Global Residue Testing Market By Type (Pesticides, Toxins, Heavy Metal, Food Allergens, Other Residues), Technology (Chromatography, Spectroscopy, Immunoassay, Other), Food Tested (Meat & Poultry, Dairy Products, Processed Food, Fruits & Vegetables, Cereals, Grains & Pulses, Nut, Seed & Spice Products, Other), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Residue Testing Market
Global residue testing market is set to witness a substantial CAGR of 6.57% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand for food safety and global movement of organic revolution are the factor for the growth of this market.
Market Definition: Global Residue Testing Market
Residue testing is done to make sure that both national and foreign market access and safety standards are met by the quality of the products. Different methods are used to check the contamination which consists of pesticides, food allergens, toxins, heavy metals and others. They are widely used in application such as processed food, fruits and vegetable, cereals, dairy products, meat and poultry and others. These test help the companies to make sure that their products are not contaminated and are healthy.
- Rising chemical contamination in food processing industries are the factor for the growth of this market
- Growing allergic reaction among consumer acts as a market driver
- Strict food safety regulations will also accelerate the market growth
- Rising disposable income drives the growth of this market
- Dearth of food control infrastructure and resources will restrain the market growth
- Lack of awareness in food manufacturer about safety regulation will also hamper the market growth
Segmentation: Global Residue Testing Market
- Other Pesticides
- Other Toxins
- Heavy Metal
- Food Allergens
- Peanut & Soy
- Tree Nuts
- Other Allergens
- Other Residues
By Food Tested
- Meat & Poultry
- Dairy Products
- Processed Food
- Fruits & Vegetables
- Cereals, Grains & Pulses
- Nut, Seed & Spice Products
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In November 2018, Matrix Sciences announced the acquisition of Pacific Agricultural Laboratory, This acquisition will help the company to provide full service network to their customers. With PAL expertise in residue testing, Matrix will able to meet the rising demand of their customers and will also expand their business in different countries
- In May 2016, Neogen announced the launch of their new test which is specially designed so they can detect different veterinary drugs in food. This new test has the ability to detect florfenicol, clenbuterol, oxytetracycline and avermectins. These tests are cost- effective and are accurate as compared to the instrument-based tests. The main aim of the launch is to inexpensive testing options for veterinary drug residues in food so customer can get residue free food
Global residue testing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of residue testing market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global residue testing market are Eurofins Scientific, Bureau Veritas, SGS SA, Intertek Group plc, ALS Limited, Scientific Certification Systems, Inc., Microbac Laboratories, Inc., Symbio Laboratories, SciCorp Laboratories (Pty) Ltd, AB Sciex, NSF International., Arbro Pharmaceuticals Private Limited, Sophisticated Industrial Material Analytic Labs Private Limited., Fera Science Limited, Agriculture and Food Laboratory, METH RESIDUE TESTING, NEOGEN CORPORATION, QTS Analytical, Waters Agricultural Laboratories, Inc., Trilogy Analytical Laboratory among others.
Research Methodology: Global Residue Testing Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global residue testing market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)