The global nutritional analysis market size is estimated to be valued at USD 5.4 billion in 2021 and projected to reach USD 7.9 billion by 2026, recording a CAGR of 8.3% during the forecast period. The market is strongly driven by shifting consumer preferences, rising health awareness, growing millennial population, and increase in supplementary income among consumers.
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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.
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).
As per the report “FROM PROMISE TO IMPACT: ENDING MALNUTRITION BY 2030,” to meet the key global nutrition milestones set by the WHO, governments and donors will need to triple their commitments toward nutrition over the next decade. Governments should increase their spending and introduce consequent improvements in nutrition to deal with malnutrition. At the same time, civil society organizations, donors, and businesses need to put more efforts to ensure budgets in various sectors—agriculture, education, food systems, health systems, social protection, and water sanitation, and hygiene—allocate more resources to end malnutrition in all its forms.
The market for nutrition analysis in emerging economies is being linked to the rapid industrialization booming food trade with Europe (free trade agreements) and North America, a high proportion of the population that drives domestic consumption of food & beverages that utilize better quality water and the growing regulatory focus on protecting consumer well-being. These have led to the increasingly stringent enforcement of laws on food & water safety and environment (USDA, FDA).
An increase in industrialization in regions such as Asia Pacific and Africa has increased awareness among people related to food contamination. This, in turn, has resulted in the implementation of numerous food safety acts, which are the key opportunities for the food nutrition analysis market.
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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.