Pesticide Residue Testing Market Size, Share, Trends, Analysis, Forecast 2023-2029
Market Overview
The pesticide residue testing market has experienced significant growth in recent years due to increasing concerns about food safety and the presence of harmful chemicals in agricultural products. This growth is expected to continue in the coming years, driven by the rising demand for safe and healthy food, stringent regulations, and technological advancements.
Market Size and Forecast
The global pesticide residue testing market size was valued at USD 172 billion in 2023 and is projected to reach USD 240 billion by 2029, exhibiting a CAGR of 6.1% during the forecast period.
Key Drivers
- Growing demand for safe and healthy food
- Stringent regulations on pesticide usage
- Rising consumer awareness about the potential health risks of pesticide residues
- Advancements in analytical techniques
Segmentation
By Type:
- Herbicides
- Insecticides
- Fungicides
By Crop:
- Fruits and vegetables
- Cereals and grains
- Oilseeds and pulses
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The pesticide residue testing market is highly competitive, with several established players operating globally. Some of the key players include:
- Eurofins Scientific
- SGS
- Bureau Veritas
- Intertek Group PLC
- ALS Limited
Conclusion
The pesticide residue testing market is expected to witness significant growth in the coming years, driven by increasing demand for safe food, stringent regulations, and technological advancements. Key players in the market are focusing on expanding their capabilities and geographical presence to cater to the growing demand.
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