Residue Testing Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Residue Testing Market Analysis
The global residue testing market is projected to grow with a CAGR of 6.6% during the forecast period (2019-2024).
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The residue testing market is driven by heightened consumer awareness regarding the safety aspects of food products.
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The higher budgetary allocation for the areas concerning food safety and security have also provided major boost to the growth of the market.
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Processed foods are the major category of products that are increasingly tested for safety and quality profiles. Based on the regional analysis, North America is a dominating region, in residue testing market closely followed by Europe.
- The global marketplace has a prominent presence of key players, however the local players are abundant, and thus, the market has a fragmented character.
Residue Testing Market Trends
This section covers the major market trends shaping the Residue Testing Market according to our research experts:
Growing Consumer Interest in Food Safety and Quality Issues
The rising number of foodborne disease outbreaks, adulteration cases, and toxicity have increasingly manifested the threat to food safety. The Centre for Disease Control and Prevention (CDCP) has reported that every year, one in 10 people fall sick due to foodborne illness; most importantly, children under five years of age are at high risk. Growing consumer interest for food quality has propelled high technological advancements, which are, thereby, driving the residue safety testing market in developed countries. Enhanced surveillance and detection methods have contributed to the growth of food safety testing scenario, specifically in the developed countries, such as United States. The safety certifications and compliance undertaken by food processing companies and food service organizations are infusing consumer’s trust in these establishments. The consumer education on food safety and mass awareness programs conducted by various bodies are also propelling the market for residue testing.
North America Dominates the Residue Testing Market
The growth of residue testing is primarily driven by the roll-out and implementation of stringent food safety regulations, such as zero tolerance policy for Listeria contamination. The food industries in North America are profoundly impacted by the new Food Safety Modernization Act (FSMA) rules, as consumers are demanding greater transparency regarding food safety. Consumer awareness about chemical tests is also rising, with recent reports of arsenic in apple juice, and acrylamide in processed potatoes and cereals. Companies, such as Eurofins, have developed FDA recommended DNA bar code tests for species identifications, which is gaining prominence in the US market.
Residue Testing Industry Overview
The Global Residue Testing Market is highly fragmented, having some of the major playersof the Residue Testingare SGS S.A., Bureau Veritas S.A., Intertek Group plc., ALS Limited, Eurofins Scientific. New product launches, market expansion, partnerships, and acquisitions are the preferred strategic approaches adopted by most companies involved in the global residue testing market. Mergers and acquisitions is the topmost strategy adopted by residue testing companies. M&A activities assist companies to have diversified products and services, gain operational stability, improve and develop a growth model, gain access to patents, R&D or technology and others. For example, in 2017, Eurofins expanded its products offering in food testing market by acquiring Institut Nehring GmbH, which is aleading food testing laboratory in Germany thus, further expanding its market share in Germany food testing market. Expansion is another key strategy adopted by residue testing companies in order to strengthen their overall presence in the global residue testing market.
Residue Testing Market Leaders
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SGS SA
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Bureau Veritas
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Eurofins Scientific
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Intertek Group plc
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AsureQuality Limited
*Disclaimer: Major Players sorted in no particular order
Residue Testing Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables & Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Pesticides
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5.1.2 Heavy Metals
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5.1.3 Toxins
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5.1.4 Allergens
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5.1.5 Others
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5.2 Technology
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5.2.1 HPLC-based
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5.2.2 LC-MS/MS-based
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5.2.3 Immunoassay-based
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5.2.4 Other Technologies
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5.3 Application
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5.3.1 Feed and Pet Food
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5.3.2 Agricultural Crops
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5.3.3 Food
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5.3.3.1 Meat and Poultry
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5.3.3.2 Dairy
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5.3.3.3 Fruits and Vegetables
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5.3.3.4 Processed Food
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5.3.3.5 Other Foods
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5.4 Geography
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5.4.1 North America
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5.4.1.1 United States
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5.4.1.2 Canada
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5.4.1.3 Mexico
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5.4.1.4 Rest of North America
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5.4.2 Europe
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5.4.2.1 Germany
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5.4.2.2 United Kingdom
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5.4.2.3 France
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5.4.2.4 Italy
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5.4.2.5 Russia
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5.4.2.6 Spain
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5.4.2.7 Rest of Europe
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5.4.3 Asia-Pacific
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5.4.3.1 India
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5.4.3.2 Australia
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5.4.3.3 China
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5.4.3.4 Japan
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5.4.3.5 Rest of Asia-Pacific
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle East & Africa
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5.4.5.1 South Africa
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5.4.5.2 Saudi Arabia
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5.4.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Most Active Companies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 TUV SUD
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6.4.2 Eurofins Scientific
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6.4.3 NSF International
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6.4.4 SGS Group
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6.4.5 Bureau Veritas
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6.4.6 Intertek
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6.4.7 Merieux Nutrisciences
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6.4.8 ALS Limited .
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6.4.9 Asurequality Limited
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6.4.10 AB Sciex, LLC
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6.4.11 Scicorp Laboratories PTY LTD
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Residue Testing Industry Segmentation
The global residue testing market has been segmented by product type, application, and technology. By product type, the market is sub-segmented aspesticides, heavy metals, toxins, allergens and others, and by application, it is sub-segmented as feed & pet food and food. The technology has been further categorized into HPLC-based technology, LC-MS/MC-based, immunoassay-based, and other technologies.
| Product Type | |
| Pesticides | |
| Heavy Metals | |
| Toxins | |
| Allergens | |
| Others |
| Technology | |
| HPLC-based | |
| LC-MS/MS-based | |
| Immunoassay-based | |
| Other Technologies |
| Application | |||||||
| Feed and Pet Food | |||||||
| Agricultural Crops | |||||||
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| Geography | |||||||||
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Residue Testing Market Research FAQs
What is the current Residue Testing Market size?
The Residue Testing Market is projected to register a CAGR of 6.60% during the forecast period (2024-2029)
Who are the key players in Residue Testing Market?
SGS SA, Bureau Veritas, Eurofins Scientific, Intertek Group plc and AsureQuality Limited are the major companies operating in the Residue Testing Market.
Which is the fastest growing region in Residue Testing Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Residue Testing Market?
In 2024, the North America accounts for the largest market share in Residue Testing Market.
What years does this Residue Testing Market cover?
The report covers the Residue Testing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Residue Testing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Residue Testing Industry Report
Statistics for the 2024 Residue Testing market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Residue Testing analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
