Market Dynamics:
The Mycotoxin Testing Market was valued at USD 826.8 Million in 2019 and it is projected to reach USD 1,551.0 Million by 2028 with a CAGR of 7.2% during the forecast period, 2017-2028.
According to the Food and Agriculture Organization (Italy), approximately 25% of the food produced globally contains harmful chemicals that are toxic in nature and are called mycotoxins. These can seriously harm humans and animals by treating infections. Hence there is an extensive need for mycotoxin testing, which will propel the demand of mycotoxin testing market.
Mycotoxin Testing Market Statistics (2017-2028)
Mycotoxins are nothing but toxic metabolites that are produced by fungi, found in food & feed products and they are invisible and tasteless. The heavy production of mycotoxin is observed in food products such as grains, cereals, nuts, spices, oilseeds, oils & starches, bread & cookies, milk & dairy products, dried fruit, and coffee. All these are daily needed products and are commonly contaminated by mycotoxins. The prevalence of mycotoxin leads to the necessity to test the mycotoxins in these foods, to ensure the safety of food products. All these factors will reflect on the significant growth of the mycotoxin testing market.
Mycotoxins are chemically stable at both high and low temperatures and temperature treatments such as cooking and freezing do not destroy all mycotoxins which are present in food products.
Globally, in most countries, there are requirements for mycotoxin testing since it is one of the major public health issues. Some of the mycotoxins are highly toxic and can cause cancer. They also weaken the immune systems of our body and cause allergies. Hence consumer awareness about the presence of mycotoxins is increasing for the last few years which are further propelling the demand for mycotoxin testing. However, the high cost of equipment and capabilities to provide better testing service may restrain the growth of the mycotoxin market.
Some of the key Impact Factors:
- Lack of food control systems, infrastructure, and technology is boosting the mycotoxin testing market in the developing countries
- Lack of food safety and resources
- Increase in the consumption of fast food
- The rise in population can enhance the market growth
Mycotoxin Testing By Market Segmentation (2017-2028)
The mycotoxin testing market is primarily segmented based on type (aflatoxins, fumonisins, ochratoxin, zearalenone, trichothecenes, deoxynivalenol, patulin, others), by technology (Chromatography & Spectroscopy-Based, High-Performance Liquid Chromatography (HPLC), Liquid Chromatography, Gas Chromatography, Coupled Chromatography, Tandem Chromatography, Immunoassay-Based), by sample (feed, food) and based on geographic region.
Type Outlook
Based on types the mycotoxin testing market is segmented by various types such as aflatoxins, fumonisins, ochratoxin, zearalenone, trichothecenes, deoxynivalenol, patulin, and others. The aflatoxins segment is accounted for the largest market size globally as compared to others because of its extensive prevalence in the agricultural products. The aflatoxins are present in products such as corn, peanuts, groundnuts, cotton seeds, and tree nuts which are highly consumed by humans daily and this will propel the demand for mycotoxin testing market.
Fumonisins are found world-wide as a contaminant of maize (corn), which has a detrimental impact on animals. For example, it causes liver cancer in rats, pulmonary edema in pigs and leukoencephalomalacia in horses. Hence major market players are investing in R & D activities of mycotoxin testing technologies to find out the exact solution over these harmful mycotoxins.
In the case of ochratoxin, the fungal species which produces ochratoxin is frequently found in human food and animal feed like cereal products. In humans, ochratoxin causes Balken endemic nephropathy (BEN), a chronic kidney disease associated with tumors of the renal system and others that are affecting the human body system. All these factors will drive the mycotoxin testing market in the coming years.
Technology Outlook
Based on technology, the mycotoxin testing market has been segmented into Chromatography- & Spectroscopy-Based and Immunoassay-Based.
The chromatography- & spectroscopy-based technology is projected to experience faster growth during the forecast period because of the introduction of faster liquid chromatography (LC) technologies for high-performance of liquid chromatography (LC). Similarly, immunoassay-based technology is highly selective bio analytical technology that measures the presence of analytes ranging from small molecules to macromolecules in a solution through the use of an antibody or bio recognition agent.
