Mycotoxin Testing Market is Estimated to Expand at a Healthy CAGR during 2016-2024

Global Mycotoxin Testing Market: Overview

According to the Food and Agriculture Organization of the United Nations (FAO), nearly 25% of food produced in the world contains mycotoxins, which are secondary metabolites of moulds and toxic in nature. There are roughly 400 known species of mycotoxins of different chemical compound classes, out of which 25 are quite common due to their frequency in occurrence. With the rising population across the globe, the demand for food is escalating, which as a result makes it mandatory to emphasize more on mycotoxin testing. Consequently, the global market for mycotoxin testing is estimated to expand at a healthy CAGR during the forecast period of 2016 to 2024.

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This report on global market for mycotoxin testing is a comprehensive inspection of the factors that are expected to influence the demand over the course of next few years. It also notes some of the trends and opportunities that may prove to be a boon for the market in the near future. One of the key feature of the report is the section on company profiles, wherein some of the key vendors have been analyzed for their market share, geographical presence, product portfolio, and recent strategic developments. The global mycotoxin testing market can be segmented on the basis of type into aflatoxins, fusarium toxins, patulin, ochratoxins, and other toxins including alternaria, citrinin, ergot alkaloids, sterigmatocystin, and cyclopiazonic acid, on the basis of technology into high pressure liquid chramoatography (HPLC), LC-MC or GC-MS, and Immunoassay-based or Enzyme-linked immunosorbent assay (ELISA).

Global Mycotoxin Testing Market: Trends and Opportunities

Apart from growing need for food safety, this market is driven by humid atmospheric conditions, which is leading to mycotoxins productions in food products such as cereals, bread and cookies, dried fruits, herbs and species, milk and dairy products, beverages such as beer and wine, and meat and poultry products. Several governments across the globe have taken a note of the issues caused by mycotoxins and have introduced stringent regulations for the players in the food and beverage industry to follow. Moreover, consumer awareness regarding the presence of mycotoxins has increased multiple folds in the recent past, which is further propelling the demand. Increased international trade mandates, food recalls, and advanced technologies to rapidly and effectively test the presence of mycotoxins are other factors favoring the growth of the market. However, the lack of food control systems, infrastructure, and technology in the emerging economies is expected to hinder the growth rate of the global mycotoxins market.

Currently, fusarium toxin segment has the maximum demand, and is expected to remain prominent throughout the forecast period, due to a vast number of fusarium toxin prevalence in several kinds of foods and increasing food trade which requires proper contamination check before being shifted from two locations of different climates. By technology, HPLC remains most common method as it is economical and effective in detecting mycotoxins.

Global Mycotoxin Testing Market: Region-wise Outlook

Geographically, the report studies the opportunities available in the regions of North America, Asia Pacific, Europe, and Rest of the World. Currently, Europe serves the maximum demand, with the U.K. dominating the country-wide market. This is a reflection of food safety policies in this region by National Reference Laboratories (NRLs), Control Laboratories (CLs), Euroepan Food Safety Authority (EFSA), and EU Reference Laboratories (EURLs).

Companies mentioned in the research report

Some of the prominent players in global mycotoxin testing market are Bureau Veritas S.A., ALS Ltd., Asurequality Ltd., Eurofins Scientific SE, Microbac Laboratories, Inc., Intertek Group PLC., Romer Labs Diagnostic GmbH, Silliker, Inc., SGS S.A., and Symbio Laboratories.