Market Size of Residue Testing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Residue Testing Market Analysis
The global residue testing market is projected to grow with a CAGR of 6.6% during the forecast period (2019-2024).
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The residue testing market is driven by heightened consumer awareness regarding the safety aspects of food products.
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The higher budgetary allocation for the areas concerning food safety and security have also provided major boost to the growth of the market.
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Processed foods are the major category of products that are increasingly tested for safety and quality profiles. Based on the regional analysis, North America is a dominating region, in residue testing market closely followed by Europe.
- The global marketplace has a prominent presence of key players, however the local players are abundant, and thus, the market has a fragmented character.
