Global Residue Testing Market
Global Residue Testing Market
By Type (Food Allergens, Heavy Metals, Pesticides), By Food tested (Meat & Poultry, Cereals, Grains & Pulses, Fruits & Vegetables), By Technology (Spectroscopy, Immunoassay, Immunoassay), By Region (North America, Europe, Asia Pacific, Rest of World).
The Global Residue Testing Market was valued at USD 3.28 billion in 2016 and is projected to reach USD 5.59 billion by 2025, growing at a CAGR of 6.10% from 2017 to 2025.
Residue Testing Market is expected to grow due to strong demand for packaged foods and special diets. Many regions have implemented the tolerance level in food products which is fueling the residue market growth. Maximum pesticides residue have been found in regulatory bodies which are part of food safety and environment across the globe. Pesticides are always analyzed before usage for possible health factors in humans.
1. Market Drivers
1.1 International trading of food products.
1.2 Rise in allergic reactions among consumers.
1.3 Implementing strict and safety food regulations.
1.4 High rise in chemical contamination in food industries.
2. Market Restraints
2.1 No awareness about safety regulations among manufacturers.
2.2 Lack of infrastructure and resources.
The Global Residue Testing Market is segmented on the basis of Type, Food tested, Technology and Region.
1. By Type:
1.1 Food Allergens
1.1.2 Peanut & Soy
1.1.5 Tree Nuts
1.1.7 Other Allergens
1.2 Heavy Metals
1.3.2 Other Toxins
1.4.4 Other Pesticides
1.5 Other Residues
2. By Food Tested:
2.1 Meat & Poultry
2.2 Processed Food
2.3 Cereals, Grains & Pulses
2.4 Nut, Seed & Spice Products
2.5 Fruits & Vegetables
2.6 Dairy Products
2.7 Other Foods Tested
3. By Technology:
3.2 Chromatography (HPCL, GC, LC, LC-MS/MS)
3.5 Other Technologies
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Rest of World.
The major players in the market are as follows:
1. Eurofins Scientific SE
2. SGS S.A.
3. Silliker, Inc
4. Asurequality Limited
5. Microbac Laboratories, Inc.
6. Bureau Veritas S.A
7. Intertek Group PLC
8. ALS Limited
9. SCS Global Services
10. Symbio Alliance
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Residue Testing Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. 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.
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