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YC Shift: MNM analysis showed that the growth is more inclined towards authenticity testing over quality & safety due to changing consumer perspective towards labeling claims. Further, for residues analysis in food samples, tandem systems are preferred due to the higher sensitivity offered by the technology. This factor is projected to increase adoption among small and medium-scale laboratories too along with large scale.

Interconnections: PCR testing is growing at a higher pace for testing of microbiology in food and environmental samples as well as to test GMOs in food samples. Further, test kits demand is growing at a higher pace due to increasing demand to ensure safety and quality in food and environmental samples at any stage in the supply chain.

Unknown: Regulations across the globe are highly evolving in favor of cannabis and hemp thereby creating opportunities for the testing market. The cannabis & hemp testing market, which is valued at >USD 1 billion and growing with a CAGR of ~12% could also be attractive for analytical instruments & consumables, making it an attractive segment for the client.

RI Created: MnM recommended the client to tap into the tandem technologies including GC-MS and LC-MS. By focusing on GC-MS, the client can generate additional revenue of USD 40-50 million in the next 5 years in F&B and environmental applications. The key market driver for the GC-MS technology is the higher sensitivity offered for analyzing complex contaminants such as organic contaminants, heavy metals, pesticides, and other chemical residues.