(Food-Beverage-News.Com, 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.
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.
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.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
