The Pesticide Residue Testing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Pesticide Residue Testing Global Market Report 2024, The pesticide residue testing market size has grown strongly in recent years. It will grow from $1.74 billion in 2023 to $1.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to stringent regulatory standards, globalization of food supply chains, increased pesticide usage in agriculture, consumer awareness and demand for safe food, expansion of organic farming, trade associations and certification programs.
The pesticide residue testing market size is expected to see strong growth in the next few years. It will grow to $2.5 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to emergence of new pesticides, focus on sustainable agriculture, demand for rapid testing methods, consumer preferences for residue-free products, regulatory shifts and updates. Major trends in the forecast period include advancements in analytical techniques, multi-residue analysis, blockchain technology for traceability, awareness and education initiatives, collaborative efforts for residue monitoring, rapid technological innovations.
The rising number of food-borne illnesses is expected to propel the pesticide residue testing market going forward. Food-borne illnesses refer to diseases and illnesses caused by consuming food that is contaminated. Pesticide residue testing is done to prevent and protect consumers from the adverse effects of pesticides that are mixed with food. For instance, the United Nations, a US-headquartered intergovernmental organization, published an article in May 2022 that said approximately 600 million people around the world fall ill after consuming contaminated food, and 1 in 10 people in the world suffer from food-borne diseases. For another instance, the California Department of Public Health, a US-based public health department, published an article in April 2023 that said that almost 48 million people are affected by foodborne illnesses annually in the US. Therefore, the rising number of food-borne illnesses will drive the growth of the pesticide residue testing market.
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The pesticide residue testing market covered in this report is segmented –
1) By Type: Herbicides, Fungicides, Insecticides, Other Types
2) By Technology: LC-MS Or GC-MS, HPCL, Gas Chromatography, Other Technologies
3) By Food Tested: Meat And Poultry, Dairy Products, Processed Foods, Fruits And Vegetables, Cereals, Grains And Pulses, Other Foods Tested
4) By Class: Organ chlorines, Organophosphates, Organonitrogens, Carbamates, Other Classes
Major companies operating in the pesticide residue testing market are launching new products such cannabis testing to increase their profitability in the market. Cannabis testing refers to the analytical processes and techniques used to assess the chemical composition, potency, purity, and safety of cannabis products. For instance, in March 2021, PerkinElmer Inc., a US-based company focussed on precision optics, has launched ONE Pesticide420 CRM Reagent and Consumable Kit that uses LCMS for cannabis testing. These kits simplify the testing process by removing the need for clients to spend time and energy creating complex preparation methods for quantitative pesticide and mycotoxin analysis. The kits also include verified calibration curves and internal standards.
The pesticide residue testing market report table of contents includes:
1. Executive Summary
2. Pesticide Residue TestingMarket Characteristics
3.Pesticide Residue Testing Market Trends And Strategies
4.Pesticide Residue Testing Market analysis
5.Pesticide Residue Testing Market Size And Growth
6.Pesticide Residue Testing Segmentation
7.Pesticide Residue Testing Regional And Country Analysis
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27.Pesticide Residue Testing Competitive Landscape And Company Profiles
28.Pesticide Residue Testing Key Mergers And Acquisitions
29. Pesticide Residue Testing Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Eurofins Scientific SE
- Bureau Veritas SA
- SGS SA Intertek Group PLC
- Silliker Inc.
- ALS Limited
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