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Mycotoxin Feed Testing Market Outlook 2023-2032: Growth Analysis, Size, Industry Share And Forecast | ALS Limited, AsureQuality Limited, Bureau Veritas, Eurofins Scientific SE, Intertek Group plc
Mycotoxin Feed Testing Market
The Business Research Company's Mycotoxin Feed Testing Global Market Report 2023 identifies increase in incidences of food born illness as the major driver for the Mycotoxin Feed Testing market's growth in the forecast period. Food-born illness refers to disease or sickness that is caused by the consumption of foods or beverages that are contaminated with pathogens or microorganisms. Food-born illnesses are increasing due to the increasing use of commercial food services, new methods of producing and distributing food, new or re-emerging infectious foodborne agents, changes in diet, and others. Mycotoxin feed testing will reduce the chances of ingesting contaminated food and hence, reduce food-borne illnesses. For instance, in May 2022, according to the report published by the World Health Organization (WHO), a Switzerland-based government agency responsible for international public health, 600 million individuals or around one in ten people around the globe become are suffering from food-born illness and 0.42 million people die every year. Therefore, the increase in incidences of food born illness is driving the growth of the mycotoxins feed testing market.
The global mycotoxin feed testing market size is expected to grow from $1.28 billion in 2022 to $1.37 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global mycotoxin feed testing market size is expected to reach $1.80 billion in 2027 at a CAGR of 7.2%.
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Major competitors in the Mycotoxin Feed Testing market are ALS Limited, AsureQuality Limited, Bureau Veritas, Eurofins Scientific SE, Intertek Group plc.
A key trend in the Mycotoxin Feed Testing market includes technological advancement. Mycotoxin feed testing refers to the process of analyzing animal feed samples for the presence and quantity of mycotoxins, they are naturally occurring toxic substances produced by fungi that can contaminate animal feed and cause health problems in livestock. The mycotoxin feed testing kits enable users to gain more assurance and check the quality of food or feed as well as protect them from illnesses. For instance, in September 2022, Ring Biotechnology Co Ltd., a China-based biotechnology company specializing in rapid food safety testing and animal disease diagnosis, launched the new iQuanti mycotoxins quantitative rapid test kit, it is a lateral flow immunoassays-based test kit used for the detection of the five major mycotoxins in cereal such as aflatoxin B1, zearalenone, fumonisin, T2-toxin, ochratoxin and vomitoxin. It can identify the main mycotoxins in 10 minutes following a simple specimen extraction.
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The Mycotoxin Feed Testing market is segmented -
1. By Type: Aflatoxins, Alternaria, Cyclopiazonic Acid, Citrinin, Fusarium Toxins, Ergot Alkaloids, Patulin, Ochratoxins, Sterigmatocystin, Other Types
2. By Sample: Cereals, Seeds And Seed Products, Forage And Silage, Other Samples
3. By Technology: Chromatography Based, Immunoassay-Based, Lateral Flow Assay Based, Spectroscopy Based, Other Technologies
4. By End-User: Food And Beverages, Animal Feed, Pharmaceuticals
5. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Mycotoxin Feed Testing market.
The Business Research Company's "Global Mycotoxin Feed Testing Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Mycotoxin Feed Testing Market Include:
1. Executive Summary
2. Mycotoxin Feed Testing Market Characteristics
3. Mycotoxin Feed Testing Market Trends And Strategies
4. Mycotoxin Feed Testing Market - Macro Economic Scenario
5. Mycotoxin Feed Testing Market Size And Growth
……
26. Africa Mycotoxin Feed Testing Market
27. Mycotoxin Feed Testing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Mycotoxin Feed Testing Market
29. Mycotoxin Feed Testing Market Future Outlook and Potential Analysis
30. Appendix
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