Asia-Pacific Certified Reference Materials Market Growth Study 2022

The Asia-Pacific certified reference materials market size was worth US$ 362.10 million in 2019 and is estimated to reach US$ YY  million by 2027, growing with a CAGR of 10.2% during the forecast period.

Certified Reference Materials (CRMs) are key tools providing traceability and securing reliability in measurement, test, and analysis. Securing reliability in test and analysis has become the priority of almost all entities involved in economic activities in the region, including industry, governments, metrology communities, and the general public. The need to serve for such interest grows and spreads over broad areas such as chemistry, health, food and the environment.

For instance, the Korea Research Institute of Standards and Science (KRISS), the National Institute of Metrology of the People’s Republic of China (NIM) and the National Institute of Advanced Industrial Science and Technology agreed to create the Asian Collaboration on Reference Materials (ACRM) and to promote an integrated collaboration.

The Asia-Pacific pharmaceutical market is the second-largest in the world after North America. The region is diverse in terms of its demographics, from the developed countries such as China, Japan, South Korea, Singapore, and Australia to emerging economy countries such as India, Thailand, Indonesia, Malaysia, Vietnam, Bangladesh and the Philippines. 

Moreover, pharmaceutical spending in the region is anticipated to rise faster than GDP. Increasing populations, aging societies and political pressure to expand healthcare services in the region. The growing proportion of newly disposable income can be utilized in healthcare lead to an increasing pharmaceutical industry

The Asia-Pacific has spearheaded the revival of the global petrochemical sector with its robust economic growth and domestic consumption. Over the next decade, Asia-Pacific is expected to drive two-thirds of global petrochemical demand.

In Asia-Pacific’s fast-paced societies, consumers have become more conscious of what goes into their bodies. Consumers look for indicators that a product is clean-labeled or has other alternative callouts such as gluten-free, dairy-free, keto and more. Also, there is an increasing trend towards natural replacements, such as substituting white sugar and less healthy sweeteners with manuka honey and black sugar.

Moreover, Beverages are now not just for taste; consumers also view them as a form of health booster. Innovation in the beverage has allowed manufacturers to offer nutritional and functional experiences along with the taste. Consumers are willing to spend a premium on beverages made with high-quality and functional ingredients that meet their needs. They are also looking at convenience. For instance, yogurt and protein drinks now function as meal replacements in APAC’s societies.

Asia is a hotspot for plastic pollution. Consumers in the Asia-Pacific are driven to protect the environment. Research in the journal Environmental Science & Technology pointed that salt sold in Asia contains the highest level of plastic contamination globally. Therefore, food production and its processing is an essential factor gaining prominence in consumers’ minds. Kerry’s recent cleaner label study showed that 55% of consumers in the Asia-Pacific, Middle East and Africa (APMEA) are likely to purchase sustainable food because they believe it is healthier.

China

China certified reference materials market size was worth US$ 127.42 million in 2019 and is estimated to reach US$ YY million by 2027, growing with a CAGR of 12.5% during the forecast period

In China, the National Sharing Platform for Reference Materials is a platform that provides reference material information query, material sharing promotion, exchange of development and application technologies and research on resource planning and development. It has resources involving in many fields such as environment, chemical industry, food, geology, physics & chemistry, non-ferrous metals, nuclear materials, clinic, coal, building materials and polymer materials

As per the National Sharing Platform for reference materials is a platform; they have carried out the verification and rectification of resource information metadata, with more than 30,000 fields, of more than 7,600 categories of reference materials based on the stock resources, to ensure the accuracy and reliability of resource information

Moreover, China is the world's largest chemical producer. China's government policy, such as a policy of petrochemical self-sufficiency to mitigates an expanding energy security dilemma and capitalize on rising forecasted demand

China is the second-largest pharmaceutical industry globally, with over 4000 pharmaceutical players. Leading pharma players such as Sinopharm and Shanghai Pharmaceuticals have substantial control over the networks. Also, the Chinese Government is increasingly focused on changing its status from an imitator to an innovator by propelling its biologics pipeline. At present, the country holds a pipeline of over 700 molecules

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