Global Dietary Supplement Testing Services Market size was valued at US$ 1.69 Bn in 2019 and the total revenue is expected to grow at 7.9 % through 2021 to 2027, reaching nearly US$ 3.1 Bn.
Global Dietary Supplement Testing Services Market Overview:
The global dietary supplement testing services market was valued at US$ 1.7 Billion in 2020, and it is expected to reach US$ 3.1 Billion by 2027, growing at a CAGR of 7.9 % over the forecasting period of 2021-2027. Impurities in raw ingredients and finished goods or products are tested using dietary supplement testing services. It also evaluates supplement regulation, verifies the performance of supplement products, and ensures the quality of supplements. Supplementary testing services include analytical testing, chemical testing, declaration testing, microbiological testing, regulatory testing, and compliance testing, and stability testing. These methods help to reduce the risk by identifying adulteration and also help to increase the level of supplements. To know about the Research Methodology :- Request Free Sample Report The market is forecasted from 2021 to 2027 using 2019 as a base year. The market size for 2020 is based on actual figures and outputs from key companies and big players around the world. Previous five-year trends are considered while forecasting the market until 2026. 2020 is a year of exception, with the impact of lockdown broken out by area.
Global Dietary Supplement Testing Services Market Dynamics:
Increasing healthcare spending, an increasing population, and growing interest in preventive healthcare and diet-based health are helpful for growing the dietary supplement testing services market. Increased demand for energy and weight management is projected as the number of fitness facilities, health clubs, and gyms grow, as well as young people’s awareness of fitness. Increasing acceptance of sports as a profession is expected to increase the demand for sports nutrition, which in turn is conducive to market growth. Research and development are key factors for the success of dietary supplements and require substantial investment. In addition, it is expected that strict regulations on product health benefit claims and labeling will pose challenges to the market during the forecast period. One of the major restraints of the dietary supplement testing services market is the lack of safety and testing infrastructure in developing countries. Due to the lockdown impact, the gym, club, the restaurant is closed, and this factor has directly affected the market growth. Due to the lockdown pandemic, the revenue of fitness, health, and the gym was decreased in 2020.
Global Dietary Supplement Testing Services Market Segment Analysis:
The global dietary supplement testing services market is segmented into methods and Ingredients respectively.
On the basis of method, dietary supplement testing services market is sub-segmented into Service Type, Stability Testing, Analytical Testing, Microbiological Testing, Regulatory Testing & Compliance, and Others. According to the MMR report, the microbiological testing segment held the largest share of xx% in 2019, owing to test shift in the ability to shorten the time from 8-10 days to 1-2 days and quickly identify contaminants and treat them before they do irreversible damage. As the demand for nutritional supplements increases, the demand for Microbiological Testing increases. The microbiological services industry is expected to benefit because it plays an important role in ensuring the level of indicators and spoilage organisms in the final product. On the basis of ingredients, the dietary supplement testing services the market is sub-segmented into Vitamins, Amino Acids, Minerals, Others. According to the MMR report, the vitamins segment held the largest share of 31.4 % in 2019, owing to high demand from working professionals and sport athletes for increasing energy and weight management, it has a higher convenience index in terms of usages, which makes bone strong, and it helps to improve immunity power. Amino Acids segment is expected to grow at a CAGR of 13.3% during the forecast period. Consumer demand for protein supplements (such as whey powder) and amino acid products (such as creatine, tyrosine, citrulline, and proline) continues to rise as people become more mindful of their health and nutrition, which helps to propel the market forward over the forecast period.
Global Dietary Supplement Testing Services Market Regional Insights:
North America is the dominant regional segment, which occupied 35.7% of the revenue share in 2019. Increasing use of products with high nutritional value and low calories are used. In addition, due to the launch of new products, high urbanization, high spending power, awareness of the consumption of supplement products in Mexico continues to increase, which is expected to drive the demand for dietary supplement testing services during the forecast period. The Asia-Pacific region has the second-dominant largest market during the forecasting period. The Asia Pacific regional market is expected to grow at a CAGR of xx% during the forecasting period 2021-2027. Due to the growing consumer base in countries such as India, China, and South Korea, it is expected that this market will become the largest regional market by 2027. Due to the increase in per capita income and awareness, the region’s expenditure on health-enhancing products is expected to drive demand for dietary supplement testing services during the forecast period.
• In July 2019, Laboratory-testing Company Euro fins Scientific announced that it planned to slow its frantic deal making pace in the next two years while also expanding in emerging markets to maintain double-digit sales growth over the next decade. The objective of the report is to present a comprehensive analysis of the global Dietary Supplement Testing Services market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Dietary Supplement Testing Services market dynamics, structure by analyzing the market segments and projects the global Dietary Supplement Testing Services market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Dietary Supplement Testing Services market make the report investor’s guide.
Global Dietary Supplement Testing Services Market Scope: Inquire before buying
Global Dietary Supplement Testing Services Market, by Region
• North America • Europe • Asia Pacific • Middle East and Africa • South America
Global Dietary Supplement Testing Services Market Key Players
• ALS Limited • Eurofins Scientific • Foodscan Analytics Limited • Intertek Group Plc • LGC Limited • NSF International • SGS SA • UL LLC • NSF International • Spectro Analytical Labs • Modern Testing Service India • Herbalife Nutrition • Arkopharma Laboratories • Bayer • Glanbia
Frequently Asked Questions:
1. Which region has the largest share in Dietary Supplement Testing Services Market? Ans: North America holds the highest share in 2019. 2. What is the growth rate of Dietary Supplement Testing Services Market? Ans: The Dietary Supplement Testing Services Market is growing at a CAGR of 7.9 % during forecasting period 2019-2027. 3. What segments are covered in Dietary Supplement Testing Services market? Ans: Global Dietary Supplement Testing Services market is segmented into methods, ingredients, and Region. 4. Who are the key players in Dietary Supplement Testing Services market? Ans: The important key players in the Dietary Supplement Testing Services market are ALS Limited, Eurofins Scientific, Foodscan Analytics Limited, Intertek Group Plc, LGC Limited, NSF International, SGS SA, UL LLC, NSF International, Spectro Analytical Labs, Modern Testing Service India, Herbalife Nutrition, Arkopharma Laboratories, Bayer, and Glanbia. 5. What is the study period of this market? Ans: The Dietary Supplement Testing Services market is studied from 2019 to 2027.