Latin America Mycotoxin And Food Testing Market Growth Trends By Top Key Players And Forecast 2028

According to Precision Business Insights (PBI) latest report, the latin america mycotoxin and food testing market is expected to be worth USD 146.0 million in 2022, growing at a 11.1% CAGR from 2022 to 2028. Latin America Mycotoxin and Food Testing Market By Type (Aflatoxin, Deoxynivalenol, Ochratoxins, Fumonisins, Trichothecene, Zearalenone, Patulin and Others) By Sample, (Food (Cereals, grains, and pulses, Milk and milk products, Meat, poultry, and seafood, Nuts, seeds, and spices, Fruits and vegetables and Others), Feed (Cereals and cereal by-products, Seeds and seed products, Forage and silage and Others), By Technology, (Chromatography- & spectroscopy-based and Immunoassay-based) and Geography Forecast to 2028.

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Meat and Poultry are Dominate the Mycotoxin and Food Testing Market:
Meat and Poultry accounted for xx% of the market and is expected to grow at a CAGR of 61.2% between 2022 and 2028. The demand for protein requirement and poultry represents more than 50% of consumers for animal protein consumption in Mexico. Consumers continue to view poultry as a healthy source of protein, results in increasing demand for meat and poultry segment in the region.

Brazil Leads Mycotoxin and Food Testing Market:
Brazil holds a market share of 36.2% in the mycotoxin and food testing market in the forecast period, and it is projected to grow at a CAGR of 10.3% in the coming years. The rising demand for healthy food products continues to grow with increasing health awareness and disposable incomes, mainly dairy products, cereals, and fruits, which has led to increasing demand for food testing in the region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Latin America Mycotoxin and Food Testing market further reveals that the key players increasingly adopting strategies such as the launch of newer products, frequent product approvals, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. For instance, In July 2021, Intertek Group, the quality assurance giant, announced that it had acquired food-testing business JLA Brazil. The acquisition of JLA expands Intertek's existing food and Agri assurance capabilities, taking into the attractive food-testing market in Brazil.

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Key player profiles in the report are SGS SA, Eurofins Scientific SE, Intertek Group plc., ALS Limited, AssureQuality Ltd, Genetic ID NA Inc, Microbac Laboratories Inc., Laboratory Cooperation of America Holdings, TUV Nord group, and TUV SUD.

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