Asia Pacific Residue Testing Market Analysis, Trends, Size & Share 2022
The asia pacific residue testing market size was valued at USD 994.8 billion in 2021 and is poised to grow at a significant CAGR of 7.1% during the forecast period 2022-28. Residue testing is commonly used to ensure that product quality meets both national and international market access and safety criteria. Pesticides, food allergies, poisons, heavy metals, and other contaminants are detected using a variety of ways. They're often found in processed foods, fruits and vegetables, grains, dairy products, meat and poultry, and other goods. Pesticide residues, poisons, chemicals, pathogens, heavy metals, and allergies are among the residues that may be detected in food, animal feed, pharmaceuticals, and drinks using residue testing. To detect the existence of residues in a product's constituents, it is submitted to chemical or microbiological investigation. Residue testing services provide effective product analysis with quick results and ease of use, as well as little sample preparation work.
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The rise in allergic reactions among consumers is a key element driving market expansion; other important drivers driving the residue testing market are stricter food safety laws, more disposable income, and increased demand from emerging nations, among others. Furthermore, in the anticipated period of 2021-2028, an increase in market research and development efforts, as well as technical developments and modernization in the healthcare sector, would generate further chances for the residue testing market. However, among other factors acting as barriers, a lack of knowledge among food manufacturers about safety regulations and a scarcity of food control infrastructure and resources would provide a further challenge to the growth of the residue testing market during the projection period.
The asia-pacific residue testing market segmentation:
- 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
Due to an increase in the number of outbreaks of food residues, stricter food safety laws, and rising disposable income in this area, Asia-Pacific dominates the residue testing market. Furthermore, Asia-Pacific will have the greatest share of the market because to the rising need for testing laboratories, the expansion of food businesses, and food safety concerns.
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There are some major players working in asia-pacific residue testing market, which include SGS SA, Intertek Group plc., Eurofins Scientific Bureau veritas S.A., ALS Limited, Neogen Corporation, Idexx Laboratories, AsureQuality, Charm Sciences, Microbac Laboratories, and Unisensor
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