Market Trends of Testing, Inspection, and Certification Industry in Consumer Goods and Retail Industry
Certification Service to Hold Significant Market Share
- Consumers and authorities want transparency and are no more just willing to rely on a claim. Instead, they want evidence of independent assessment to prove all safety, performance, compliance, and sustainability claims. As such, companies are increasingly focusing on getting certifications for consumer products in order to establish trust among the concerned parties for the product's authenticity.
- In 2021, China had the highest number of ISO 9001 certificates worldwide, followed by Italy and Germany. The ISO 9001 standard outlines the criteria for quality management systems. Using ISO 9001 certification helps ensure that customers get good quality products and services consistently, bringing many business benefits.
- Companies choose ISO 9001 QMS certification to show that they have taken due care to maintain high standards. This reduces the chance of product faults and recalls or service shortcomings and ensures that the customers can buy confidently.
- ISO 9001 certification demonstrates the organization's ability to meet and exceed customer expectations consistently. Many enterprise buyers and retailers require their suppliers to be ISO 9001 certified to minimize their risk of purchasing a poor product or service. Being ISO 9001 certified boosts your sales potential. ISO 9001 standard ensures consistently high product or service quality and thus forms the basis for effective quality management. The secure competitive advantages of ISO 9001 certification include a significant increase in productivity and minimization of risks, improved image on a global level, savings through cost-efficient optimized processes, and consistent quality.
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Europe to Witness Significant Growth
- According to Statistisches Bundesamt, Germany's gross domestic product (GDP) amounted to EUR 3.570 trillion (~USD 3.580 trillion) in the previous year. The country has a strong foothold of players, such as the Dekra Certification and TUV SUD Group, contributing positively to the market's growth.
- Due to the growing regional competition from new markets and increased demand for quality from consumers, quality assurance and compliance solutions are vital. Most consumer goods and retail services make use of testing and certification. Consumer products and retail is expected to become the fastest-growing segment, considering the region's expansion of online retail platforms.
- Testing, inspection, and certification services offered by the market vendors cover the entire value chain of consumer products from the planning phase, buying and shipping, stocking, and selling, to enable informed quality and sourcing decisions. The testing services help to verify that the products are safe and conform to different specifications. The advisory and inspection services are helpful as they allow customers to meet regulatory requirements.
- Furthermore, the COVID-19 pandemic further accelerated the growth opportunities of market players to capture maximum market share. For instance, DEKRA Testing & Certification in Essen is one of two laboratories in Germany suitable for testing protective coronavirus masks following new testing principles. The objective is to make protective masks that could not previously bear the required CE marking available in the fight against coronavirus with targeted tests.
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Testing, Inspection, and Certification in Consumer Goods and Retail Market Report Snapshots
- Testing, Inspection, and Certification in Consumer Goods and Retail Market Size
- Testing, Inspection, and Certification in Consumer Goods and Retail Market Share
- Testing, Inspection, and Certification in Consumer Goods and Retail Market Trends
- Testing, Inspection, and Certification in Consumer Goods and Retail Companies
