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Residue Testing Market

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Anuradha

Author :

Anuradha B. More

Vaibhav

Fact-checked by :

Vaibhav Chandola

Aman

Editor :

Aman Singh

Residue Testing Market Outlook 2031

The global residue testing market size was valued at USD 4.69 Billion in 2022 and is likely reach to USD 8.20 Billion by 2031, expanding at a CAGR of 6.4% during the forecast period, 2023–2031. The growth of the market is attributed to the rising number of food-borne diseases and allergies.

Residue Testing Market Outlook

Residue testing ensures that product quality fulfils both domestic and international market standards and safety criteria. Residues can appear as single particles, clusters of particles, films, discolouration, or stains. Residual testing determines residue levels in food items by a thorough chemical and microbiological examination, providing food makers and producers access to international markets.          

Market Trends, Drivers, Restraints, and Opportunities

  • Strict government regulations regarding food safety in developed countries is expected to drive the residue testing market.
  • Increasing consumer awareness about the safety of food products is estimated to spur the market growth.
  • The COVID-19 pandemic positively influenced the market growth owing to rising concerns among the consumers regarding hygiene.
  • High time required for the testing process can create challenges for the market growth.
  • Rising financial investment for food safety and security solutions is anticipated to boost the market expansion.

Scope of Residue Testing Market Report

The report on the global residue testing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Residue Testing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Technologies (HPLC-based, LC-MS/MS-based, Immunoassay-based, and Others), Types (Pesticides, Heavy Metals, Toxins, Allergens, and Others), Applications (Feed & Pet Food, Agricultural Crops, Food [Meat & Poultry, Dairy, Fruits & Vegetables, and Processed Food], and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

SGS SA; Bureau Veritas; Eurofins Scientific; Intertek Group plc; and AsureQuality Limited

Residue Testing Market Segment Insights

HPLC-based segment is expected to grow at a rapid pace

Based on product technologies, the market is divided into HPLC-based, LC-Ms/Ms-based, immunoassay-based, and others. The HPLC-based segment is expected to grow at a rapid pace during the forecast period. Increasing customer interest in food quality has boosted significant technological advancements.

Residue Testing Market Technologies

Toxins segment is projected to expand at a considerable CAGR

On the basis of types, the global residue testing market is segregated into pesticides, heavy metals, toxins, allergens and others. The toxins segment is projected to expand at a considerable CAGR during the forecast period. Consumer awareness regarding food safety and mass awareness campaigns carried out by various organisations are driving the market segment growth.

Agricultural crops segment predicted to account for a significant market share

Based on applications, the market is divided into feed & pet food, agricultural crops, food, and others. The food segment is further categorized as meat & poultry, dairy, fruits & vegetables, processed food and others.

The agricultural crops segment is estimated to account for a significant market share during the forecast period. Growing importance of residue testing in agriculture and food security crops is driving the growth of the market segment.

 Residue Testing Market Applications

Residue Testing Market Regional Outlook

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the global residue testing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period. Stringent food safety regulations is one of the major factors driving the growth of the regional market growth.

Residue Testing Market Region

Segments

Product Technologies

  • HPLC-based
  • LC-MS/MS-based
  • Immunoassay-based

  Types

  • Pesticides
  • Heavy Metals
  • Toxins
  • Allergens
  • Others

Applications

  • Feed & Pet Food
  • Agricultural Crops
  • Food
    • Meat & Poultry
    • Dairy
    • Fruits & Vegetables
    • Processed Food
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

Competitive Landscape

The key players competing in the global residue testing market are Shiloh Industries, Inc.; Gibbs Die Casting Corporation Company; Georg Fischer; Sundaram - Clayton Limited; and Pace Industries. Companies are engaging in partnerships, acquisitions, and mergers to expand their market share. Moreover, they’re focusing on expanding their production capacities to leverage their market position.

Residue Testing Market Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. residue Testing Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. residue Testing Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. residue Testing Market - Supply Chain
  4.5. Global residue Testing Market Forecast
     4.5.1. residue Testing Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. residue Testing Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. residue Testing Market Absolute $ Opportunity
5. Global residue Testing Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. residue Testing Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global residue Testing Demand Share Forecast, 2019-2026
6. North America residue Testing Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America residue Testing Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America residue Testing Demand Share Forecast, 2019-2026
7. Latin America residue Testing Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America residue Testing Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America residue Testing Demand Share Forecast, 2019-2026
8. Europe residue Testing Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe residue Testing Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe residue Testing Demand Share Forecast, 2019-2026
9. Asia Pacific residue Testing Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific residue Testing Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific residue Testing Demand Share Forecast, 2019-2026
10. Middle East & Africa residue Testing Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa residue Testing Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa residue Testing Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global residue Testing Market: Market Share Analysis
  11.2. residue Testing Distributors and Customers
  11.3. residue Testing Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. SGS SA
     11.4.2. Bureau Veritas
     11.4.3. Eurofins Scientific
     11.4.4.  Intertek Group plc

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