The Mycotoxin Testing Market is Expected to Register a CAGR of XX % During the Forecast Period, Due to Stringent Food Safety Regulations

The Mycotoxin Testing Market is Expected to Register a CAGR of XX % During the Forecast Period, Due to Stringent Food Safety Regulations

“The Mycotoxin Testing Market is anticipated to reach about US$ XX Bn by 2025, and anticipated to expand at a CAGR over seven years of forecast period 2019-2025” owing to the adoption of stringent food policies by several countries.

Precision Business Insights (PBI) in its report titled “Mycotoxin Testing Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

The mycotoxin testing market size was accounted for US$ XX Bn in 2018 and anticipated to account for US$ XX Bn by 2025. The major factor that is driving the mycotoxin market is the stringent food safety regulations that have been implemented by several countries. The increase in the production of the mycotoxins in the food and feed products is due to the humid atmospheric conditions. The other factors that contribute to the growth of the market are consumer complaints, incremented international trade, and growing health concern among consumers. However, lack of awareness about the food and feed regulations among the producers, high cost of testing, poor infrastructure facilities, and lack of skilled professionals for advanced technologies are restraining the growth of global mycotoxin testing market.

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Mycotoxin testing market segmented on the basis of mycotoxin type, technology, application, and end user.

Fusarium Toxin Segment Expected to Dominate the Market

The Fusarium toxin segment is projected to grow at the highest CAGR during the forecast period, due to the large number of Fusarium toxin prevalence and presence in various food & feed products. The increase in food trade and contamination in grain due to changing climatic conditions is also a significant driver. The exposure to these mycotoxins has caused concerns among consumers of possible health consequences, which in turn has increased the demand for Fusarium toxin testing. This is followed by the aflatoxin segment, which is projected to remain the second-largest market through 2022.

HPLC Technology Will Dominate the Global Market.

By Application, chromatography segment dominated the global market. In addition, the high performance liquid chromatography (HPLC) based technology is one of the most commonly used and fast liquid chromatography in mycotoxin testing. The HPLC technology is found to be the most common and economic technology to detect and quantify mycotoxins in food & feed products. High-pressure (or high-performance) liquid chromatography is one of the most powerful tools in analytical testing of foods. It has the ability to separate, identify, and quantitate compounds present in any sample that can be dissolved in a liquid.

Europe, Accounts for Major Revenue Share for Mycotoxin Testing Market

Precision Business Insights (PBI) mycotoxin testing market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, Governing organizations present in the European market have enforced various mycotoxin testing policies. The U.K. is projected to be fastest growing country in the European region. In this region, food safety policies have been emphasized by efforts from Control Laboratories (CLs), National Reference Laboratories (NRLs), Euroepan Food Safety Authority (EFSA), and EU Reference Laboratories (EURLs). The EU legislation protects consumers by setting maximum levels for mycotoxins in food and feed to ensure they are not harmful to human or animal health, keeping mycotoxin levels as low as reasonably achievable following recommended good agricultural, storage, and processing practices. The Asia-Pacific market for mycotoxin testing is projected to grow at the highest rate. Growth in this region is driven by various regulations imposed by the FDA & different importing countries. Food security standards are becoming increasingly stringent to ensure a safer supply of food to individuals.

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Stringent Food Regulation Play Vital Role in Mycotoxin Testing Market

Food security standards are becoming increasingly stringent to ensure a safer supply of food to individuals. Governments in different countries have implemented various regulations for consumers, producers, and regulators. For instance, in January 2016, Intertek acquired the Italian company Food International Trust (FIT-Italia), which provided a wide range of assurance, testing, and certification services.
Key player’s profiles in the report areEurofins Scientific (Luxembourg), Intertek Group Plc (U.K.), Romer Labs Diagnostic GmbH (Austria), Bureau Veritas SA (France), SGS S.A. (Switzerland), Silliker Inc (U.S.), Microbac Laboratories Inc (U.S.), ALS Limited (Australia), AsureQuality Ltd (New Zealand), Symbio Laboratories (Australia) among others.

Detailed Segmentation

By Mycotoxin Type

o Ochratoxins
o Fusarium Toxins
o Aflatoxins
o Patulin
o Others

By Technology Type

o Chromatography Techniques
o Mass Spectroscopy techniques
o Enzyme Linked Immunosorbent Assay (ELISA)
o Others

By Application Type

o Food Products
o Cereals and Pulses
o Poultry and Meat
o Fruits and Vegetables
o Nuts and Seeds
o Others
o Feed Products
o Forage and Silage
o Feed concentrates
o Oil Meals and Cakes
o Others Feed Ingredients
o Others

By End-User Type

o Food and Feed Testing Industries
o Research Institutes

Geography

o North America
 U.S.
 Canada
o Europe
 Germany
 UK
 France
 Russia
 Spain
 Italy
 Rest of Europe
o Asia-Pacific
 China
 Japan
 India
 ASEAN
 Rest of Asia Pacific
o Latin America
 Brazil
 Mexico
 Argentina
 Chile
 Rest of Latin America
o Middle East and Africa
 South Africa
 Saudi Arabia
 Rest of MEA

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Precision Business Insights,

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152 – 160 City Road,
London EC1V 2NX

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