Global Residue Testing Market:

Global Residue Testing Market estimated to be valued over US $3,300 Mn in 2016 and expanding at a growth rate about 7% from 2017 to 2023.

Agriculture residue is a word which is used to describe the small traces of veterinary and agricultural chemicals, their breakdown products which remain inside or outside of the agricultural product. In other words it is a contaminant which shows negative effects on the health and safety of the consumers. Usually residues include traces of heavy metals, mycotoxins, micro-organisms, among others. Residue testing is performed in order to determine whether the agro products complies with Minimum residue limits (MRL) or Maximum levels (ML) for chemical and metal residues and to check whether the soils contains any organochlorine insecticides residues such as DDT and dieldrin, among others.

Stringent regulations to test the hazardous elements, rising awareness and health concerns are enabling accelerate growth of the residue testing market. Furthermore, technological advancements in testing, growing international trade for the food materials, presence of large number of untapped markets in emerging regions and increasing in sustainable food production are also boosting the growth of the residue testing market globally. However, strict food production regulations, unavailability of food control infrastructure and resources, lack of awareness about the safety regulations are expected to hinder the growth of the residue testing market.

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The residue testing market is classified on the basis of type of residue, technology, application, and geography.

Based on type, the residue testing market is segmented into the following:
- Toxins
- Mycotoxins
- Others
- Pesticide residues
- Insecticides
- Herbicides
- Fungicides
- Others
- Food allergens
- Veterinary drugs
- Heavy metals

Based on technology, the residue testing market is segmented into the following:
-Immunoassay
- Spectroscopy
- Chromatography (LC, GC, HPLC)
- Other technologies

Based on application, the residue testing market is segmented into the following:
- Dairy products
- Fruits & vegetables
- Meat & poultry
- Cereals, grains & pulses
- Processed foods
- Functional food ingredients
- Nuts, seed & spice
- Others

Residue testing market is expected to gain traction due to strong demand growth for packaged foods and specialty diets. Dissolution for trade obstacles and resulting improvements in international food trade has augmented the necessity for consolidation of residue testing regulations. Emerging markets in Asia pacific will offer great potential for residue testing market due to the high reliance on the agro commodities. Various developed regions have implemented the tolerance levels in food products which is fueling the residue market growth. Recent advancements in the microbial testing methods are expected to boost the residue testing market globally.

On the basis of geographical regions, residue testing market is classified as into five key regions as Europe, Asia-Pacific, North America, Middle East & Africa and Latin America. Europe and North America are dominating the residue testing market. Asia pacific is leading the residue testing market due to tremendous increase in food regulations in countries like India and china, presence of untapped markets, growing population pool, increasing food exports and imports, and inclination of focus towards the Asia Pacific countries. For instance, Eurofins has expanded its food testing labs to China in order to strengthen its market presence and to grab opportunities.

Some of the players in residue testing market are Intertek Group plc. (U.K.), SGS S.A. (Switzerland), Silliker Inc. (U.S.), Eurofins Scientific (Luxembourg), Bureau Veritas S.A. (France), ALS Limited (Australia), Microbac Laboratories, Inc. (U.S.) and AsureQuality Laboratories (New Zealand).

In January 2016, NSF International, an auditing, analyzing & certification services provider for food industries, dietary supplement and natural product acquired Authen Technologies a provider of Next-Gen DNA based species identification services to improve quality, authenticity and safety of natural products, dietary supplements etc.

In 2016 December, SGS has acquired Biopremier stakes in order to compete in next generation sequencing technique of food allergen.

Report Outline:
-The report provides granular level information about the market size, regional market share, and forecast from 2017-2023
-The report covers in-detail insights about the competitor’s overview, key findings, and their key strategies
-The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
-The report tracks recent innovations, key developments, and startup’s details that are working in the industry
-The report provides plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

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