Global Residue Testing Services Market: Introduction
- Residue testing is employed to identify various types of residues including pesticide residues, toxins, chemicals, pathogens, heavy metals, and allergens present in food products, animal feed, medicines, and beverages. A product is subjected to chemical or microbiological analysis in order to detect presence of residues in its ingredients.
- Residue testing services provide efficient analysis of the product with speedy results and simplicity of operation, with minimal labor for sample preparation
- Major types of residue testing include chromatography, spectroscopy, and immunoassay techniques. Residue testing marginalized the growth of any type of contamination.
Growth of Global Food & Beverages Industry to Drive Global Residue Testing Services Market
- The global residue resting services market is anticipated to expand significantly during the forecast period
- The global residue testing services market is driven by increase in the incidence of allergic reactions among people, rising chemical contamination in the food & beverages industry, growing trend of eating organic food, evolving international trade of food ingredients, and rising food safety regulations across the globe
- Rising awareness among consumers about the importance of organic and contaminant-free food is a key factor driving the global residue testing services market. The market is also augmented by the increasing number of stringent regulations in various countries to determine the quality of food and other products including medicines and animal feed.
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Pesticide Residue Segment to Witness Attractive Opportunities
- Based on type, the global residue resting services market can be segmented into pesticide residues, chemical and contaminant residues, food allergens, antibiotic residues, feed additives, heavy metals, minerals, and others
- The pesticide residues segment is anticipated to hold a major market share during the forecast period. Rising demand for pesticide-free food grains across the world and increasing government regulations on food safety are driving the demand for pesticide residue testing services across the globe.
Chromatography Segment to Witness Attractive Opportunities
- Based on technology, the global residue resting services market can be divided into chromatography based, spectroscopy, immunoassay, and others
- The chromatography segment is anticipated to hold a major market share during the forecast period. The segment is anticipated to witness rapid growth in the near future, due to high sensitivity and quick results offered by chromatography.
- Rising demand from agriculture and pharmaceutical industries is anticipated to drive the global residue resting services market during the forecast period
Food & Beverages Segment Holds a Major Share of Global Residue Testing Services Market
- Based on end-use, the global residue resting services market can be segmented into food & beverages, agriculture crops, feed & pet food, pharmaceutical, and others
- The food & beverages industry holds a major share of the global residue resting services market. Increasing demand for contaminant- and pesticide-free food and growth of the food industry are anticipated to drive the global residue testing services market during the forecast period.
Asia Pacific to Offer Attractive Opportunities to Residue Testing Services Market
- In terms of region, the global residue testing services market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe is anticipated to dominate the global residue testing services market during the forecast period. Germany is projected to constitute a major share of the residue resting services market in Europe during the forecast period.
- Presence of key service providers in the region boosts the market in Europe. Stringent government regulations imposed for food safety also drive the market in the region.
- North America has been a prominent end-user of residue resting services over the last few years. The U.S. held a major share of the residue resting services in North America in 2019.
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Key Players Operating in Global Residue Testing Services Market
The global residue resting services market is fragmented, with several regional and global manufacturers operating in the market. Prominent players operating in the market are investing in the launch of new products and technological advancements in order to maintain their leading position.
Key players operating in the global residue resting services market are:
- Nelson Labs NV
- SGS SA
- Pacific Biolabs
Global Residue Testing Services Market: Research Scope
Global Residue Testing Services Market, by Type
- Pesticide Residues
- Chemical and Contaminant Residues
- Food Allergens
- Antibiotic Residues
- Feed Additives
- Heavy Metals
- Others (Including Mycotoxins)
Global Residue Testing Services Market, by Technology
- Chromatography based
- High-pressure Liquid Chromatography
- Gas Chromatography
- Liquid Chromatography
- Mass Spectrometry
Global Residue Testing Services Market, by End-use
- Food & Beverages
- Agriculture Crops
- Feed & Pet Food
- Others (Including Medical Devices)
Global Residue Testing Services Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.