Global Residue Testing Market Overview:
Residue Testing is the mechanism of testing food products and agriculture produce for any adulteration or contamination. Residue Testing can be carried out through various technologies, with notable ones being NMR, Chromatography, Immunoassay, LC-MS/MS, HPLC, and Others. Increasing Consciousness for food safety, growth in the organic movement has also played a vital role in the growth of the market. Increasing Incidents of Adulteration and Contamination have led governments across the world to debate about structuring stringent regulations on food quality and food safety. Although developing countries remain left behind because of poor mechanisms, infrastructure, and lack of knowledge regarding food quality assurance. In terms of Geographically, Europe remains the biggest market followed by North America because of the presence of strong regulation mechanisms. The Asia Pacific is expected to grow exponentially in the coming years. Some of the players profiled in the study are SGS S.A. (Switzerland), TÜV SÜD (Germany), NSF International (United States), Eurofins Scientific (Luxembourg), Intertek Group plc (United Kingdom), Asurequality Limited (New Zealand), Merieux Nutrisciences (United States), Bureau Veritas (France), Microbac Laboratories, Inc. (United States) and ALS Limited (Australia).
On the basis of geography, the market of Residue Testing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Chromatography (Liquid and Gas Chromatography) will boost the Residue Testing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Increase in Adulteration of Food
- Rising Food Safety Regulations
- Growth of Organic Food Market
- Increasing Investment and Innovation in Research and Development of New Testing Technologies
- Rapid Advancement in Technology
- Increase in Market Competency
- The Emergence of Mobile Testing Facilities
- Poor Food Testing Infrastructure in Developing Countries
- Africa and Latin America Provides Great Opportunity for Expansion because of Less Explored Markets
- Less Awareness about Existence of Food Quality Assurance Mechanisms
Key Market Developments:
In 2021, SGS S.A., one of the market leaders in inspection, verification, testing, and certification services has announced the acquisition of Synlab Analytics & Services. The acquisition will help expand of the capacity of the SGS group.
In 2020, SGS S.A, Swiss Multinational Specialist in Testing and Certification Services announced the acquisition of Analytics Services Providing Lab Facilities of International Service Laboratory from Novartis International AG’s Irish Subsidiary. Additionally, in 2019, TÜV SÜD, German Market leader in Testing and Verification announced the completion of the acquisition of the Technology of IWT4 Instrumented Wheelsets from Canada-based SNC-Lavalin Group Inc. The acquisition will help TÜV SÜD strengthen its market position in independent assessment, testing, and approval of railway vehicles.
Manufacturers, Suppliers and Distributors, Raw Material Suppliers, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations, End-Use Industries and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global Residue Testing market on the basis of product [Allergens, Pesticides and Others] , application [Fruits and Vegetables, Dairy Products, Meat and Poultry, Cereals, Grains & Pulses, Processed Food and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Residue Testing market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Residue Testing industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are AB Sciex, LLC (Canada), Scicorp Laboratories PTY LTD (South Africa) and Mettler Toledo (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Residue Testing market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.