Key Industries Benefiting from Heavy Metals Testing

The Global Heavy Metals Testing Market is experiencing substantial growth due to several key factors. The increasing awareness about the adverse health effects of heavy metal contamination in food, water, and the environment has led to stringent regulations and guidelines for heavy metals testing. This has resulted in a growing demand for testing services and equipment across various industries, including food and beverages, pharmaceuticals, environmental, and agriculture.

Access Full Report @ https://www.databridgemarketresearch.com/ko/reports/global-heavy-metal-testing-market

Data Bridge Market Research analyses that the Global Heavy Metals Testing Market is expected a CAGR of 6.9% in the forecast period of 2023 to 2030 and the Market value in 2022 was USD 21,50,142.39 thousand and is expected to reach USD 3,666,813.85 thousand by 2030. Technological advancements in testing equipment, such as atomic absorption spectrometry, inductively coupled plasma mass spectrometry, and X-ray fluorescence spectroscopy, have improved accuracy, sensitivity, and efficiency in heavy metals analysis, further driving market growth.

Key Findings of the Study

Demand for high-quality and safe food is expected to drive the market's growth rate

The demand for high-quality food and safety is a significant driver of the Heavy Metals Testing Market. Consumers are increasingly concerned about the presence of heavy metals in food and its potential health risks. This has led to a growing emphasis on food safety measures, including comprehensive testing for heavy metal contamination. The need to ensure that food products meet regulatory standards and consumer expectations drives the demand for heavy metals testing services and equipment in the market.

Report Scope and Market Segmentation

Segment Analysis:

The heavy metals testing market is categorized based on technology, offering, automation, target metal, end-use.

• On the basis of technology, the heavy metals testing market is segmented into ICP, metals speciation (methyl mercury), atomic absorption spectroscopy (AAS), and others. ICP segment dominating the technology segment of the heavy metals testing market with a CAGR of 7.2% due to its high sensitivity, accuracy, and ability to analyze multiple elements simultaneously, making it an essential tool for heavy metals analysis in the forecast period of 2023 to 2030.

In 2023 ICP segment dominates the technology segment of the heavy metals testing market

In 2023 ICP segment dominates the technology segment of the heavy metals testing market with a CAGR of 7.2% owing to its remarkable sensitivity and accuracy in detecting and quantifying heavy metals. Its simultaneous multi-element analysis capability allows for efficient and comprehensive testing, making it a valuable tool for industries requiring precise and reliable heavy metals analysis in the forecast period of 2023 to 2030.

• On the basis of offering, the heavy metals testing market is segmented into offering hardware, software, and services. The service segment dominates the offering segment of heavy metal testing market with a CAGR of 7.1% due to outsourcing testing services offers cost-effectiveness, as it eliminates the need for investment in expensive testing equipment in the forecast period of 2023 to 2030.

In 2023, the service segment dominates the offering segment of the heavy metal testing market

In 2023, the service segment dominates the offering segment of the heavy meatal testing market with a CAGR of 7.1% owing to it eliminating the need for investment in expensive testing equipment. Service providers have expertise in various testing methods, ensuring accurate and reliable results. They also stay updated with regulatory requirements and industry standards, providing comprehensive testing solutions. Furthermore, outsourcing allows businesses to focus on core activities while relying on specialized service providers for heavy metals testing.   

•  On the basis of automation, the heavy metals testing market is segmented into manual, semiautomatic, and fully automatic. The fully automatic segment dominates the automatic segment of heavy metal testing market with a CAGR of 7.1% due to its numerous advantages, fully automatic testing equipment offers higher efficiency, improved accuracy, and reduced manual intervention in the forecast period of 2023 to 2030.
•  On the basis of target metal, the heavy metals testing market is segmented into arsenic, cadmium, lead, mercury, chromium, tin, copper, tungsten, zinc, nickel, selenium, others. Mercury is dominating the target metal segment of heavy metal testing market with the CAGR OF 8.2% due to its significance as a toxic heavy metal, and arsenic contamination poses severe health risks, making its detection and quantification critical.
• On the basis of  end use, the heavy metals testing market is segmented into food, dietary supplement, beverages, feed products, pharmaceutical, personal care and cosmetics, fats and oils, blood and other samples, and others. The food segment dominates the end user segment of heavy metal testing market with a CAGR of 7.4 % owing to the potential for heavy metal contamination, safety and quality of dietary supplements are paramount, as they are consumed for health and wellness purposes.

