The shelf-life testing market is estimated to be valued at USD 3.39 billion in 2018 and is projected to reach USD 4.76 billion by 2023, at a CAGR of 7.0%. The market is driven by stringent safety regulations for food products, increase in the outbreak of foodborne illnesses, and growth in demand for packaged and convenience foods.
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- SGS (Switzerland)
- Bureau Veritas (France)
- Intertek (UK), Eurofins (Luxembourg)
- ALS Limited (Australia)
- TÜV SÜD (Germany)
- TÜV NORD GROUP (Germany)
- Mérieux (US)
SGS primarily offers inspection, verification, testing, certification, and quality assurance services. It has a strong reputation for solutions that deliver a competitive advantage to customers in areas such as food testing, agricultural testing, environmental testing, and materials testing. The company has many R&D centers and adopts new techniques as per technological advancements. It focuses on strategic expansions to increase its capacity and strengthen its business network. For instance, in July 2017, SGS acquired an agriculture and food testing laboratory in Mississauga, Ontario (Canada). This acquisition helped the company strengthen its microbiology and food chemistry testing services and offer clients full-service offerings for food and agricultural testing in Canada.
Eurofins is one of the leading shelf-life testing service providers for food products due to its global presence and strong service infrastructure. This infrastructure helps it cope during peak periods of testing demand from clients. The major strengths of the company are its widespread global network and its testing services of superior technical quality and regulatory thoroughness. The company continues to witness significant growth by way of constant acquisitions. In April 2018, Eurofins signed an agreement with LabCorp to acquire its food testing and consulting business, i.e., Covance Food Solutions, for USD 670 million. This is expected to help Eurofins expand its presence in North America, the UK, and Asia since Covance Food Solutions operates through an integrated network of 12 facilities across the globe with 9 in the US, 2 in the UK, and 1 in Asia.
Intertek is a provider of quality and safety services. The company focuses on increasing its services in new as well as existing markets, which will allow it to capture new businesses. It also invests in new services and capabilities to support its clients’ current and future needs and to expand in the growing markets. It has been continuously improving its services through new and advanced technologies to create opportunities in the shelf-life testing market. Intertek has created a strong geographical network and supply chain due to which it has efficient service capabilities for the testing of food samples for shelf life.
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The shelf-life testing market, by technology, is projected to be dominated by the equipment- & kit-based segment and is also projected to grow at a higher rate during the forecast period. This segment consists of both, traditional and rapid systems, which are highly preferred by manufacturers because of their ability to provide faster and more reliable results.
The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023. Growth in the Asia Pacific region can be attributed to factors such as growth in the number of shelf-life testing laboratories in India and China, the rise in the number of incidences of bacterial infectious diseases in the region, and growing adoption of convenience and packaged food on the region.