Prominent players in the dioxin analyzer market are focusing on supplying products that fit consumer specific and country-specific requirements, and are closely working with consumers to gain a better understanding of their needs to offer high-performance dioxin analyzers.
ROCKVILLE, MD / ACCESSWIRE / September 30, 2020 / The dioxin analyzer market is projected to grow at a CAGR of 3% in terms of value through the period of forecasting between 2020 and 2030. The report suggests that the growth of the market is majorly attributed to the increasing stringency of regulations on food testing and the subsequent adoption of dioxin analyzers to test the presence of dioxin and other chemicals. However, the COVID-19 pandemic has brought the operations to a screeching halt, leading to a downtrend in the demand for dioxin analyzers.
"Dioxin analyzers find adoption across numerous industries, including food testing laboratories, government institutions, and food product companies, to detect the presence of dioxin and dioxin-like polychlorinated biphenyls (di-PCBs), which is expected to remain the crucial driving factor," says the Fact.MR report.
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Dioxin Analyzer Market - Key Takeaways
- The global dioxin analyzer market is projected to attain a valuation of US$ 376 Mn by the end of 2030.
- Based on the technology, GC-MS/MS dioxin analyzers are expected to hold over half of the overall market value, owing to their low installation cost and higher accuracy.
- By end-user, food-testing laboratories are expected to reach a valuation of US$ 98 Mn by 2030.
- Government institutions and food product companies will hold 3/4th of market value through the assessment period.
- North America and Europe will cumulatively account for over 3/5th of market value, backed by stringent regulations in place pertaining to food safety.
- East Asia is expected to bestow an absolute revenue opportunity worth US$ 20 Mn between 2020 and 2030.
Dioxin Analyzer Market - Driving Factors
- Stringent regulations by food safety authorities are asserting players in the food production sector to seek effective testing methodologies and comply with the norms.
- Growth of the processed food industry backed by ever-evolving consumer preferences will continue to fuel the growth of the dioxin analyzers market.
- The penetration of e-commerce players into sales of processed and emphasis on monitoring dioxins in food will continue to drive demand for dioxin analyzers.
Dioxin Analyzer Market - Constraints
- Lack of awareness among end-users regarding the availability of a dioxin analyzer is likely to hinder the market growth.
- The availability of alternate chemical testers and the high cost of installation of dioxin analyzers are hampering the growth of the market.
Anticipated Market Impact by Coronavirus Outbreak
The COVID-19 pandemic is posing challenges on both the demand and supply sides of the dioxin analyzer market. As a result of the supply chain disruptions, the production of dioxin analyzers has been severely affected due to the shortage of components. On the demand side, halted operations in end-use sectors such as food production have created a downfall in demand for food testing methods, and the downtrend is expected to prevail through 2020.
Explore the Dioxin Analyzer market comprising of 89 figures and 41 data tables, along with the table of contents. You can find a detailed market segmentation on https://www.factmr.com/report/4159/dioxin-analyzer-market
Competition Landscape
The key players operating in the dioxin analyzer market include, but not limited to, include Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Shimadzu Corporation., Bruker Corporation, Hitachi High-Tech Corporation, AB Sciex Pte. Ltd., JEOL Ltd., and Gasmet Technologies Oy. Market players are focusing on upscaling their production facilities to gain a competitive edge. On these lines, in 2019, Thermo Fisher Scientific Inc opened its customer solution center in India in collaboration with the Food Safety and Standards Authority of India (FSSAI).
More on the Report
The FACT.MR's market research report provides in-depth insights into the Dioxin Analyzer Market. The market is scrutinized on the basis of technology (GC-MS/MS, GC-HRMS, and LC-MS/MS) and end user (food testing laboratories, government institutions, and food product companies), across seven major regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
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SOURCE: Fact.MR
View source version on accesswire.com:
https://www.accesswire.com/608465/Dioxin-Analyzer-Market-to-Grow-at-CAGR-of-3-through-2030-COVID-19-Creates-Downfall-in-Demand-Opines-FactMRs-New-Study
