“The mycotoxin testing market is projected to grow at a CAGR of 6.1%.”
The global mycotoxin testing market is estimated to be valued at USD 858 million in 2018 and is projected to reach USD 1,157 million by 2023, at a CAGR of 6.1%. The market is driven by factors such as growing recalls and border rejections with the growth in international food trade, stringent regulations across various countries, and changing climatic conditions. High costs associated with the installation of technologies inhibit the growth of the mycotoxin testing market.
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“By type, the deoxynivalenol segment is projected to witness the highest growth during the forecast period.”
The deoxynivalenol segment is estimated to grow at the highest CAGR due to the growing prevalence of Fusarium graminearum species of fungi that produces DON toxin. The mild to life-threatening disorders associated with DON, such as metabolic dysfunction, are creating opportunities for the growth of mycotoxin testing market.
“By sample, the cereals, grains, and pulses segment in mycotoxin testing in food is projected to grow at the highest CAGR during the forecast period.”
Based on sample, the mycotoxin testing market is segmented into food and feed. Among food samples tested, cereals, grains, and pulses recorded the highest CAGR, due to a greater level of contamination with various mycotoxins. Cereals, grains, and pulses are more susceptible to the co-occurrence of mycotoxins, thereby leading to an increased demand for testing, as they are used in various products for food processing.
“Asia Pacific is projected to be the fastest-growing region in the mycotoxin testing market, due to an increase in international food trade and rise in consumer awareness for food safety.”
The climatic conditions in the Asia Pacific region range from tropical to semi-tropical and temperate, which are conducive to the growth of mycotoxins. China has developed major concerns of mycotoxin prevalence due to high population, complex topography, and diverse climate zones, which provides optimal conditions for mycotoxin growth from fungi. Moreover, growing international trade from the region is also fueling market growth in order to fulfill the regulatory mandates of the importing country.
The global mycotoxin testing market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, and Rest of the World (RoW).
Break-up of Primaries
- By Company Type: Tier 1 - 41%, Tier 2 - 32%, and Tier 3 - 27%
- By Designation: D-level - 40%, C-level - 32%, and Others* - 28%
- By Region: North America - 32%, Europe - 29%, Asia Pacific - 21%, South America – 12%, and RoW - 6%
*Others include sales managers, marketing managers, and product managers.
Leading players profiled in this report
- SGS (Switzerland)
- Bureau Veritas (France)
- Eurofins (Luxembourg)
- Intertek (UK)
- Mrieux NutriSciences (US)
- ALS Limited (Australia)
- Neogen (US)
- Romer Labs (US)
- Symbio Laboratories (Australia)
- OMIC USA (US)
- AsureQuality (New Zealand)
- Microbac (US)
- This report segments the mycotoxin testing market on the basis of type, sample, technology, and region. In terms of insights, this research report focuses on various levels of analysis competitive landscape, end-use analysis, and company profiles which together comprise and discuss the basic views on the emerging & high-growth segments of the mycotoxin testing market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
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