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Nutritional Analysis Market To Cross $8.2 Bn By 2031

May 06, 2024 (MENAFN via COMTEX) --

(MENAFN - EIN Presswire)

A rise in the consumption of nutritious food and activities such as calories and macros tracking among consumers has increased the importance of nutritional analysis." - Allied Market Research

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, May 6, 2024 /EINPresswire / -- Allied Market Research published a report, titled,"Nutritional Analysis Market by Analysis Type (Laboratory Testing and Nutritional Database Testing), Product Type (Bakery & Confectionery, Snacks, Dairy, Meat Products, and Others), and Nutrient (Macronutrients and Micronutrients): Global Opportunity Analysis and Industry Forecast 2022-2031". According to the report, the global Nutritional analysis industry generated $4.9 billion in 2021, and is anticipated to generate $8.2 billion by 2031, witnessing a CAGR of 5.5% from 2022 to 2031.

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Prime determinants of growth

The emergence of strict guidelines regarding food quality in developed countries and the surge in demand for packaged and processed food drive the growth of the global nutritional analysis market. On the other hand, many manufacturers happen to provide inaccurate information about the formulation of their ingredients in products or manipulate test results which restrains the market growth to some extent. However, a rise in living standards and an increase in investments in food production are expected to pave the way for lucrative opportunities for the key players in the industry.

The laboratory testing segment to maintain its leadership status throughout the forecast period

Based on analysis type, the laboratory testing segment held the highest market share in 2021, accounting for more than two-thirds of the global nutritional analysis market revenue, and is estimated to maintain its leadership status throughout the forecast period, as it aids in providing precise nutrient values in food, which aids in the creation of accurate nutritional labeling for packaged foods which are compliant with the food restrictions of the location where the food is created. However, the nutritional database testing segment is projected to manifest the highest CAGR of 6.2% from 2022 to 2031, as this technique is less expensive because food makers only need to submit their component names and the number of ingredients used to nutritional analysis businesses rather than a selected sample of the packaged foods. Several companies also offer downloaded software for nutritional analysis at subscription prices, making it more profitable.

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The bakery and confectionery segment to maintain its lead position throughout the forecast period

Based on product type, the bakery and confectionery segment held the highest market share in 2021, accounting for nearly one-third of the global nutritional analysis market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is expected to portray the largest CAGR of 5.8% from 2022 to 2031, owing to the nature of the production process and the number of ingredients used in bakery and confectionery products.

The macronutrients segment to maintain its leadership status throughout the forecast period

Based on nutrients, the macronutrients segment accounted for the largest share in 2021, contributing to nearly two-thirds of the global nutritional analysis market revenue, and is projected to maintain its lead position during the forecast period, as nutritional analysis of food focuses primarily on macronutrients in the food to provide precise facts about the nutritional composition of the food and to assist consumers in making appropriate decisions about the purchase of dietary products that are suited for their needs. However, the micronutrients segment is expected to portray the largest CAGR of 5.8% from 2022 to 2031, due to the growing consumer awareness of the significance of ingesting such nutrients, combined with the increased use of convenience foods that lack such nutrients, which has resulted in an increase in fortification of packaged foods with such macronutrients by manufacturers.

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global nutritional analysis market revenue and is projected to maintain its lead position during the forecast period, owing to the increasing customer demand for functional ingredients in foods, processed food, meal replacements, and on-the-go packaged food items, along with increased efforts by regional food manufacturers to meet regulatory compliances for the food manufacturing process. However, Asia-Pacific is expected to witness the fastest CAGR of 6.8% from 2022 to 2031, as the majority of the nations that make up this region are still developing, which has resulted in an increase in middle-class population, higher living standards, and more health consciousness among the people in this region. More emphasis is being placed on the nutritional composition of food, which creates business potential in the region.

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Leading Market Players: -

â?¨ALS Limited
â?¨Bureau Veritas SA
â?¨Compu-Food Analysis
â?¨Eurofins Scientific
â?¨Food Lab, Inc.
â?¨Intertek Group PLC
â?¨Lifeasible
â?¨MENUSANO
â?¨Microbac Laboratories, Inc.
â?¨Opal Research And Analytical Services
â?¨Pat-Chem Laboratories LLC
â?¨SGS SA
â?¨Test Needs Australia
â?¨Thermo Fisher Scientific, Inc.
â?¨TUÌ?V SUÌ?D.

The report provides a detailed analysis of these key players in the global nutritional analysis market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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