Future Market Insights (FMI), Dubai, UAE, March 24, 2020 (GLOBE NEWSWIRE) -- Global residue testing market will register robust growth at approximately 6.9% CAGR over the forecast period (2020-2030). Food & beverages application in particular continues to provide the thrust to market growth. Global organic revolution is the key factor boosting the demand for residue testing across the globe. On that premise, the global residue testing market hit approximately US$ 3.5 Bn in 2019, concludes the FMI report.
“Stringent regulations imposed by government on food safety protocols are projected to bode well for the residue testing market. Moreover, recent technological advancements are working in favor of the market. Food industry’s expansion will further augment the demand for residue testing during the forecast period,” finds FMI in a new study.
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Key Takeaways of Residue Testing Market Study
Residue Testing Market – Key Growth Factors
Residue Testing Market – Key Restraints
Explore the full residue testing market report with 96 illustrative figures, 64 data tables and table of contents. Request ToC of the study at https://www.futuremarketinsights.com/askus/rep-gb-2083
Competitive Landscape
Prominent players profiled in this FMI study include, but are not limited to, ALS Limited, Eurofins Scientific, Silliker Inc., Charm Sciences Inc., Neogen Corporation, Microbac Laboratories Inc., Bureau Veritas S.A., and Centers for Disease Control and Prevention (CDC). Industry leaders must invest their efforts in high-growth regions such as Asia Pacific which holds remunerative opportunities in foreseeable future. Greater reliance of emerging Asian economies on agricultural commodity is to be attributed for this growth.
More about the Report
This Future Market Insights study of 250 pages provides all-inclusive insights on the global residue testing market. The market analysis is based on type (pesticide residues, toxins, heavy metals, food allergens), technology (chromatography, spectroscopy, immunoassay), application (feed & pet food, agricultural crops, food & beverages, meat & poultry, dairy, processed foods, nuts, seeds and spices, cereals, grains, & pulses) across seven regions (North America, Latin America, Europe, Asia Pacific Excluding Japan, Oceania, Middle East & Africa).
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