Asia Pacific Residue Testing Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2021 and Forecast 2022-2028

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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.

 

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Report

Description

Asia Pacific Residue Testing Market was valued at USD 994.8 million in 2021, growing at a high CAGR of 7.1% from 2022 to 2028 to reach USD 1,602.7 million by 2028. 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.

 

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.

Asia Pacific Residue Testing Market

MARKET SUMMARY
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7.1% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 7.1%
  • Largest Market– China
  • Fastest Growing Market– Japan

Asia Pacific Residue Testing Market

  • The asia-pacific residue testing market report gives comprehensive outlook across the globe with special emphasis on key regions such as on India, Japan, China, Korea, Australia, Singapore, and Rest of the Asia Pacific countries.
  • The report on asia-pacific residue testing market gives historical, current, and future market sizes (US$ Mn) on the basis of residue type, technology, application and country.
Key Players
  • SGS SA
  • Intertek Group plc.
  • Eurofins Scientific
  • Bureau veritas S.A.
  • ALS Limited
Asia Pacific Residue Testing Market Insights

In 2021, pesticide residue had a market revenue share of 34.5%, and from 2022 to 2028, it is predicted to increase at a CAGR of 6.9%, increasing awareness of food testing. By application, fruits & vegetables have a market share of 19.8% and are expected to increase at a CAGR of 7.2% in the future years.


Asia Pacific Residue Testing Market

China’s residue testing market is expected to be worth USD 317.8 million in 2021, growing at a high CAGR of 6.3% from 2022 to 2028 to reach USD 457.3 million by 2028. Owing to strict food and safety standards, developments in testing technologies, and international trade of food commodities Furthermore, rising economies with great development potential, such as China, give new opportunities for key manufacturers.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The asia pacific residue testing market report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Asia Pacific Residue Testing Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The asia pacific residue testing market is projected to expand at a CAGR of 7.1% during the forecast period.

SCS Global Services, Eurofins Scientific, Bureau Veritas, SGS SA, Intertek Group plc

The asia pacific residue testing market segmented based on type, technology, application, and country.


Report

Company Profile

  • SGS SA
  • Intertek Group plc.
  • Eurofins Scientific
  • Bureau veritas S.A.
  • ALS Limited
  • Neogen Corporation
  • Idexx Laboratories
  • AsureQuality
  • Charm Sciences, Inc.
  • Microbac Laboratories, Inc.
  • Unisensor

Description

Asia Pacific Residue Testing Market was valued at USD 994.8 million in 2021, growing at a high CAGR of 7.1% from 2022 to 2028 to reach USD 1,602.7 million by 2028. 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.

 

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.

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