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Mycotoxin Feed Testing Market Growth Statistics, Regional Analysis, Top Players, Size, And Forecast To 2033

11-21-2024 06:38 AM CET | Chemicals & Materials

Press release from: The Business Research Company

Mycotoxin Feed Testing Market Growth

Mycotoxin Feed Testing Market Growth

"The Business Research Company recently released a comprehensive report on the Global Mycotoxin Feed Testing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The mycotoxin feed testing market size has grown strongly in recent years. It will grow from $1.37 billion in 2023 to $1.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to crop and environmental changes, economic factors, consumer confidence, global food safety awareness, industry collaboration..

The mycotoxin feed testing market size is expected to see strong growth in the next few years. It will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to climate change impact, consumer demands, emerging markets, global food safety concerns.. Major trends in the forecast period include stringent regulations, consumer awareness, precision agriculture, advance testing process, advancement in feed solution.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/mycotoxin-feed-testing-global-market-report

Market Drivers and Trends:

The increase in incidences of food born illness is expected to propel the growth of mycotoxin feed testing going forward. 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.

Technological advancements are a key trend gaining popularity in the mycotoxins feed testing market. 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.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

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Major Key Players of the Market:

ALS Limited; AsureQuality Limited; Bureau Veritas SA; Eurofins Scientific SE; Intertek Group plc; Mérieux NutriSciences Corporation; SGS SA; Symbio Laboratories; Bio-Check Ltd.; Charm Sciences Inc.; EMSL Analytical Inc.; IEH Laboratories and Consulting Group LLC; Neogen Corporation; Premier Analytical Services Inc.; Romer Labs Division Holding GmbH; Tuv Sud Gesellschafterausschuss Gbr; Biomin Holding GmbH; CDX Laboratories Inc.; Wettlab GmbH & Co. KG; Laboratoire du Nord; The Zwick Roell Group; Astell Scientific Ltd.; BioAnalytix GmbH; C&K Testing Services Co. Ltd.; Ceva Santé Animale; Chem Service Inc.; ChromaDex Corporation; Control Union Certifications BV; CTI FoodTech Group; Dako A/S

Mycotoxin Feed Testing Market 2024 Key Insights:

• The mycotoxin feed testing market will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• The Surge In Food-Borne Illnesses Fuels Mycotoxin Feed Testing Market Growth
• Embracing Technological Advancements In Safety Assurance
• North America was the largest region in the mycotoxin feed testing market in 2023

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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