Agriculture & Forestry Industry Market News

Pesticide residue testing market projected to grow at a CAGR of 7.0% according to market forecasts

The pesticide residue testing market is projected to reach USD 1.63 billion by 2022, at a CAGR of 7.0% from 2016 to 2022 while market is driving various factors such as implementation of stringent food safety regulations, international trade of food materials, and advancements in testing technologies.

The high growth potential in emerging markets and untapped regions provides new opportunities for market players. The lack of food control infrastructure & resources in developing countries, and the lack of awareness about food safety regulations among food manufacturers are the factors restraining the market growth.

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The herbicide segment is projected to grow at the highest CAGR during the forecast period, due to the highest production and application of herbicides in the agriculture. The increase in food trade and contamination of agriculture produces and food products, especially in imported food products is also a significant driver.

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The exposure to these substances has caused concerns of possible health consequences, which in turn has increased the demand for herbicides residue testing. This is followed by fungicides, which is projected to remain the second-largest market through 2022.

Complete report on Pesticide Residue Testing Marketspread across 178 pages, profiling 10 companies and supported with 79 tables and 55 figures is now available at www.reportsnreports.com/reports/764004-pesticide-residue-testing-market-by-type-herbicides-insecticides-fungicides-technology-lc-ms-gc-ms-hplc-gas-chromatography-class-organochlorines-organophosphates-organonitrogens-carbamates-food-test-st-to-2022.html  .

Study on Pesticide Residue Testing, has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (35%); Tier 2 (45%) and other (20%) companies were contacted for interviews.

The interviews were conducted on Pesticide Residue Testing with various key people such as C level (35%), Director Level (25%) and others (40%) from various key organizations.

The primary interviews were conducted worldwide covering regions such as North America (45%), Europe (30%), Asia-Pacific (20%), and Row (5%).

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The key players in the pesticide residue testing market include:

  • Eurofins Scientific (Luxembourg)
  • Intertek Group plc (U.K.)
  • SGS S.A. (Switzerland)
  • Bureau Veritas S.A. (France)
  • Silliker Inc. (U.S.)

The above-mentioned companies collectively accounted for the largest portion of the pesticide residue testing market in 2015. Other players that also have a strong presence in this market are as follows:

  • ALS limited (Australia)
  • AsureQuality Limited (New Zealand)
  • SCS Global Services (U.S.)
  • Microbac Laboratories, Inc. (U.K.)
  • Symbio Laboratories (Australia)
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