Global Residue Testing Market, By Type (Pesticides, Toxins, Heavy Metal, Food Allergens, Other Residues), Technology (Chromatography, Spectroscopy, Immunoassay, Other), Application (Meat and Poultry, Dairy Products, Processed Food, Fruits and Vegetables, Cereals, Grains and Pulses, Nut, Seed and Spice Products, Other), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights Global Residue Testing Market
Data Bridge Market Research analyses that the residue testing market to be grow at a CAGR of 7.02% in the forecast period of 2022-2029.
Residue testing is commonly used to ensure that product quality meets both national and international market access and safety criteria. Pesticides, food allergies, poisons, heavy metals, and other contaminants are detected using a variety of ways. They're commonly found in processed foods, fruits and vegetables, grains, dairy products, meat and poultry, and other goods.
The rise in outbreaks of chemical contamination in food processing industries will act as major driver accelerating the residue testing market’s growth rate. The increase in cases of allergic reactions among consumers will increase the demand for residue testing and further propel the market’s growth rate. Another significant factor resulting in the expansion of market is the advancement of technology coupled with increasing consumer interest for food quality. Furthermore, implementation of strict food safety regulations and global movement of organic revolution are the major drivers that will enhance the growth of market. Rapid urbanisation, hectic lifestyle which will further influence the eating habits of consumers and rise in the level of disposable incomes in developing and developed countries will influence the growth rate of residue testing market.
Moreover, the rise in the consumer demand for food safety and international trade of food materials will provide beneficial opportunities for the residue testing market growth. Additionally, the increasing demand from emerging markets and increasing government investments for the development of technology will further expand the residue testing market’s growth rate in the future.
On the other hand, high cost associated with testing and lack of food control infrastructure and resources in under-developed countries will obstruct the market growth. Also, the lack of standardization and inappropriate standard of sample collection will challenge the residue testing market. However, the dearth of awareness about the safety regulations amongst food manufacturers will act as restrain and further impede the growth rate of market.
This residue testing market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on residue testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Residue Testing Market Scope and Market Size
The residue testing market is segmented on the basis of type, technology and application. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on type, the residue testing market is segmented into pesticides, toxins, heavy metal, food allergens and other residues.
- Based on technology, the residue testing market is segmented into chromatography, spectroscopy, immunoassay and other.
- Residue testing market is also segmented on the basis of application into meat and poultry, dairy products, processed food, fruits and vegetables, cereals, grains and pulses, nut, seed and spice products and other.
Residue Testing Market Country Level Analysis
The residue testing market is analysed and market size insights and trends are provided by country, type, technology and application as referenced above.
The countries covered in the residue testing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the residue testing market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of major key players and strict regulations associated with food safety in this region. Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the increasing demand for food free of any type of contamination and growth of food industry in this region.
The country section of the residue testing market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The residue testing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for residue testing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the residue testing market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Global Residue Testing Market Share Analysis
The residue testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to residue testing market.
Some of the major players operating in the residue testing market are SCS Global Services, Eurofins Scientific, Bureau Veritas, SGS SA, Intertek Group plc, ALS Limited, AB SCIEX, LLC, Scicorp Laboratories PTY Ltd., Microbac Laboratories, Inc., Symbio Laboratories, SIMA LABS, NSF International., Arbro Pharmaceuticals Private Limited, Fera Science Limited, AGQ Labs USA, METH LAB CLEANUP COMPANY, NEOGEN Corporation, QTS Analytical, Waters Agricultural Laboratories, Inc., and TRILOGY ANALYTICAL LABORATORIES, among others.
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