Vitamins, Minerals, and Supplements Testing Market Overview
Intake of nutrients through food is ideally sufficient for prevention of diseases. However, in today’s world, people are deprived of requisite nutrition through food, and they rely on external nutritional sources, such as health supplements. Thorough testing of vitamins, minerals, and supplements, then becomes imperative. The global Vitamins, Minerals, and Supplements Testing Market is estimated to grow at a CAGR of 5.76% during the forecast period 2018–2023. Asia-Pacific is forecast to register the highest CAGR of 8.05%, which can be majorly attributed to the growing adoption of western lifestyle by people in countries such as India and China. Increasing consumption of packaged and processed food products in developing countries will also be a driving factor for the robust growth of the Vitamins, Minerals, and Supplements Testing market.
Vitamins, Minerals, and Supplements Testing Market Outlook
Vitamins are organic substances derived from plants and animals, whereas minerals are inorganic elements found in nature and are absorbed by plants and animals. Vitamins and minerals are considered as essential nutrients for the overall development of the body. They help the body perform many vital roles such as fighting infections, boosting immunity, and so on. Growing awareness about healthy living and fitness among people has paved the way for the growth of the vitamins, minerals, and supplements market, which in turn has led to the growth of their testing market.
The Vitamins, Minerals, and Supplements Testing Market report is segmented based on the different types of equipment and consumables used in the testing of vitamins, minerals, and supplements. According to IndustryARC, high performance liquid chromatography (HPLC) equipment and mass spectrometer equipment segments are expected to be the major contributors to the growth of the vitamins, minerals, and supplements testing industry during the forecast period.
Vitamins, Minerals, and Supplements Testing Market Growth Drivers
The Vitamins, Minerals and Supplements Testing Market forms part of the larger global health industry. With increasing intentional and unintentional adulteration of food products, the chances of health hazards have also increased. The demand for testing of vitamins, minerals, and supplements is steadily increasing across the globe as consumers are becoming proactive in maintaining their health.
With regulatory standards becoming more stringent within and across various countries, testing of the vitamins, minerals, and supplements in food products has become vital. The Vitamins, Minerals and Supplements Testing industry is witnessing growth due to the increasing consumer awareness about these regulations, which in turn is increasing the demand for testing of food supplements. As per the regulations, it is mandatory for all manufacturing facilities to set up a testing laboratory to test food ingredients right from arrival to the finish stage.
Vitamins, Minerals, and Supplements Testing Market Challenges
One of the key challenges for the Vitamins, Minerals, and Supplements Testing Market is the rapid technology adoption. With the increased demand for testing of food products, the equipment needs to be more accurate and advanced. Technological innovations are accelerating, and this growth needs to be in tandem with the digitization of the equipment needed for testing of vitamins, minerals and supplements. Another challenge is the regulation of dietary supplements – there is no global consensus on how supplements are categorized or defined in different countries or regions. Moreover, many regulatory frameworks are not aligned and keep on changing with respect to geography. Complying with stringent regulations is a huge challenge for market players and enforcement agencies in terms of costs involved.
Vitamins, Minerals and Supplements Testing Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the vitamins, minerals and supplements testing market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the equipment and consumables in vitamins, minerals and supplements testing market, and their end users.
Vitamins, Minerals and Supplements Testing Market Report: Industry Coverage
Types of Equipment in Vitamins, Minerals and Supplements Testing: High Performance Liquid Chromatography (HPLC) Equipment, Fourier-Transform Infrared Spectroscopy (FTIR) Equipment, Mass Spectrometer, ELISA Test, Polarimeter, Refractometer, Titrator, UV Spectrophotometer, and Others
Consumables in Vitamins, Minerals and Supplements Testing Market: Antibodies, Reference Standards, Glass Wares, Chemicals and Reagents, and Others
End Users in Vitamins, Minerals and Supplements Testing Market: Manufacturers, and Third Party Testers
The Vitamins, Minerals, and Supplements Testing Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Argentina, Peru, Rest of South America
- Europe: The U.K., Germany, Italy, France, Spain, Russia, Rest of Europe
- APAC: China, Japan, Australia and New Zealand, South Korea, India, Rest of APAC
- Rest of World: The Middle East and Africa
Vitamins, Minerals and Supplements Testing Market Key Players Perspective
ALS Global, based in Australia, is one of the key players in the vitamins, minerals and supplements testing market. ALS Global acquired Mikrolab Group’s three laboratories in Sweden in October 2017. The three newly acquired laboratories conduct pharmaceutical, environmental, and food (Vitamins, Minerals and supplements) testing for a broad range of clients.
Andreas Jonsson, ALS Europe General Manager, said: “This exciting acquisition represents a step-change for the ALS Pharmaceutical business, providing a great opportunity by increasing the depth and breadth of our proposition to clients. In addition the acquisition brings new capabilities, in particular in regards to toxicology testing, further broadening our environmental testing portfolio.”
Eurofins Scientific, headquartered in Luxembourg, provides testing and support services. The company expanded rapidly with 60 acquisitions and 30 laboratory start-ups in 2017.
Some of the other key players mentioned in this report are Intertek Group, Bruker Corporation, Premier Analytical Services, Great Plains Analytical Laboratory, and Avomeen Analytical Services.
Vitamins, Minerals and Supplements Testing Market Trends
- Innovations and development of better techniques and equipment for Vitamins, Minerals, and Supplements Testing is one of the ongoing trends. For example, R- Biopharm has come up with new test kits for the determination of vitamin content in food. The new RIDASCREEN FAST Vitamin B12 and the RIDASCREEN FAST Folsäure/Folic Acid are significantly faster and easier to use than traditional methods and may gain huge popularity in the coming years.
- Thermo Fisher Scientific designed the Thermo Scientific ISQ EM single quadrupole mass spectrometer for high performance and productivity standards in laboratories, which would aid in vitamins, minerals, and supplements testing. The company has been expanding its product portfolio by introducing such highly efficient equipment.