- Pesticide Residues
- Food Allergens
- Veterinary Drugs
- Heavy Metal
Europe Residue Testing Market size was valued at USD 783.0 million in 2022 and is poised to grow at a CAGR of 6.5% from 2023-2029. The market is driven by increasing European Union regulations for residue testing in food like pesticide testing, rising awareness in consumers regarding the risk of pesticide and fungicide consumption, increasing research activities, increasing disease incidence, and the increasing need for food products. As a result, we are increasing safety standards and the increased demand for food security. The residue testing market is surging owing to frequent acquisitions and launchings by the market players. Strategic alliances by the players, such as acquisitions, mergers, expansions, and new product launches, may enhance the company growth. For instance, In July 2018, Eurofins Scientific, a global scientific leader in bioanalytical testing, announced that it had successfully closed the acquisition of Laboratorios Ecosur S.A., one of the leaders of the Food Safety testing market in Spain. However, the lack of standardization and inappropriate standard of sample collection hampers the europe residue testing market.
In 2021, pesticide residue had a market revenue share of 31.2%, and from 2021 to 2027, it is predicted to increase at a CAGR of 6.2%, increasing awareness of food testing. By technology, chromatography-based testing has a market share of 23.7% and is expected to increase at a CAGR of 6.1% in the future years.
The residue testing market is projected to expand at a CAGR of 6.5% during the forecast period
SCS Global Services, Eurofins Scientific, Bureau Veritas, SGS SA, Intertek Group plc, ALS Limited, AB SCIEX, LLC, Symbio Laboratories