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Mycotoxin Feed Testing Market By Top Keyplayers - Eurofins Scientific, SGS Société Générale de Surveillance SA, Bureau Veritas, Intertek Group plc
Mycotoxin Feed Testing Market || DataM Intelligence
The global mycotoxin feed testing market has witnessed substantial growth, reaching US$ 912.10 million in 2023, and is projected to reach US$ 2,242.25 million by 2031, growing at a CAGR of 11.9% during the forecast period of 2024-2031. This growth is driven by the increasing awareness among livestock producers regarding the detrimental effects of mycotoxins on animal health and productivity, leading to a greater demand for testing services.
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Market Dynamics
Focus on Animal Health and Performance
Mycotoxin contamination poses a significant threat to the safety and quality of animal feed, with factors such as climate change, improper storage conditions, and agricultural practices contributing to its prevalence. As a result, regulatory bodies are implementing stricter guidelines, compelling producers to adhere to rigorous testing protocols to ensure feed safety and maintain overall prodxuctivity in the livestock and poultry industries.
Growing Incidence of Mycotoxin Contamination
Technological advancements have also played a crucial role in driving market growth, enabling more accurate and efficient detection of a wider range of mycotoxins. For instance, in June 2023, EnviroLogix Inc. launched TotalTox Testing Kits, a revolutionary approach to on-site multiple mycotoxin testing, aimed at increasing operational efficiency and assisting grain buyers in managing mycotoxin risk.
Segment Analysis
• By Type of Mycotoxin
o Aflatoxins*
o Ochratoxin
o Fumonisins
o Deoxynivalenol
o Patulin
o Others
• By Technology
o Chromatography Based*
o Immunoassay Bed
o Lateral Flow Assay Based
o Spectroscopy Based
o Others
• By End-User
o Feed Manufactures*
o Regulatory Agencies
o Research Institutions
o Others
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Geographical Penetration
Growing Advanced Animal Feed Industry and Stringent Regulations in North America
North America dominates the market due to the growing advanced animal feed industry and stringent regulations imposed by regulatory bodies such as the Food and Drug Administration (FDA) in the United States.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on the market, with disruptions in supply chains, logistical challenges, and fluctuations in demand affecting the availability and distribution of mycotoxin testing kits and equipment.
Russia-Ukraine War Impact Analysis
The Russia-Ukraine war has also impacted the market, with disruptions in agricultural activities in Ukraine leading to concerns about the quality and safety of grains and feed ingredients produced in the region, increasing the demand for mycotoxin testing services.
Competitive Landscape
Key players in the market include Eurofins Scientific, SGS Société Générale de Surveillance SA, Bureau Veritas, Intertek Group plc, AsureQuality, Dairyland Laboratories Inc., IEH Laboratories and Consulting Group, ENVIROLOGIX INC., Romer Labs Division Holding, and Thermo Fisher Scientific Inc.
Related Reports:
https://www.datamintelligence.com/research-report/feed-mycotoxin-binders-and-modifiers-market
https://www.datamintelligence.com/research-report/animal-feed-testing-market
https://www.datamintelligence.com/research-report/agricultural-machinery-market
Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
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Website: https://www.datamintelligence.com
DataM Intelligence 4Market Research is a market intelligence platform that gives access to syndicated, customized reports and consulting to its clients in one place. As a firm with rich experience in research and consulting across multiple domains, we are a one-stop solution that will cater to the needs of clients in key business areas. DataM Intelligence has an online platform whose industries such as chemicals and materials, agriculture, health care services, animal feed, and food & beverages, among others. Our platform has Insights on markets that uncover the latest market research data that are distinct from the competition. With coverage across 10 major industries in the marketplace research, DataM Intelligence benefits thousands of companies by helping them take their innovations early to the market by providing a complete view of the market with statistical forecasts. Our strategy-centric framework and value-added services will let individuals and corporations ease access and custom personalization to research and markets.
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