Global Residue Testing Market is set to witness a substantial CAGR of 6.57% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand for food safety and global movement of organic revolution are the factor for the growth of this market.
Few of the major competitors currently working in the global residue testing market are Eurofins Scientific, Bureau Veritas, SGS SA, Intertek Group plc, ALS Limited, Scientific Certification Systems, Inc., Microbac Laboratories, Inc., Symbio Laboratories, SciCorp Laboratories (Pty) Ltd, AB Sciex, NSF International., and others
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Global residue testing market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of residue testing market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Few Major Key Competitors are | ©, Agriculture and Food Laboratory, METH RESIDUE TESTING, NEOGEN CORPORATION, QTS Analytical, Waters Agricultural Laboratories, Inc., Trilogy Analytical Laboratory among others.
Table of Contents
- Market Segmentation
- Market Overview
- Executive Summary
- Premium Insights
- Global, By Component
- Product Type
- Industry Type
10.2. North America
10.5. South America
10.6. Middle East & Africa
- Company Landscape
- Company Profiles
- Related Reports
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Global Residue Testing Market By Type (Pesticides, Toxins, Heavy Metal, Food Allergens, Other Residues), Technology (Chromatography, Spectroscopy, Immunoassay, Other), Food Tested (Meat & Poultry, Dairy Products, Processed Food, Fruits & Vegetables, Cereals, Grains & Pulses, Nut, Seed & Spice Products, Other), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast
- Rising chemical contamination in food processing industries are the factor for the growth of this market
- Growing allergic reaction among consumer acts as a market driver
- Strict food safety regulations will also accelerate the market growth
- Rising disposable income drives the growth of this market
- Dearth of food control infrastructure and resources will restrain the market growth
- Lack of awareness in food manufacturer about safety regulation will also hamper the market growth
Key Developments in the Market:
- In November 2018, Matrix Sciences announced the acquisition of Pacific Agricultural Laboratory, This acquisition will help the company to provide full service network to their customers. With PAL expertise in residue testing, Matrix will able to meet the rising demand of their customers and will also expand their business in different countries
- In May 2016, Neogen announced the launch of their new test which is specially designed so they can detect different veterinary drugs in food. This new test has the ability to detect florfenicol, clenbuterol, oxytetracycline and avermectins. These tests are cost- effective and are accurate as compared to the instrument-based tests. The main aim of the launch is to inexpensive testing options for veterinary drug residues in food so customer can get residue free food
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