The Business Research Company's Pesticide Residue Testing Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 12, 2024 /EINPresswire.com/ -- The global pesticide residue testing market has experienced significant growth, expanding from $1.74 billion in 2023 to $1.86 billion in 2024, with a compound annual growth rate (CAGR) of 6.9%. Despite challenges, the market is projected to grow to $2.5 billion by 2028 at a CAGR of 7.7%, driven by several key factors including the emergence of new pesticides, a focus on sustainable agriculture, and increasing demand for residue-free products.

Rising Demand for Organic Food Drives Market Expansion
The increasing consumer preference for organic food is a major driver of the pesticide residue testing market. Organic food, produced without synthetic pesticides, GMOs, or irradiation, requires rigorous testing to ensure authenticity and safety. According to the Organic Trade Association, organic sales surged by $1.4 billion in 2021, surpassing $63 billion. This growing demand for organic products underscores the need for reliable pesticide residue testing to maintain consumer trust and regulatory compliance.

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Key Players and Market Trends
Major players in the pesticide residue testing market include Eurofins Scientific SE, Bureau Veritas SA, SGS SA, Intertek Group PLC, and Thermo Fisher Scientific Inc. These companies are focusing on innovation and new product launches to enhance their market position. For example, PerkinElmer Inc. introduced the ONE Pesticide420 CRM Reagent and Consumable Kit in March 2021, designed for efficient cannabis testing.

Trends Shaping the Market
Significant trends influencing the pesticide residue testing market include:
• Advancements in Analytical Techniques: Improved methods for detecting pesticide residues.
• Multi-Residue Analysis: Techniques that enable the simultaneous detection of multiple pesticides.
• Blockchain Technology: Enhancing traceability and transparency in the food supply chain.
• Collaborative Efforts: Joint initiatives for more effective residue monitoring.

Segments:
• Type: Herbicides, Fungicides, Insecticides, Other Types
• Technology: LC-MS or GC-MS, HPCL, Gas Chromatography, Other Technologies
• Food Tested: Meat and Poultry, Dairy Products, Processed Foods, Fruits and Vegetables, Cereals, Grains and Pulses, Other Foods Tested
• Class: Organ Chlorines, Organophosphates, Organonitrogens, Carbamates, Other Classes

Geographical Insights: Europe Leading the Market
Europe was the largest market for pesticide residue testing in 2023 and continues to be a key region due to stringent regulatory standards and high consumer demand for safe food products. The market in Europe is expected to maintain its leading position, driven by advanced testing technologies and robust regulatory frameworks.

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Pesticide Residue Testing Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Pesticide Residue Testing Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pesticide residue testing market size, pesticide residue testing market drivers and trends, pesticide residue testing market major players, competitors' revenues, market positioning, and market growth across geographies. The pesticide residue testing market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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