Pesticide Residue Testing Global Market Report 2024 Market Size, Trends And Forecast Report 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Pesticide Residue Testing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The pesticide residue testing market size has grown strongly in recent years. It will grow from $1.74 billion in 2023 to $1.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to stringent regulatory standards, globalization of food supply chains, increased pesticide usage in agriculture, consumer awareness and demand for safe food, expansion of organic farming, trade associations and certification programs.

The pesticide residue testing market size is expected to see strong growth in the next few years. It will grow to $2.5 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to emergence of new pesticides, focus on sustainable agriculture, demand for rapid testing methods, consumer preferences for residue-free products, regulatory shifts and updates. Major trends in the forecast period include advancements in analytical techniques, multi-residue analysis, blockchain technology for traceability, awareness and education initiatives, collaborative efforts for residue monitoring, rapid technological innovations.

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Market Drivers and Trends:

The rising number of food-borne illnesses is expected to propel the pesticide residue testing market going forward. Food-borne illnesses refer to diseases and illnesses caused by consuming food that is contaminated. Pesticide residue testing is done to prevent and protect consumers from the adverse effects of pesticides that are mixed with food. For instance, the United Nations, a US-headquartered intergovernmental organization, published an article in May 2022 that said approximately 600 million people around the world fall ill after consuming contaminated food, and 1 in 10 people in the world suffer from food-borne diseases. For another instance, the California Department of Public Health, a US-based public health department, published an article in April 2023 that said that almost 48 million people are affected by foodborne illnesses annually in the US. Therefore, the rising number of food-borne illnesses will drive the growth of the pesticide residue testing market.

Major companies operating in the pesticide residue testing market are launching new products such canabis testing to increase their profitability in the market. Canabis testing refers to the analytical processes and techniques used to assess the chemical composition, potency, purity, and safety of canabis products. For instance, in March 2021, PerkinElmer Inc., a US-based company focussed on precision optics, has launched ONE Pesticide420 CRM Reagent and Consumable Kit that uses LCMS for canabis testing. These kits simplify the testing process by removing the need for clients to spend time and energy creating complex preparation methods for quantitative pesticide and mycotoxin analysis. The kits also include verified calibration curves and internal standards.

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Major Key Players of the Market:

Eurofins Scientific SE; Bureau Veritas SA; SGS SA; Intertek Group plc; Silliker Inc.; ALS Limited; AsureQuality Limited; Scientific Certification Systems Inc.; Microbac Laboratories Inc.; Symbio Laboratories; Mérieux NutriSciences Corporation; Neogen Corporation; Charm Sciences Inc.; Premier Analytical Services; Dairyland Laboratories Inc.; Agilent Technologies Inc.; Thermo Fisher Scientific Inc.; Waters Corporation; Shimadzu Corporation; Merck KGaA; Bruker Corporation; Restek Corporation; LECO Corporation; Scientific Exchange Corporation; Torrent Research Centre; FoodChain ID Inc.; AB Sciex LLC; PerkinElmer Inc.; Labcorp - Laboratory Corporation of America Holdings; Quest Diagnostics N.V.

Pesticide Residue Testing Market 2024 Key Insights:

• The pesticide residue testing market will grow to $2.5 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• Pesticide Residue Testing Market Soars Amid Rising Food-Borne Illnesses
• Pesticide Residue Testing Giants Introduce Innovative Canabis Testing Kits
• Europe was the largest region in the pesticide residue testing market in 2023

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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.

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