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Global Nutritional Analysis Market: Innovations and Insights 2024
Nutritional Analysis Market
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According to The Business Research Company's, The nutritional analysis market size has grown strongly in recent years. It will grow from $5.56 billion in 2023 to $5.97 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to rise in diet-related diseases, consumer demand for transparency, scientific research and nutrition studies, globalization and diverse diets.
The nutritional analysis market size is expected to see strong growth in the next few years. It will grow to $8.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to e-commerce and food transparency, expansion of functional foods market, sustainability and ethical consumption, demand for allergen detection, regulatory changes in labeling. Major trends in the forecast period include consumer-generated data, holistic health focus, quantified self movement, precision nutrition demand, nutrigenomics advancements.
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Market Drivers and Trends:
The increasing consumer awareness and change in preference for consuming healthy food are expected to propel the growth of the nutritional analysis market. Nutritional analysis helps to understand the chemical composition, processing, quality control, and contamination of food, thus ensuring a good and healthy intake of food. A healthy diet helps to protect against malnutrition in all its forms and also protects against non-communicable diseases (NCDs), including heart disease, diabetes, stroke, and cancer. For instance, in January 2022, according to a survey report published by Nutrisystem, a US-based provider of weight loss products, among 2,000 participants, 53% of respondents expressed their goal for 2022 as shedding weight, with an average target of 14 pounds of weight loss. Therefore, the increasing consumer awareness and change in preference for consuming healthy food are driving the growth of the nutritional analysis market.
Major companies operating in the nutritional analysis market are developing advanced technologies, such as nutrition label assessment tools, to meet larger customer bases, increase sales, and increase revenue. A nutrition label assessment tool is software, or an application designed to analyze and interpret the nutritional information provided on food product labels. For instance, in December 2022, Kerry Group Plc, an Ireland-based food company, launched KerryNutri Guide. The distinctive feature of KerryNutri Guide is its ability to measure a wide array of foods and beverages against various front-of-pack nutrition labeling systems, offering users guidance toward achieving a better score. This online tool supports brands by assessing products against more than 10 global nutrient profile models, providing insights into nutritional scores and suggestions for improvement. The program examines the impact of a packaged food on end consumers by calculating energy, saturated fat, sugar, fiber, protein, and salt content using user-entered data. The nutritional scores for each input are then presented by KerryNutri Guide, emphasizing regions that may approach or exceed regulatory or dietary thresholds.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Thermo Fisher Scientific Inc., LabCorp Corporation, Quest Diagnostics Incorporated, SGS SA, Eurofins Scientific SA, Bureau Veritas SA, Intertek Group plc, Covance Inc., QIAGEN N.V., AsureQuality Limited, Microbac Laboratories Inc., Genova Diagnostics Inc., Mérieux NutriSciences Corporation, AWTA Ltd., Metametrix Inc., Cell Science Inc., Gujarat Laboratories Ltd., Doctor's Data Inc., MenuSano, NutriData, ALS Limited, TÜV NORD GROUP, Dairy Technical Services Limited, Food Lab Inc., Nutritional Information Solutions, Nettnutrition, Food Consulting Company, Friedman Health LLC, Nutrition Research Center Inc., Health Diagnostics Laboratory Inc., Nutrigenomics Inc., Health Labs Inc., PathGroup Inc.
Nutritional Analysis Market 2024 Key Insights:
• The nutritional analysis market size is expected to see strong growth in the next few years. It will grow to $8.39 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
• Rising Consumer Awareness Fuels Growth In Nutritional Analysis Market
• Advanced Nutrition Label Assessment Tool For Precise Evaluation And Enhancement Of Food Products
• North America was the largest region in the nutritional analysis market in 2023
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