Sample Outlook
Based on the sample, the mycotoxin testing market has been segmented into the Feed and Food. By the sample, the food segment is projected to account for larger market share during the forecast period with higher CAGR; because of the presence of mycotoxin in food has detrimental effects on humans as well as on animals.
Mycotoxin Testing Market By Regional Analysis (2017-2028)
Regional Outlook:
Based on the region, the mycotoxin testing market has been segmented into North America, Eastern Europe, Western Europe, Asia Pacific, Middle East, and Rest of the World. Europe is expected to hold the largest market share in mycotoxin testing market during the forecast period. The FDA and EU have stringent regulations for food & beverage industry to provide safe food and to avoid the production of mytoxins through their food products.
This report analyzes the factors which are affecting the mycotoxin testing market across the regions, drivers, restraints, challenges, opportunities, supply & demand analysis along with market trend and forecast.
Competitive Landscape
Companies are continuously investing in R&D activities of mycotoxin testing technologies and equipment. Some other key players profiled in the report are SGS S.A, Bureau Veritas, Eurofins, Intertek, Mérieux NutriSciences, ALS Limited, Neogen, Romer Labs, Symbio Laboratories, OMIC USA, AsureQuality, Microbac, among others.
Key developments:
- January 2019, Bureau Veritas and AsureQuality announced that they had collaborated to form a new food testing company that is based out of Singapore and that will provide the finest food and water testing capabilities and equipment services to the Asia region.
- November 2017, Eurofins Scientific announced that they had acquired Spectro Analytical Labs Ltd. By this acquisition, Eurofins will be able to provide their expertise in testing & analysis to India and the neighboring regions.
Mycotoxin Testing Market Timeline (2017-2028)
What This Study Provides:
- Global market and submarket forecast covering the period of 2017 to 2028, with accompanying analysis
- Regional market and submarket forecast covering the period of 2017 to 2028, with accompanying analysis
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- Competitive landscape involving the mycotoxin testing market share of major players, along with the new projects and strategies adopted by players in the past five years
- SWOT analysis of the market, together with the opportunities available and the key threats faced
- Comprehensive company profiles covering the product offerings, key financial information, recent developments and strategies employed by the major market players
- The Global mycotoxin testing Market conclusions & recommendations
Market Segmentation:
By Type:
- Aflatoxins
- Fumonisins
- Ochratoxin
- Zearalenone
- Trichothecenes
- Deoxynivalenol
- Patulin
- Others
By Technology:
- Chromatography- & Spectroscopy-Based
- High-Performance Liquid Chromatography (HPLC)
- Liquid Chromatography
- Gas Chromatography
- Coupled Chromatography
- Tandem Chromatography
- Immunoassay-Based
By Sample:
- Feed
- Cereals & Cereal by-products
- Forage & Silage
- Seeds & Seed Products
- Others
- Food
- Fruits & Vegetables
- Milk & Milk Products
- Meat, Poultry & Seafood
- Cereals, Grains & Pulses
- Nuts, Seeds & Spices
- Others
By Region:
North America
- By Country (US, Canada, Mexico)
- By Type
- By Grades
- By Application
Western Europe
- By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
- By Type
- By Grades
- By Application
Eastern Europe
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Type
- By Grades
- By Application
Asia Pacific
- By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
- By Type
- By Grades
- By Application
Middle East
- By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
- By Type
- By Grades
- By Application
Rest of the World
- By Region (South America, Africa)
- By Type
- By Grades
- By Application
Key Questions Answered By This Report:
- How is the mycotoxin testing market evolving?
- What is driving and restraining mycotoxin testing market dynamics?
- How will regulatory factors influence regional mycotoxin testing markets and submarkets?
- How will mycotoxin testing market segment grow over the forecast period and how much sales will this market account for in 2028?
- How will the sector evolve as alliances form during the period between 2019 and 2028?
- How will market shares of the national markets change by 2028 and which nation will lead the market in 2028?
Reasons to buy this report:
- Market size estimation of mycotoxin testing market on a regional and global basis
- The unique research design for market size estimation and forecasts
- Profiling of the major companies operating in the mycotoxin testing market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the mycotoxin testing market
Customization:
We provide customization of the study to meet the specific requirements:
- By segment
- By sub-segment
- By region/ country
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