Future Prospects of Global Laboratory Proficiency Testing Market

Image
Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Acc...

Future Business Opportunities in Shea Butter Market

Shea Butter is a triglyceride-rich vegetable oil or fat that has been extracted. It's an ivory or off-white coloured chemical isolated from Vitellaria paradoxa's nut (African Shea tree). Shea butter is a sustainable source of edible fat that is utilised in cosmetics and the chocolate industry as a vegetal supply of stearic acid. According to the Food and Drug Administration (FDA), natural cosmetics sales in Europe increased by 6% in 2015, while sales in North America increased by 7%, compared to global natural cosmetics growth of 2.5 percent. According to the United States Agency for International Development (USAID) and other companies, Shea butter can be classified into five grades: A (raw or unrefined, extracted with water), B (refined), C (highly refined, extracted with solvents such as hexane), D (lowest uncontaminated grade), and E (highly refined, extracted with solvents such as hexane) (with contaminants).

Shea butter is used in the food and beverage sector to replace vegetable or animal-based fats in convenience foods, particularly bakery and confectionery. It improves the taste and texture of the finished product, extends its shelf life, and decreases bloom formation in chocolates. It's readily available, and because of its improved nutritional profile, it's been incorporated into people's normal diets. Shea butter's market share in the food processing industry will grow as more people become aware of the health benefits it provides, as well as its low cost and extensive use in bakery, confectionery, and other food products.


Shea Butter Market
Shea Butter Market


Due to busy and stressful lifestyles, increased consumption of ready-to-eat or packaged food products would drive industrial growth, particularly in developing regions such as Asia Pacific. In the coming years, favourable government rules relating to the use of shea butter in food and pharmaceuticals are projected to provide lucrative prospects.

Shea butter Market Outlook

Over the projected period, the use of Shea butter as a cosmetic ingredient is expected to be a major driving force for market expansion. Shea butter is used as a sun protection agent in cosmetics. It also aids in the softening of the skin and the regeneration of tissue cells. Shea butter contains collagen and elastin, which have anti-aging benefits. During the forecast period, these factors are projected to propel the personal care segment of the Shea butter market forward.


Comments

Popular posts from this blog

Future Prospects of Global Laboratory Proficiency Testing Market

Malaria Vaccines Market – Making Way for a Malaria-Free World

Global and China Catheter Market Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027