Residue testing market Size and Growth Rate:
According to the research report, the global residue testing market size was estimated to be USD 4.6 billion in 2023 and is anticipated to grow at a CAGR of 6.6% from 2018 to 2023
Residue testing market Overview:
The residue testing ensures the products to be contaminant-free and complies with the residue level of International regulations. To improve the quality of food, most of the countries have imposed stringent regulations which has made residue testing mandatory, this is expected to drive the in the near future.
Residue testing market Growth Drivers and Restraints:
The increased concern for pesticide and residue level in food products, growing demand for organic food products and increased need to meet food allergen claims on the label are various factors driving the residue testing market. As food trade is growing globally, there is an intense need for food products to follow international regulations. However, lack of awareness about regulatory standards among manufacturers is the restraining factor for the market. The demand for organic food products is growing in developing region, which offers opportunities for the market
Residue testing market Regional Analysis:
The rigorously increasing food safety regulations in the countries, such as China and India, are providing an excellent opportunity for the residue testing market. The need for product safety, coupled with the regulatory requirement, has created a great opportunity for the residue testing market. Further, the companies, like Eurofins, have expanded their food testing labs in China to strengthen the market presence and grabbed opportunities, due to food scandals. North America and Europe dominates the residue testing market while Asia- Pacific is growing at a faster rate.
Residue testing market Key Players:
- SGS S.A.
- Intertek Group plc. (U.K.)
- Silliker Inc. (U.S.)
- Bureau Veritas S.A.
- and Eurofins Scientific (Luxembourg)
- ALS Limited
- AsureQuality Laboratories (New Zealand)
- Microbac Laboratories, Inc.
Residue testing market-Detailed Segmentation:
Residue testing market-By Type
- Heavy Metal
- Food Allergen
Residue testing market-By Technology
- Chromatography (Liquid, gas, HPLC, LC-MS/MS)
- PCR Technique
- Other Technologies
Residue testing market-By Application
- Fruits & Vegetables
- Dairy products
- Cereals, Grains & Pulses
- Meat & Poultry
- Nuts, Seeds, Spices, Herbs
- Processed Food
Residue testing market-By Geographical Segmentation
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Residue testing market - Research Objectives
- To explain the definition and scope of the research study based on crop type, form, mode of application and region.
- Estimate the current market size and forecast the same for 2017 to 2025
- Market size breakdown for each of the segments and regions analyzed
- Insights on the major market dynamics (drivers, restraints & opportunities) and their impact analysis for the analysis period
- Micro and macro level analysis of the market to elucidate eminent investment opportunities
- Porter’s Five forces analysis to deliver a comprehensive buyer-seller scenario and the state of the business environment
- Identification of the Agricultural Micronutrients Market trends in current scenario as well as growth indicators
- Benchmarking leading vendors in the Agricultural Micronutrients Industry based on their strategic attempts, financial status, and other internal and external parameters
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. KEY FINDINGS
4. Market Dynamics
4.1.1 Increased Concern for Pesticide Residue Level in Food Products
4.1.2 Labelling Delaration for Food Allergen on Products
4.1.3 Food Trade Going Global
4.1.4 Growing dmeand of organic food
4.2.1 Lack of Awareness of Food Safety Regulations
4.2.2 High Cost and Time Consuming Testing Pattern
4.3.1 Growing Food Safety Concern in Developing Region
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products & Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Test Type
5.1.2 Heavy Metal
5.1.3 Food Allergen
5.1.5 Antibiotic Residue
5.1.6 Others(minerals, etc)
5.2 By Technology
5.2.1 Chromatography (Liquid, gas, HPLC, LC-MS/MS)
5.2.4 PCR Technique
5.2.5 Other Technologies
5.3 By Application
5.3.1 Fruits & Vegetables
5.3.2 Dairy products
5.3.4 Cereals, Grains & Pulses
5.3.5 Meat & Poultry
5.3.6 Nuts, Seeds,Spices, Herbs
5.3.7 Processed Food
5.4 By Geography
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
5.4.4 South America
18.104.22.168 South Africa
6. Competitive Landscape
6.1 Strategy Adopted by Key players
6.2 Most Active Companies in The Past Five Years
6.3 Market Share Analysis
7. Company Profiles
7.1 SGS S.A.
7.2 Bureau Veritas S.A.
7.3 Intertek Group plc.
7.4 ALS Limited
7.5 Eurofins Scientific
7.6 DTS Food Laboratories
7.7 ILS Limited
7.8 Covance Inc.
7.9 Silliker, Inc.
7.10 Asurequality Limited
7.11 Microbac Laboratories, Inc.
7.12 Spectro Analytical Lab Ltd.
7.13 Vanguard Sciences (Formerly Aegis Food Testing Laboratories)
7.14 Covance Inc.
7.15 International Laboratory Services Ltd.
7.16 Ecolab Inc.