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(Health-NewsWire.Net, February 27, 2020 ) The grain analysis market is projected to reach 2,323.1 million by 2022, at a CAGR of 5.8% from 2017 to 2022. The market is driven by an increase in the outbreak of foodborne illnesses, globalization in grain trade, and stringent safety and quality regulation for food & feed. Lack of coordination between market stakeholders and improper enforcement of regulatory laws & supporting infrastructure in developing economies are the major restraints for this market.
Key players include the following:
• SGS SA (Switzerland)
• Bureau Veritas SA (France)
• Intertek Group plc (UK)
• Eurofins Scientific (Luxembourg)
• TÜV SÜD (Germany),
• ALS Limited (Australia)
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Food led the market with the largest share
The food segment was the largest in 2016 and is projected to grow at a higher CAGR during the forecast period. Increase in grain trade including import and export, their growing use as an ingredient in new food products, government efforts to ensure optimum nutrition in food, and complexities in the food supply chain have led to the rigorous testing of grains.
Consumables & reagents projected to be the fastest growing component segment from 2017 to 2022
The grain analysis market, by component, was dominated by the instruments segment in 2016. The dominance of instruments is attributable to the introduction of sophisticated & improved technologies, increased effectiveness of instruments, and high price of such instruments compared to other components. The market for consumables & reagents is projected to be the fastest-growing during the forecast period. Consumables & reagents are vital components to be used to follow the set compliances of equipment. Therefore, increasing technical and regulatory complexity and their wide use in different instruments is driving this market.
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Europe led the market with the largest share
Europe was the largest grain analysis market in 2016 as it has the most stringent regulations in place to make sure that grains used in both food and feed are safe for human as well as animal consumption. Further, it has the highest number of testing laboratories among all other regions and tests the most number of grain samples. Asia Pacific is projected to be the fastest-growing region during the forecast period due to growing consumer awareness and increasing health consciousness coupled with growing investments by testing companies in the region.
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