The pesticide residue testing market is projected to reach USD 1.63billion by 2022, at a CAGR of 7.0% from 2016 to 2022.
The market is driven by factors such as implementation of stringent food safety regulations, international trade of food materials, and advancements in testing technologies. The high growth potential in emerging markets and untapped regions provides new opportunities for market players. The lack of food control infrastructure & resources in developing countries, and the lack of awareness about food safety regulations among food manufacturers are the factors restraining the market growth.
The herbicide segment is projected to grow at the highest CAGR during the forecast period, due to the highest production and application of herbicides in the agriculture. The increase in food trade and contamination of agriculture produces and food products, especially in imported food products is also a significant driver. The exposure to these substances has caused concerns of possible health consequences, which in turn has increased the demand for herbicides residue testing. This is followed by fungicides, which is projected to remain the second-largest market through 2022.
Europe was the largest pesticide residue testing market in 2015. Governing organizations present in the market have enforced various pesticide residue testing policies. The Asia-Pacific market is projected to be the fastest-growing market during the forecast period due to the increasing food safety concerns among the consumers and the growing processed food market.
- ALS Limited
- Asurequality Ltd.
- Bureau Veritas S.A.
- Eurofins Scientific Se
- Intertek Group PLC
- Microbac Laboratories, Inc.
- SCS Global Services
- SGS S.A.
- Silliker, Inc.
- Symbio Laboratories
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Pesticide Residue Testing Market, By Type
7 Pesticide Residue Testing Market, By Technology
8 Pesticide Residue Testing Market, By Food Tested
9 Pesticide Residue Testing Market, By Class
10 Pesticide Residue Testing Market, By Region
12 Competitive Landscape
13 Company Profiles
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