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Residue Testing Market anticipates revenue will hit up to 6.6% CAGR by 2023: Covering – Market Share, Market Segmentation (by Major Players, Type, Application) | 360 Research Reports

Residue Testing

The Global Residue Testing Market 2020-2023 Research Report provides idealistic and determined details of the Residue Testing Market, that assist you in promoting ideas with research-based factors. It offers in-depth data, refines variations of the worldwide Residue Testing market to help you in deciding the final strategy. The report features a thorough outlook of the market considering profitability, attractiveness, revenue, and CAGR.

The Residue Testing Market Research Report also focuses on leading industry Manufacturer with information such as company profiles, products, and services offered financial information throughout 2020 – 2023

  • SGS S.A.
  • Bureau Veritas S.A.
  • Intertek Group plc
  • ALS Limited
  • Eurofins Scientific
  • DTS Food Laboratories
  • ILS Limited
  • Covance Inc.
  • Silliker
  • Inc.
  • Asurequality Limited
  • Microbac Laboratories
  • Inc.
  • Spectro Analytical Lab Ltd.
  • Vanguard Sciences (Formerly Aegis Food Testing Laboratories)
  • Covance Inc.
  • International Laboratory Services Ltd.
  • Ecolab Inc.

The Residue Testing Market Report offers an accurate financial assessment of each leading Competitor based on their business data that includes estimation of gross margin, Residue Testing Market sales volume, profitability, pricing erection, product value, cost structure, revenue, and growth rate.

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Summary of Residue Testing Market:

The global residue testing market size was estimated to be USD 4.6 billion in 2023 and is anticipated to grow at a CAGR of 6.6% from 2020 to 2023 (forecast period). The residue testing ensures the products to be contaminant-free and complies with the residue level of International regulations. To improve the quality of food, most of the countries have imposed stringent regulations which has made residue testing mandatory, this is expected to drive the in the near future.

Market Dynamics

In 2017, CFIA (Canadian Food Inspection Agency) found traces of an herbicide named glyphosate, in nearly 30% of the samples tested for 3200 food products. The governmental agencies such as CFIA, EU and USDA consider glyphosate safe up to the limit of 1.3%. In 2013, horse meat scandal in the United Kingdom, where beef was found to be contaminated with horse meat, raised food safety issues among consumers as well as manufacturers. Consequently, the food industry started paying more attention to make their products, safer in the residue limit of foods.
The increased concern for pesticide and residue level in food products, growing demand for organic food products and increased need to meet food allergen claims on the label are various factors driving the residue testing market. As food trade is growing globally, there is an intense need for food products to follow international regulations. However, lack of awareness about regulatory standards among manufacturers is the restraining factor for the market. The demand for organic food products is growing in developing region, which offers opportunities for the market

Chromatography Technique to Lead the Pesticide Residue Test Market

The liquid, gas and GC-MS are conventional and reliable methods used for pesticide residue testing. The cost effective testing and high accuracy have dominated the market share among other technologies. Further, these methods are highly preferred in the developed region for residue and food allergen label claims identification. Based on test type, the residue testing market is segmented into technology type, application and geography. Further, the test type segment includes pesticides, heavy metals, food allergen, toxins, antibiotic residue and other residues. These residues are determined by using techniques such as chromatography, mass spectroscopy, enzyme-linked immunosorbent assay (ELISA), PCR and other techniques. The chromatography holds the dominant market share, owing to the high demand for heavy metal, allergen and pesticides residue determination. By application type, the market is segmented into fruits & vegetables, dairy products, beverages, meat & sea foods, cereal, grains & pulses, nuts, seeds, spices & herbs and processed food.

Regional Analysis

The rigorously increasing food safety regulations in the countries, such as China and India, is providing an excellent opportunity for the residue testing market. The need for product safety, coupled with the regulatory requirement, has created a great opportunity for the residue testing market. Further, the companies, like Eurofins, have expanded their food testing labs in China to strengthen the market presence and grabbed opportunities, due to food scandals. North America and Europe dominates the residue testing market while Asia- Pacific is growing at a faster rate.

MAJOR PLAYERS: SGS S.A., BUREAU VERITAS S.A., INTERTEK GROUP PLC, ALS LIMITED, EUROFINS SCIENTIFIC, DTS FOOD LABORATORIES, ILS LIMITED, COVANCE INC., SILLIKER, INC., ASUREQUALITY LIMITED, MICROBAC LABORATORIES, INC., SPECTRO ANALYTICAL LAB LTD., VANGUARD SCIENCES (FORMERLY AEGIS FOOD TESTING LABORATORIES), COVANCE INC., INTERNATIONAL LABORATORY SERVICES LTD., and ECOLAB INC., amongst others.

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Reasons to Purchase this Report

  • Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
  • Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
  • Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
  • 3 months analyst support along with the Market Estimate sheet in excel.

    The Residue Testing Market 2020-2023 Analysis objectives of the report are:

    • To analyze Residue Testing Market regarding growth trends, anticipation and also their participation in the entire sector.
    • To equitably share in-depth info regarding the vital elements influencing the increase of industry (growth capacity, probability, drivers and industry-specific challenges and risks).
    • To know the Residue Testing Market by distinguishing its many sub-segments.
    • To examine and study the market size (volume & value) from the company, essential regions/countries, products and application, background information from 2013 – 2020 and also prediction to 2023.
    • To profile the Leading players in the industry and analyze their growth plans.
    • To venture the amount and value of sub-markets, depending on key regions.
    • Primary worldwide Antifouling Paints and Coatings Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans next coming years.
    • To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.

    Purchase this report (Price 4250 USD for a single-user license) @ https://www.360researchreports.com/purchase/13101659

    The growth of this market worldwide is subjected to various factors; including consumer world-class Residue Testing Market of many Residue Testing Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.

    In conclusion, Residue Testing Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Residue Testing Market competitors.

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    Mr. Ajay More

    Phone: +14242530807 / + 44 20 3239 8187

    Email: [email protected]

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