The global Lipid testing market for food & beverages is estimated to be valued at US$ 1062.1 Mn in 2021, according to the Lipid Testing Market for Food & Beverages Report, by Technology (Recent, and Traditional), by Application (Food and Beverages, and Food Ingredients), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
The global Lipid testing market for food & beverages is expected to surpass US$ 1,491.54 million by 2028, exhibiting a CAGR of 4.97% during the forecast period (2021-2028). The global demand for lipid testing is rising, owing to changing consumer lifestyles. According to the report by the National Centre for Biotechnology Information (NCBI), the consumption of different types of fast foods, read to eat foods and quick nutrition foods is increasingly growing in all parts of the world, both in developed and developing countries. These eating habits can lead to various health-related problems due to cholesterol accumulation in the blood. The presence of high cholesterol can develop fatty deposits in the blood vessels. A large amount of consumption of unhealthy food causes various health-related issues such as heart attack, obesity, mental health related issues, and inadequate growth and development of the body.
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Browse 50 market data tables* and 40 figures* on "Lipid Testing Market for Food & Beverages” - Global Forecast to 2028.
Key Trends and Analysis of the Global Lipid Testing Market for Food & Beverages:
- Among regions, North America dominated the lipid testing market for food & beverages in 2020. The market growth can be attributed to the presence of large number of food safety testing players such as Intertek Group Plc., Microbac Laboratories Inc., General Mills Inc. and others and stringent regulations such as maintain nutritional qualities in the packaged food and mentioning all the contents present in the food on packaging or labels pertaining to food safety in the region. North America lipid testing market for food & beverages was valued at US$ 355.85 Mn in 2020 and is projected to increase to US$ 524.56 Mn by 2028, witnessing a CAGR of 5.7% during the forecast period.
- Strategic mergers and acquisitions, collaborations, and business expansions are the key strategies adopted by key players to retain their market share. For instance, In July 2021, Warburg Pincus has announced the merger with Food Safety Net Services (FSNS), a provider of laboratory testing services for customers in the food and beverage end-markets. The company serves a broad range of product categories within the food and beverage sector. The merger will create a leading, national testing platform for the Warburg Pincus. This merger will help to grow the lipid testing market for food and beverages as it will accelerate the expansion of its geographic footprint of the company by improving its service offerings for the food testing.
Key Takeaways of the Lipid Testing Market for Food & Beverages:
- Based on technology, the recent technology segment is anticipated to witness the highest growth in the global lipid testing market for food & beverages in the future. This is majorly attributed to the advantages offered by recent technology, such as efficient, quick, and easy-to- Therefore, major players are aiming on introducing new and efficient technologies.
- Food tests such as grease spot test, Sudan stain test, and ethanol emulsion test are some of the traditional methods to determine the presence of Lipid in food samples. The grease spot test is mainly performed on fats where translucent spot is left by the sample if the result is positive. The traditional segment by the Technology was valued at US$ 607.11 Mn in 2020 and is expected to grow at a CAGR of 6.7% during the forecast period.
- Major players operating in the global Lipid testing market for food & beverages include Intertek Group Plc., Microbac Laboratories Inc., Eurofins Scientific SE, Campbell Brothers Limited, General Mills Inc., TUV Nord Group, Bureau Veritas S.A., AsureQuality Limited, ALS Limited, NEOGEN Corporation, Merieux NutriSciences Corporation, and SGS SA.
Global Lipid Testing Market for Food & Beverages - Impact of Coronavirus (COVID-19) Pandemic
- The consequences of the COVID-19 pandemic have led to the deceleration of lipid testing production, as social distancing measures and lockdown were imposed as a solution to meet the desperate need of putting a halt to the increasing number of COVID-19 cases. As per the World Health Organization report, the severity of the COVID-19 infection is associated with the variation in the lipid levels in patients, the higher the variation the higher is the infection and risk. It was observed that patients with severe symptoms showed low total cholesterol levels and continuous decline in the levels resulted in death. Lipid lowering therapy was advised for such patients along with diet and exercise during the course of the treatment. Thus, lipid testing was in scope as a screening tool and fast diagnosing of patients for categorizing them according to symptoms and severity and providing treatment accordingly.
