Foodborne illnesses refer to illnesses caused by the consumption of contaminated food or beverages. Packaged food shelf-life testing plays an important role in preventing foodborne illnesses by ensuring that products remain safe for consumption over their designated storage periods, mitigating the risk of microbial contamination, and safeguarding consumer health through the maintenance of quality and safety standards. For instance, in August 2023, according to the Centers for Disease Control and Prevention, a US-based government agency, an estimated 48 million people got sick from a foodborne illness, 128,000 were hospitalized, and 3,000 died in the United States. Therefore, the increasing incidence of foodborne illnesses is driving the growth of the packaged food shelf-life testing market.
Technological advancements are a key trend gaining popularity in the packaged food shelf-life testing market. Major companies operating in the market are introducing advanced technologies to gain a competitive edge in the market. For instance, in May 2022, SAVRpak, a US-based food technology innovation company launched SAVRpak Drop-In, which works on moisture control technology that reduces excess moisture, condensation, and bacteria, thus extending the shelf-life of packaged produce including berries, leafy greens, grapes, and mini cucumbers. It controls the oxygen and carbon dioxide levels in packaged produce to maintain freshness for up to four times longer.
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Major Key Players of the Market:
SGS SA, AES Laboratories Pvt. Ltd., Agrifood Technology, ALS Ltd., AsureQuality Limited, Bureau Veritas, EMSL Analytical Inc., EnviroLogix Inc., Eurofins Scientific SE, Intertek Group plc, Mérieux NutriSciences Corp., Premium Analytical Services, RJ Hill Laboratories, SCS Global Services, Symbio Laboratories Pty. Ltd., Microbac Laboratories Inc., Silliker Inc., Covance Inc., TÜV SÜD AG, NSF International, Underwriters Laboratories LLC, DNV GL, Lloyd's Register Group Limited, Kiwa NV, Q Laboratories Inc., Romer Labs Diagnostic GmbH, 3M Food Safety, Accugen Laboratories Inc., Advanced Analytical Testing Laboratories Inc., Analytical Food Laboratories, Bio-Rad Laboratories Inc., CEM Corporation, Certified Laboratories Inc., Charles River Laboratories International Inc., EAG Laboratories
Packaged Food Shelf Life Testing Market 2024 Key Insights:
• The packaged food shelf life testing market size is expected to see strong growth in the next few years. It will grow to $7.64 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.
• Rising Demand For Packaged Foods Fuels Packaged Food Shelf-Life Testing Market Growth
• Tech Advancements Revolutionize Packaged Food Shelf-Life Testing Market
• Europe was the largest region in the packaged food shelf life testing market in 2023
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