Global Mycotoxin Testing Market – Analysis and Demand with Forecast Overview to 2029

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Published Date: August 2023

The global mycotoxin testing market size is estimated to account for USD 950 million in 2020 and is expected to register a CAGR of 7.8%.

The report "Global Mycotoxin Testing Market, By Type (Aflatoxins, Ochratoxin, Fumonisins, Zearalenone, deoxynivalenol, Trichothecenes, and Patulin), By Technology (Chromatography- & Spectroscopy-Based, and Immunoassay-Based), By Sample (Feed and Food), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.

Key Highlights:

In October 2019, SGS announced the expansion of its new food microbiological testing lab in Fairfield, New Jersey, US. The 2,000 sq. ft. microbiological testing facility utilizes a information technology platform to offer food producers, manufacturers and suppliers with a broad spectrum of testing services across every food category.
In March 2019, SGS announced the expansion of its new food microbiological testing lab in Carson, California, US. The microbiological testing facility is of 2,400 sq. ft. This expansion is aimed at expanding geographical coverage and its global network of agriculture and food labs.

Analyst View:

Implementation of stringent regulations related to mycotoxin detection

Various government and regulatory bodies across the world have made testing of animal feed and food ingredients mandatory. The regulatory authorities do not approve animal feed for marketing, unless its safety and efficacy are proven. Such measures to prevent potential threats of contamination, chemicals, and toxic presence have been affecting the growth of the mycotoxin testing market greatly. Apart from growing need for food safety, this market is driven by humid atmospheric conditions, which is leading to mycotoxins productions in food products such as cereals, bread and cookies, dried fruits, herbs and species, milk and dairy products, beverages such as beer and wine, and meat and poultry products. Moreover, consumer awareness regarding the presence of mycotoxins has increased multiple folds in the recent past, which is further propelling the demand. Increased international trade mandates, food recalls, and advanced technologies to rapidly and effectively test the presence of mycotoxins are other factors favoring the growth of the market.

Growing mycotoxin industry

In India, the Food Safety and Standards Authority of India (FSSAI) operate to safeguard the quality of food products consumed and exported across the world. The FSSAI regulates, frames, and supervises the supply chain of food safety testing. The export activity from the region is projected to grow after the COVID-19 outbreak to match the disrupted supply chain across the world. Along with the growth in export activities, the market for testing may also grow at a higher pace in order to comply with the regulatory standards of the importing countries.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Mycotoxin Testing Market”, By Type (Aflatoxins, Ochratoxin, Fumonisins, Zearalenone, deoxynivalenol, Trichothecenes, and Patulin), By Technology (Chromatography- & Spectroscopy-Based, and Immunoassay-Based), By Sample (Feed and Food), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Market Insights from the report:

The global mycotoxin testing market size is estimated to account for USD 950 million in 2020 and is expected to register a CAGR of 7.8%. The market report has been segmented on the basis of type, technology, sample and region.

Depending upon type, the alfatoxins hold the largest market share owing to factors such as high prevalence in the agricultural products, which are used for human consumption such as corn, peanuts, groundnuts, cotton seeds, and tree nuts.
Depending upon the technology, the PES segment is projected to register highest share of the market in 2019 owing to
In terms of technology, the chromatography based segment holds the largest market share owing to factors such as introduction of faster liquid chromatography (LC) technologies for high-performance liquid chromatography (HPLC), fast LC systems offer various advantages, such as superior resolution, high sensitivity, and enhanced throughput to research laboratories which is more effective tool for immunoassay-based methods.
By sample, the food segment dominates the market leading to the factors that there is a mycotoxin present in large amount for the food industry.
By region, North America market is dominating because of innovative industries and growing research and development activities for providing product types such as devices, reagents & kits and other services along with the promising growth rate in the coming years. Germany is dominating the market and leading the growth in the Europe market due to growing use of reagents & kits. China in the Asia-Pacific region is expected to dominate the market due to rise in technology and innovation in food testing and growing consumption of it in the region along with rising lifestyle of the region.

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https://www.prophecymarketinsights.com/market_insight/Global-Mycotoxin-Testing-Market-4480

Competitive Landscape:

The prominent player operating in the global mycotoxin testing market includes SGS, Bureau Veritas, Eurofins, Intertek, Mérieux NutriSciences, ALS Limited, and Neogen.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period