Market Leaders - the Pesticide Residue Testing Market
The pesticide residue testing market is projected to grow at a CAGR of 7.0% from 2016 to 2022. This market is driven by the implementation of stringent food safety regulations and the global movement of organic revolution. The growth in international trading of food materials and the increasing chemical contamination outbreaks have led to the need for pesticide residue testing.
The key market players have adopted strategies such as acquisitions, expansions, investments, and new service launches of business operations to meet the growing demand for pesticide residue testing. Eurofins Scientific SE (Luxembourg), Bureau Veritas S.A. (France), SGS S.A. (Switzerland), Intertek Group Plc (U.K.), and Silliker, Inc. (U.S.). The other players who are active in the industry are ALS limited (Australia), AsureQuality Limited (New Zealand), SCS Global Services (U.S.), Microbac Laboratories, Inc. (U.K.), and Symbio Laboratories (Australia).
Eurofins Scientific (Luxembourg) is one of the leading pesticide residue testing service providers due to its strong global presence and service infrastructure. The company focused on increasing its geographic presence through acquisitions and expansions & investments between 2011 and 2016. In September 2016, Eurofins Scientific expanded its presence in Asia-Pacific by increasing its capacity with an advanced food testing laboratory in Singapore. This would help in serving the growing food & beverages market in the region. In July 2016, the company acquired Agfirst Bay of Plenty (New Zealand), one of the leading fruit maturity testing laboratories in New Zealand. This acquisition would help Eurofins Scientific in complementing existing competencies and reinforcing the company’s network and analytical capabilities to better serve the food and agricultural industries in New Zealand and Asia-Pacific.
Intertek Group Plc (U.K.) is one of the active players in the pesticide residue testing market; it provides trace residue analysis services to detect, identify, and quantify the presence of pesticides. The company offers residue testing for pesticides to provide effective solutions to the problems presented by the over-use of these chemicals in crop production. In 2016, Intertek acquired Food International Trust (Italy), a provider of assurance, testing, and certification services. The acquisition helped the company to expand its food quality and safety services in Italy. In 2014, the company expanded its global footprint by opening three new food testing laboratories around the world; these laboratories were located in the U.K., the Philippines, and Germany, in order to serve its growing global client network.
Related Reports:
Pesticide Residue Testing Market by Type (Herbicides, Insecticides, Fungicides), Technology (LC-MS/GC-MS, HPLC, Gas Chromatography), Class (Organochlorines, Organophosphates, Organonitrogens & Carbamates), Food Tested, and Region - Global Forecast to 2022
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