Asia-Pacific Residue Testing Market: By Residue Type (Toxins [Mycotoxins, Others], Pesticide Residues [Insecticide, Herbicide, Fungicide, Others], Food Allergens, Veterinary Drugs, Heavy Metals), By Technology (Immunoassay, Spectroscopy, Chromatography, Others), By Application (Dairy products, Fruits & Vegetables, Meat & Poultry, Cereals, Grains & Pulses, Processed Foods, Functional Food Ingredients, Nuts, Seed & Spice, Others) and Country  

Asia Pacific Residue Testing Market was valued at US$ 996.8 million in 2023 and is poised to grow at a high CAGR of 7.1% from 2024 to 2030 to reach US$ 1,702.7 million by 2030. Various rules & regulations have been implemented by different countries; Food security standards are becoming increasingly stringent to ensure a safer supply of food to individuals in local countries; Food safety is gaining importance in the region due to incidences of food contamination with chemical residues, over-use of pesticides can lead to dangerous levels of hazardous chemicals entering the food chain. Fresh fruit and vegetables are being consumed in increasing quantities, and it is this fresh produce that is most susceptible to pesticide residues; increasing awareness regarding safety and quality food drives the residue testing market in the region.

Residue testing ensures that our products' quality meets domestic and international market access and safety requirements. It's mostly used to find, quantify, and investigate pesticide residues in human meals, livestock feeds, and drinking water. Residue data is then used to assess dietary risk and estimate the Maximum Residue Level. The residue testing market is surging owing to frequent acquisitions and launchings by the market players. Strategic alliances by the players such as acquisitions, mergers, expansions, and new product launches may enhance the company's growth. For instance, In August 2019, Arbro Pharmaceuticals Offers Specialized Testing Facilities at NFL Ghaziabad, which will provide food safety in the country. However, the high cost associated with testing and the lack of food control infrastructure and resources in under-developed countries hampers the asia pacific residue testing market growth.  

Asia-Pacific Residue Testing Market Key Developments:

In January 2021, Neogen Corporation announced that it had acquired Ireland-based Megazyme, Ltd., a major supplier of analytical solutions used by quality control laboratories in the global food and beverage industries.