Dublin, June 19, 2024 (GLOBE NEWSWIRE) -- The "Global Mycotoxin Testing Market Report by Type (Aflatoxins, Ochratoxin, Fumonisins, Zearalenone, Deoxynivalenol, Trichothecenes, Patulin), Technology (Chromatography- & Spectroscopy-based, Immunoassay-based), Sample, & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global mycotoxin testing market is estimated at USD 1.6 billion in 2024 and is projected to reach USD 2.3 billion by 2029, at a CAGR of 6.7%
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall mycotoxin testing market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
Testing ensures that food and feed products are safe for consumption, protecting public health and animal welfare. International trade of food and feed products requires compliance with stringent food safety standards and regulations. Mycotoxin testing ensures that products meet the quality and safety requirements of importing countries, facilitating trade and maintaining market access. Non-compliance with mycotoxin regulations can lead to trade barriers and restrictions, hindering exports and economic growth.
The mycotoxin testing market is diversified and competitive, with a large number of players. The key players in this market include SGS (Switzerland), Bureau Veritas (France), Eurofins (Luxembourg), Intertek (UK), Merieux NutriSciences (US), ALS Limited (Australia), Neogen (US), Romer Labs (US), Symbio Laboratories (Australia), OMIC USA (US), AsureQuality (New Zealand), and Microbac (US).
Stringent regulations regarding mycotoxins to drive the mycotoxin testing globally
Regulatory agencies worldwide impose maximum limits on mycotoxin levels in food and feed products to ensure consumer safety. Compliance with these regulations is mandatory for manufacturers, importers, and exporters, necessitating comprehensive testing programs to detect and quantify mycotoxin contamination accurately.
Failure to comply with regulatory standards can result in severe penalties, including product recalls, fines, and legal action, incentivizing stakeholders to invest in robust testing protocols. Furthermore, stringent regulations increase consumer confidence in the safety and quality of food products, driving demand for certified mycotoxin-free products.
In 2023, cereals, grains, and pulses stood as the major segment within the food segment of the mycotoxin testing market.
Cereals, grains, and pulses are particularly susceptible to mycotoxin contamination during various stages of production, including cultivation, harvest, storage, and transportation. This widespread occurrence necessitates regular testing to identify and mitigate contamination risks. Growing consumer awareness of food safety issues has led to increased demand for safe and high-quality food products, further driving the need for mycotoxin testing in cereals, grains, and pulses to meet consumer expectations and maintain brand reputation.
Within the type segment, aflatoxins type will grow at the highest rate.
The aflatoxins pose significant health risks to humans and animals, including liver damage, immune suppression, and an increased risk of liver cancer. As a result, there is a heightened awareness of aflatoxin contamination and a greater emphasis on testing to ensure food and feed safety. According to data from the RASFF (Rapid Alert System for Food and Feed) database in 2020, the majority of aflatoxin contamination incidents were documented in peanuts, rice, various nuts (including pistachios, hazelnuts, and almonds), spices, and dried figs. These incidents indicated aflatoxin levels of up to 1000 ?g/kg.
Based on the Cargill Mycotoxin Survey of 2023, India is classified as a high-risk zone due to the fact that 50 - 74% of the analyzed samples exceeded the performance risk level for mycotoxin contamination. Aflatoxin emerges as the predominant mycotoxin, followed by Fumonisin, Zearalenone, and T2. These mycotoxins pose significant threats to the poultry industry as they have the potential to diminish performance and elevate disease incidence among poultry populations.
Additionally, technological advancements in testing methodologies, such as chromatography, immunoassays, and molecular methods, have improved the efficiency, accuracy, and sensitivity of aflatoxin testing, further fueling market growth.
The mycotoxin testing market in North America is anticipated to maintain consistent growth throughout the forecast period.
Increasing awareness of food safety among consumers and regulatory bodies has led to the implementation of stringent regulations governing mycotoxin levels in food and feed products. Compliance with these regulations requires thorough testing, driving demand for mycotoxin testing services and technologies. Fumonisins (FUM) and deoxynivalenol (DON) are the most common mycotoxins present in North America. The US and Canada have been imposing regulations and implementing reliable technologies for mycotoxin tests.
Reasons to buy this report:
- Analysis of key drivers (implementation of stringent regulations related to mycotoxin detection, growth in consumer awareness, and climatic variations leading to increase in mycotoxin contamination) restraints (lack of food control systems, technology, infrastructure, and resources in developing countries and high capital investment). Opportunities (expansion opportunities in emerging markets for mycotoxin testing, launch of advanced technologies for detecting mycotoxins, increase in demand for cereal products and oats to offer high growth opportunities for mycotoxin testing and emerging mycotoxins) and challenges (inappropriate sample collection & standardization and masked mycotoxins remain undetected).
- Product Development/Innovation: Detailed insights on research & development activities and new product launches in the mycotoxin testing market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the mycotoxin testing market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the mycotoxin testing market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like SGS Societe Generale de Surveillance SA (Switzerland), Bureau Veritas (France), Intertek Group plc (UK), DSM-Firmenich (Netherlands), Eurofins Scientific (Luxembourg), ALS (Australia), Neogen Corporation (US), AsureQuality (New Zealand), Symbio Labs (Australia), Microbac Laboratories, Inc. (US), INSTITUT MERIEUX (France), Premier Analytics Services (UK), Charm Sciences (US), OMIC USA INC. (US), and Bio-Check (UK) Ltd. (UK) in the mycotoxin testing market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 327 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $1.6 Billion |
| Forecasted Market Value (USD) by 2029 | $2.3 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
Companies Featured
- SGS Societe Generale de Surveillance SA
- Bureau Veritas
- Intertek Group plc
- DSM-Firmenich
- Eurofins Scientific
- ALS
- Neogen Corporation
- AsureQuality
- Symbio Labs
- Microbac Laboratories, Inc.
- Institut Merieux
- Premier Analytical Services
- Charm Sciences
- OMIC USA Inc.
- Bio-Check (UK) Ltd.
- Dairyland Laboratories, Inc.
- IEH Laboratories & Consulting Group
- AES Laboratories Pvt. Ltd.
- Trilogy Analytical Laboratory
- ELISA Technologies, Inc.
- TLR International Laboratories
- EnviroLogix
- EMSL Analytical, Inc.
- Prognosis Biotech SA
- ISSPL Lab
- Cultivator Phyto Lab
For more information about this report visit https://www.researchandmarkets.com/r/eykeap
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
