The global demand for Residue Testing Market is presumed to reach the valuation of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% during the period of 2022-2028.
Residues are generally referred to as a small number of contaminants or impurities, which remain in or on the agricultural products. These residues include chemicals from pesticides and veterinary medicines, microorganisms, mycotoxins (toxins produced by fungi), and heavy metals such as mercury, lead, or cadmium. These residues are likely to be present in food as a result of agricultural processing or due to natural situations. Residues may cause harmful effects such as allergies to the consumers and further creates health, food safety, and cleanliness issues. Residue testing is done to ensure product quality and compatibility with national and international standards. It is carried out to test the contaminants, pesticides, and food allergens in dairy products, fruits & vegetables, cereals, and processed food.
Market Dynamics
The major factors that are uplifting the market include the growing food & beverage industry, execution of strict food safety regulations, increasing allergic reactions due to food consumption, and growing chemical contamination in food products. Moreover, the global movement of organic revolution and technological advancement in the testing process is driving the global residue testing market. The other factors that are boosting the market include increasing consumer's awareness and demand for food safety and high-grade food. COVID-19 is likely to disrupt the global market as a result of the economic crisis in all sectors, including the agriculture industry.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of residue testing.
Market Segmentation
The entire residue testing market has been sub-categorized into residue types, detection techniques and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Residue Types
- Pesticides
- Heavy Metals
- Toxins
- Allergens
- Other Residues
By Detection Techniques
- HPLC
- LC-MS/MS
- Immunoassay-Based
- Other Techniques
By Application
- Agricultural Crops,
- Food
- Meat
- Poultry
- Dairy
- Fruits
- Vegetables
- Processed Food
- Other Food
Regional Analysis
This section covers regional segmentation which accentuates on current and future demand for residue testing market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Residue Testing Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the residue testing market include Bureau Veritas S.A., Eurofins Scientific, DTS Food Laboratories, Covance Inc., ALS Limited, SGS S.A., Intertek Group plc, International Laboratory Services Ltd., Microbac Laboratories, Inc., Silliker, Inc., Other companies. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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