Increase in instances of foodborne illness due to mycotoxin contamination to drive the growth of global mycotoxin testing market
According to TechSci Research report, “Global Mycotoxin Testing Market By Type (Aflatoxins, Ochratoxin, Fumonisins, Zearalenone, deoxynivalenol, Trichothecenes, Patulin, Others), By Sample (Feed & Food), By Technology (Chromatography- & Spectroscopy-Based Vs Immunoassay-Based), By Region, Forecast & Opportunities, 2025”, global mycotoxin testing market is expected to witness robust CAGR during the forecast period. Increasing population across the globe is leading to growing demand for food, which in turn makes it obligatory to emphasize more on mycotoxin testing, thereby accounting for the growth of global mycotoxin testing market. Moreover, growing health consciousness among consumers is further expected to bode well for the growth of global mycotoxin testing market through 2025. In addition to this, changing atmospheric conditions is leading to the production of mycotoxin in food products such as cereals, dried fruits, bread and cookies, herbs and species, milk and dairy products, beverages such as beer and wine, among others, which in turn is expected to positively influence the growth of global mycotoxin testing market in the years to come. Also, governments all around the globe are taking initiates to resolve the issues which are being caused by mycotoxins such as introduction of stringent regulations for the players in the food and beverage industry to follow, which is making headway for the growth of global mycotoxin testing market across the globe. Along with this, increased international trade mandates as well as food recalls is positively contributing to the market growth. Furthermore, continuous development of advanced technologies to rapidly and effectively test the presence of mycotoxins is anticipated to fuel the market through 2025. However, there are some factors that can act as major impediments to the growth of global mycotoxin testing market through 2025 such as lack of food control systems, infrastructure, technology in the emerging economies, etc.
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Global mycotoxin testing market can be segmented based on type, sample, technology, company and region. Considering the sample, the market is fragmented into feed & food. The food segment dominated the global mycotoxin testing market in terms of largest market share until 2019 and is further anticipated to maintain its dominance during the forecast period as well, which can be accredited to the fact that food samples are tested more often for the presence of mycotoxins when compared to feed samples. Moreover, mycotoxins in food can have toxic effects on the host such as immunosuppression, birth defects, irritable skin, and neurotoxicity, which makes its testing necessary, thereby spurring the growth of this segment. In terms of technology, the market is fragmented into chromatography- & spectroscopy-based and immunoassay-based. Out of which, the chromatography & spectroscopy-based segment is anticipated to grow at the highest rate during the forecast period. This high growth is due to introduction of faster liquid chromatograph technologies for high-performance liquid chromatography.
SGS, Bureau Veritas, Intertek, Eurofins, Als Limited, Neogen, Asurequality, Microbac, Romer Labs, Symbio Laboratories are among others are the leading players operating in global mycotoxin testing market. The players are adopting several growth strategies to enhance the market scenario of mycotoxin testing. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diverse their product portfolio in order to strengthen their market position.
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“Europe is forecast to dominate the global mycotoxin testing market during the next five years on account of a reflection of food safety policies in this region by NATIONAL REFERENCE LABORATORIES (NRLs), Control Laboratories (CLs), European Food Safety Authority (EFSA), and EU Reference Laboratories (EURLs). Furthermore, growing food and feed mycotoxin testing is further anticipated to bolster the market growth until 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Mycotoxin Testing Market By Type (Aflatoxins, Ochratoxin, Fumonisins, Zearalenone, deoxynivalenol, Trichothecenes, Patulin, Others), By Sample (Feed & Food), By Technology (Chromatography- & Spectroscopy-Based Vs Immunoassay-Based), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global mycotoxin testing market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global mycotoxin testing market.