Major Players

Data Bridge Market Research recognizes the following companies as the major heavy metals testing market players in heavy metals testing market are SGS Société Générale de Surveillance SA (Switzerland), Intertek Group plc (U.K.), Eurofins Scientific (Luxembourg), TÜV SÜD (Germany), ALS (Australia).

Market Development

• In August 2022, Eurofins has announced about successful acquisition of a majority ownership in Bio-EC, Spincontrol, and Genex, all of which are components of the Bio-EC / Spincontrol Group. as part of its plans to increase the scope of its global Cosmetics & Personal Care offering. The acquisition improves the Eurofins Group's capacity to carry out ad hoc clinical efficacy investigations, emotion studies, and image analysis by introducing ex vivo objectivation and cosmetogenomic capabilities.
• In June 2022, The Eurofins Scientific has expanded its business with CRA Korea Inc. This business expansion will help the company to achieve a greater consumer base in Korea.
• In May 2022, SGS Société Générale de Surveillance SA announced that they acquired the business of Ecotecnos, Chile. Ecotecnos provides sea monitoring and oceanographic services to a number of sectors in Chile, including aquaculture, energy, mining, and petrochemicals, to ensure that the effects of these enterprises on the aquatic or marine ecosystem are compliant with national legislation. This acquisition will help the company to expand their scope of the business.
• In May 2022, SGS Société Générale de Surveillance SA announced that they acquired the business of AIEX, based in Cherbourg, France. This acquisition will the company to expand their product & services portfolio and reach a larger consumer base associated with the nuclear energy sector.

Regional Analysis

Geographically, the countries covered in the global heavy metals testing market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Russia, Spain, Switzerland, Belgium, Netherlands, Denmark, Sweden, Poland, Turkey, Norway, Finland and Rest of Europe, China, India, Japan, South Korea, Indonesia, Thailand, Singapore, Australia, New Zealand, Philippines, Vietnam, Malaysia, Taiwan and Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Egypt, United Arab Emirates, Saudi Arabia, Israel, Oman, Qatar, Kuwait  and Rest of Middle East & Africa.

As per Data Bridge Market Research analysis:

Europe is the dominant region in global heavy metals testing market during the forecast period 2023 - 2029

In 2021, Europe dominated the global heavy metals testing market owing to growing awareness regarding the properties of the heavy metals products. Europe will continue to dominate the global heavy metals testing market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and launch of new products in this region. Additionally, the growing characteristics of heavy metals products are expected to further enhance the market's growth rate in this region. 

Asia-Pacific is estimated to be the fastest growing region in global heavy metals testing market the forecast period 2023 - 2029

Asia-Pacific is expected to grow during the forecast period due to the presence of major market players and rapid development of medical facilities in emerging economies in this region. In addition to this, rising level of healthcare expenditure and increasing per-capita income are expected propel the market's growth rate in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 has disrupted the supply chain and declined markets of heavy metals testing globally. The COVID-19 pandemic has seen a long-term supply chain crisis that has revealed a lack of preparedness and insufficient recovery capabilities across numerous industries and sectors. Disruptions in the supply chain have led to lower access and supplies of heavy metals testing equipment or services. With the persistence of COVID-19, there have been restrictions on the transportation, import, and export of heavy metals testing equipment and instruments. Most of the market is in a supply chain crisis caused by the epidemic. Every market is facing significant struggles in logistics associated with product movement. The epidemic has caused an issue associated with global shipping. There is demand outstripping the supply. Thus sea freight prices are at an all-time high, and container capacity is extremely limited for supplying. Unfortunately, high shipping charges, lengthier lead times, and capacity bottlenecks will remain a challenge for the market.

Moreover, the restrictions and measures are likely to relax, which will help market to witness a slight increment, as the manufacturers are focusing on various developments and innovations, market trends, and other expansion strategies. Thus, the global heavy metals testing market will grow at an accelerated pace post COVID-19.

For more Detailed Information about the Global Heavy Metal Testing Market report, click here – https://www.databridgemarketresearch.com/ko/reports/global-heavy-metal-testing-market