Latin America Residue Testing Market: By Type (Toxins (Mycotoxins and Others), Pesticide Residues (Insecticide, Herbicide, Fungicide, and Others), Food Allergens, Veterinary Drugs, and Heavy Metal), By Technology (Chromatography based (HPCL, GC, LC, LC-MS/MS), Spectroscopy, Immunoassay), By Application (Dairy Products, Fruits & Vegetables, Meat & Poultry, Cereals, Grains & Pulses, Processed Foods, Functional Food Ingredients, and Nuts, Seeds & Spices) and Country

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Latin America residue testing market was valued at USD 423.6 million in 2022 and is poised to grow at a high CAGR of 6.4% from 2023 to 2029 to reach USD 655.3 million by 2028. Government regulations for pesticide residue testing set by Chilian regulations, technological advancement for testing food items, The lack of evaluations of toxicological risks in human health has increased uncertainty of the potential effects of pesticide exposures in the Chilean population, leading to increasing programmes for testing of pesticide residues in the metropolitan regions of Chile, Brazil, and Mexico, which drive the market. In 2021, insecticide residue had a market revenue share of 23.5%, and from 2022 to 2028, it is predicted to increase at a CAGR of 6.1%, as increasing awareness of food testing. By technology, LC-MS/MS testing has a market share of 45.6% and is expected to increase at a CAGR of 6.5% in the future years. However, and the lack of standardization and inappropriate standard of sample collection hampers the Residue Testing Market.

Latin America Residue Testing Market Key Developments:
  • In February 2021, PrimusLabs is excited to announce the opening of a new laboratory near Guadalajara, Mexico. The new microbiological laboratory offers testing for pathogens and indicator organisms in product, water, soil, or environmental surfaces.
 

Latin America Residue Testing Market Dynamics

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 June 2018, Bureau Veritas is pleased to announce the new addition of highly sophisticated analytical services for Residues & Contaminants in food and beverage samples at their Food & Water Testing Laboratory. This method is worldwide recognized for detecting and accurately quantifying a variety of food risks, including newly discovered and emergent food-related problems.

Latin America Residue Testing Market Segmentation

By Type
  • Toxins
  • Pesticide Residues
  • Food Allergens
  • Veterinary Drugs
  • Heavy Metal
By Technology
  • Immunoassay
  • Spectroscopy
  • Chromatography (LC, GC, HPLC)
  • Others
By Application
  • Dairy Products
  • Fruits & vegetables
  • Meat & poultry
  • Cereals, grains & pulses
  • Processed foods
  • Functional Food Ingredients
  • Nuts, Seeds & Spices

Frequently Asked Questions

The latin america residue testing market is projected to expand at a CAGR of 6.4% during the forecast period

SGS SA, Intertek Group plc., Eurofins Scientific, Bureau veritas S.A., ALS Limited

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
  • SGS SA
  • Intertek Group plc.
  • Eurofins Scientific
  • Bureau veritas S.A.
  • ALS Limited

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