The report "Nutritional Analysis Market by Parameter, Product Type (Beverages, Bakery & Confectionery, Snacks, Dairy & Desserts, Meat & Poultry, Sauces, Dressings, Condiments, Fruits & Vegetables, Baby Food), Objectives and Region - Forecast Year 2026", published by MarketsandMarkets™, is projected to grow from USD 5.4 billion in 2021 to USD 7.9 billion by 2026, at a CAGR of 8.3 % from 2021 to 2026. The growth of this market is projected to be driven by the increasing food safety regulations. In the view of gaining the trust of target consumers for different types of food products in terms of quality, food safety certification plays an important role. Food safety certification conveys to consumers, marketplace, employees, and key stakeholders that a food sector business has successfully met the requirements of a national or internationally recognized best practice approach. The certification by an objective third party can be invaluable to any business as it signifies good governance and corporate responsibility. The nutritional analysis market also features regulatory compliance and food labeling as one of their key functionalities that help drive the growth in terms of sales.
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Vitamin Profile, by parameter, is estimated to hold the largest market share during the forecast period
Among the key parameters, the vitamin profile segment accounted for the largest share in 2020. The confluence of factors such as the increase in demand for health-oriented food products and the rise in availability of services, specifically catering to the vitamin profile, has altogether driven the segmental growth in terms of sales. However, during the forecast period, the fat profile segment is expected to witness the highest growth rate due to the rise in the number of health-conscious customers striving for fat-free food products.
Beverages, by product type, is estimated to hold the largest share in the nutritional analysis market during the forecast period
On the basis of product types, the beverages segment accounts for the largest share in 2020. This growth is attributable to the rise in the demand for different formats of beverages globally, specifically functional and fortified beverages, flavored beverages, and other similar beverages. The beverages and snacks segments together accounted for 35% share in the global nutritional analysis market based on product types.
Product labelling, by objective, is estimated to account for the largest market share during the forecast period
The product labeling segment of the nutritional analysis market accounted for the largest share in 2020 due to the rise in the demand for clean-label food products. The dominance is also attributable to the recent trend among health-conscious consumers that desire transparency in food products purchased or consumed. Nutritional labeling has received considerable attention in the food industry due to the rising consumer interest in terms of health & diet issues. Food labels are a source of information and are most often the first means for directly connecting with a consumer. Accurate nutritional labeling of food products is a useful tool to market products to diverse niche customers. The millennial population has a wider dietary choice and is health, quality, and safety conscious. Hence, they demand accurate nutritional information on processed food products.
North America is estimated to hold the largest market share during the forecast period
North America dominated the nutritional analysis market due to the strong R&D, technology innovation, and increased mergers and acquisitions in nutritional analysis in the region. The North American nutritional analysis market has been growing steadily due to cases of foodborne disease outbreaks. The nutritional analysis market here is witnessing dynamic growth due to the increasing concerns related to how food is being processed, fermented, brined, or brewed, which requires proper lab testing. Food labeling is subject to increasingly complex regulations globally. Ensuring food products are correctly labeled according to local, regional, and international laws can be a challenging task. Canada is the fastest-growing country in the North American nutritional analysis market, at a CAGR of 8.9% during the forecast period.
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Key Players:
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the nutritional analysis market. It consists of the profiles of leading companies such as SGS SA (Switzerland), Intertek Group Plc (UK), Eurofins Scientific (Luxembourg), Bureau Veritas (France), ALS Limited (Australia), Mérieux NutriSciences (US), Thermo Fisher Scientific (US), AsureQuality Limited (New Zealand), TÜV Nord Group (Germany), and DTS Food Laboratories (France).
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