Future Prospects of Global Laboratory Proficiency Testing Market

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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...
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Shea Butter Market Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

 

Shea Butter Market
Shea Butter Market

Shea butter is made from the nuts of the Vitellaria Paradoxa tree, which is endemic to West Africa, as well as the Vitellaria Nilotica variation. It contains rare proteins as well as minerals such as potassium and magnesium. Shea butter is utilised as a substitute for vegetable oils and fats in the food and beverage industry, particularly in the chocolate and confectionary industries.

Due to the vast number of companies in the shea butter market, the competition landscape is highly fragmented. International players and players from West Africa, mainly Nigeria, Ghana, Burkina Faso, and Mali, make up the majority of this group. Variations in government policies, as well as a substantial unorganised sector, contribute to the market's complications. Several Shea Butter market players have made increasing manufacturing capabilities a priority. Ghana Nuts, for example, has opened a 3000 metric tonne mega-facility in Tema in order to grow its exports to Europe. Such capacity-building efforts will assist in lowering product pricing and allowing it to compete with less expensive alternatives.

Mergers and acquisitions have also played a significant role in the Shea Butter market. Recent acquisitions in this area include Bunge's purchase of IOI Loders Croklaan and Unilver's purchase of Sundial Brands. Given that the market is still in its early stages, R&D is a continuing element of the market. Shea Radiance, BASF SE, Star Shea, Churchwin Trading, Olvea Group, Sophim, The Hershey Company, Cargill, Shea Therapy, Suru Chemicals, VINK Chemicals, Barry Callebaut Group, Ghana Nuts Company, Croda International, Adunni Ori, Cornelius Group, Akoma Cooperative Multipurpose Society, Jedwards International, The Savannah Fruits Company, Croda International, Bunge, Agrobotan

Ivory, Sacred Shea, Naturise, Allafia, NOW, Jemimah's Original, Kokum, and Buttah are some of the most well-known brands in the shea butter industry.

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