Residue Testing Market Size, Analysis, Share & Forecast 2031
Residue Testing Market Size, Analysis, Share & Forecast 2031
Segments - Residue Testing Market by Product 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), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031.
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| Report ID :FB-2780
| 4.2 Rating
| 84 Reviews
| 193 Pages
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Report Description
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 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.
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Attributes |
Details |
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Report Title |
Residue Testing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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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) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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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.
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 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.
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
- SGS SA
- Bureau Veritas
- Eurofins Scientific
- Intertek Group plc
- Asure Quality Limited
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.
Table Of Content
1. Executive Summary2. 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
Methodology
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