Thailand Grain Analysis Market Size Grow at Steady Rate to To Reach USD 96.5 Million by 2029
Thailand grain analysis market size is projected to grow at a CAGR of 6.69% reaching a value of USD 96.5 million by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Thailand grain analysis market size at USD 61.75 million in 2022. During the forecast period between 2023 and 2029, the Thailand grain analysis market size is projected to grow at a CAGR of 6.69% reaching a value of USD 96.5 million by 2029. Rising rates of different food-borne diseases and increased grain import are key growth drivers for the Thailand Grain Analysis market. In order to maintain the quality and safety requirements for consumption, grains must be analyzed due to the overuse of chemicals in agriculture and the booming import and export of grains, which is creating attractive development prospects for the Thailand grain analysis market. However, lack of awareness regarding food safety and regulations may act as a huge restraining factor for the market growth.
Thailand Grain Analysis Market – Overview
The grain analysis determines the quality of dietary grains. With specific technology, the grain analysis procedure examines grain contamination. It often includes but is not limited to precise estimation of nutrient take-off; the chance to spot any nutritional inadequacies in the harvested crop that could have had an influence on its success; Details to consider when calculating future nutrient requirements for the following crops.
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Thailand Grain Analysis Market – By Component
Based on component, the Thailand grain analysis market is divided into instruments, reagents & consumables, and reference materials segments. The instruments segment accounts for the highest share in the Thailand grain analysis market. Modern instruments are much simpler to operate and comprehend than older models since the software handles the majority of the work. These tools have an app attached to them because they are directly integrated into a desktop, laptop, or mobile device (such as a smartphone or tablet). The grain analysis is significantly easier to use than many other technologies available today since it crunches the data and displays the important information in a convenient dashboard.
Impact of COVID-19 on Thailand Grain Analysis Market
The unprecedented COVID-19 initially halted the growth of Thailand grain analysis market. The supply chain disruptions throughout the world hindered the supply of grain analysis kits as well as the shortage of human resources disturbed the analysis activities in the region. However, the rising need to ensure grains as pathogen-free and the adoption of a healthy diet post the virus outbreak scenario is creating new growth opportunities for the grain analysis market in Thailand.
Major players operating in Thailand's Grain Analysis market include Thermo Fisher Scientific Inc., Intertek Group plc, Eurofins Scientific, ALS Limited, SGS SA, TUV SUD, NEOGEN Corporation, Micro Labs Ltd, and Advanced Laboratory Testing. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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