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Description
North America Residue Testing Market was valued at USD 1,323.9 million in 2021, growing at a high CAGR of 6.0% from 2022 to 2028 to reach USD 1,984.1 million by 2028. The adoption and application of strict food safety rules, such as the zero-tolerance policy for Listeria contamination, has fuelled the growth of residue testing. The new Food Safety Modernization Act (FSMA) laws will have a significant impact on the food sectors in North America as consumers demand greater transparency regarding food safety. With recent revelations of arsenic in apple juice and acrylamide in processed potatoes and cereals, consumer awareness of chemical tests is growing. In 2021, pesticide residue had a market revenue share of 27.9%, and from 2022 to 2028, it is predicted to increase at a CAGR of 5.4%, increasing awareness of food testing. By technology, chromatography-based testing has a market share of 31.3% and is expected to increase at a CAGR of 6.1% in the future years. However, the lack of standardization and inappropriate standard of sample collection hampers the residue testing market.
key developments:
In August 2018, ALS Limited acquired Truesdail Laboratories, LLC (TLI). ALS is a leading testing, inspection, certification, and verification company. With this acquisition, both companies will broaden ALS testing solutions delivering substantial value to existing and new customers.
