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LONDON, GREATER LONDON , UK, August 1, 2024 /EINPresswire.com/ -- The dietary supplement testing services market has experienced robust growth in recent years, expanding from $2.65 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to increased degree of knowledge about healthy foods and nutrition, growth in importance of an active lifestyle, growth in demand for dietary supplements, increase in need to validate nutritional information, increase in prevalence of supplement use,.
Strong Future Growth Anticipated
The dietary supplement testing services market is projected to continue its strong growth, reaching $4.33 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to increasing consumer awareness, increasing influence of urbanization and modern lifestyles, growing demand for preventive healthcare solutions, increasing focus on quality and safety, increasing number of dietary supplement products.
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Growth Driver Of The Dietary Supplement Testing Services Market
The increase in healthcare spending is expected to propel the growth of the dietary supplement testing services market going forward. Healthcare spending refers to the total amount of money spent on healthcare goods and services within a specific time. Healthcare spending are also allocated towards conducting safety and efficacy testing of dietary supplements. This includes funding research studies and clinical trials to evaluate the potential benefits and risks associated with specific dietary supplements, supporting the growth of the market.
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Dietary Supplement Testing Services Market Major Players And Market Trends
Key players in the dietary supplement testing services market include Eurofins Scientific Pvt. Ltd., SGS S.A., Bureau Veritas S.A., Intertek Group PLC., UL LLC, TÜV SÜD, Element Materials Technology.
Major companies operating in the dietary supplement testing services market are adopting a strategic partnerships approach to launch dietary supplements into new markets. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success.
Dietary Supplement Testing Services Market Segments:
1) By Service: Stability Testing, Analytical Testing, Microbiological Testing, Regulatory Testing And Compliance, Other Services
2) By Ingredient: Herbal, Vitamins, Minerals, Amino Acids, Enzymes, Other Ingredients
3) By Service Provider: Testing laboratories, Contract research organizations (CROs), Regulatory consultants, Other Service Providers
4) By End-User: Manufacturers, Contract manufacturers, Distributors, Regulatory bodies
Geographical Insights: North America Leading The Market
North America was the largest region in the dietary supplement testing services market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the dietary supplement testing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Dietary Supplement Testing Services Market Definition
Dietary supplement testing services refer to specialized services offered by laboratories or testing facilities to assess the quality, safety, and compliance of dietary supplements. These testing services aim to verify the accuracy of product labeling, ensure compliance with regulatory requirements, and identify any potential contaminants or adulterants that may be present in dietary supplements.
Dietary Supplement Testing Services Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Dietary Supplement Testing Services Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on dietary supplement testing services market size, dietary supplement testing services market drivers and trends, dietary supplement testing services market major players, dietary supplement testing services competitors' revenues, dietary supplement testing services market positioning, and dietary supplement testing services market growth across geographies. The dietary supplement testing services market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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