Residue Testing Market Competitive And Growth Analysis 2024 | Eurofins Scientific SE, Bureau Veritas SA, SGS SA, Intertek Group plc, Symbio Laboratories Pty Ltd

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Residue Testing Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $6.73 billion In 2028 At A CAGR Of 7.5% :

The residue testing market size has grown strongly in recent years. It will grow from $4.72 billion in 2023 to $5.03 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to food safety regulations, increased pesticide usage, consumer awareness, quality assurance in agriculture, stringent veterinary drug controls, environmental pollution concerns, public health concerns.

The residue testing market size is expected to see strong growth in the next few years. It will grow to $6.73 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to focus on microbial residue testing, global harmonization of standards, consumer demand for transparency, preventive residue management, climate change impact on residue levels. Major trends in the forecast period include rapid testing technologies, blockchain for traceability, strategic collaborations in testing services, customization of testing protocols, multi-residue analysis methods, mycotoxin detection.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=8886&type=smp

Residue Testing Market Major Segments
The residue testing market covered in this report is segmented -

1) By Type: Chromatography, Spectroscopy, Immunoassay, Other Types
2) By Product Type: Pesticide Residues, Toxins, Heavy Metals, Food Allergens, Other Types
3) By Application: Meat and Poultry, Dairy Products, Processed Foods, Fruits and Vegetables, Cereals, Grains and Pulses, Nuts, Seed and Spice, Other Applications

Key Driver - Rising Chemical Contamination Drives Growth In Residue Testing Market

The increasing outbreaks of chemical contamination in food processing industries are expected to propel the residue testing market. Chemical contamination refers to the appearance or addition of chemical substances in foods. Increasing chemical contamination requires inspection, testing, and certification to purify the product, for which residue testing is utilized. For instance, in May 2022, according to WHO, a UN agency for international public health, it was estimated that in 600 million, almost 1 in every 10 people fall ill after eating contaminated food. Further, around 4,20,000 die every year due to contaminated food, losing 33 million healthy life years. Therefore, the increasing outbreaks of chemical contamination are driving the growth of the residue testing market.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=8886&type=smp

Prominent Trend - Mobile Residue Monitoring Labs Transforming The Residue Testing Market

Major companies operating in the residue testing market are developing mobile residue testing laboratory to gain a competitive edge in the market. This initiative aims to support farmers and exporters in making faster purchase decisions, especially considering changes in agriculture-related laws. For instance, in October 2021, Eurofins Scientific SE, a Luxembourg-based testing laboratories company launched a mobile residue monitoring laboratory to offer rapid and accurate testing services near farms and procurement markets. The mobile lab, equipped with advanced instruments, including LCMSMS and GCMSMS, will focus on testing major export commodities like basmati rice, cumin, chilli, and soya. By reducing turnaround time by over 50%, the lab enables quicker transactions, empowering farmers and enhancing India's export capacity. The mobile lab is designed to travel across the country, providing on-the-spot testing services for agri commodities.

Residue Testing Market Players
Major companies operating in the residue testing market report are Eurofins Scientific SE, Bureau Veritas SA, SGS SA, Intertek Group plc, Symbio Laboratories Pty Ltd., ALS Limited, AsureQuality Limited, Microbac Laboratories Inc., QTS Analytical Ltd., NSF International, Arbro Pharmaceuticals Private Limited, Fera Science Limited, AB Sciex LLC, Meth Lab Cleanup Company LLC, Trilogy Analytical Laboratory Inc., Waters Agricultural Laboratories Inc., Neogen Corporation, Mérieux NutriSciences Corp., Romer Labs Division Holding GmbH, TÜV SÜD AG, Nelson Laboratories LLC, Pacific BioLabs Inc., Pace Analytical Services LLC, Avomeen Analytical Services, Brooks Applied Labs LLC, EMSL Analytical Inc., Exova Group Limited, Food Safety Net Services, IEH Laboratories & Consulting Group, Maxxam Analytics, Micro Quality Labs Inc., Midwest Laboratories Inc., RJ Lee Group Inc., Silliker Inc., SRC Analytical Laboratories, Summit Environmental Technologies Inc., TestAmerica Laboratories Inc., Whitehouse Laboratories

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/residue-testing-global-market-report

Largest And Fastest Growing Region In The Market
North America was the largest region in the residue testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the residue testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Residue Testing Market Report Structure
3. Residue Testing Market Trends And Strategies
4. Residue Testing Market - Macro Economic Scenario
5. Residue Testing Market Size And Growth
…..
27. Residue Testing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ "

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.