January 04, 2021
As per the business intelligence report titled ‘Global Mycotoxin Testing Market Size study with COVID-19 impact, by Sample (Food and Feed), by Technology (Chromatography & Spectroscopy and Immunoassay-Based), by Type (Aflatoxins, Ochratoxins, Fumonisins, Deoxynivalenol, Trichothecenes, Zearalenone, Patulin and others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global mycotoxin testing market accounted for USD 910.34 billion in the year 2019 and is projected to record a noteworthy CAGR of 6.1% during 2020-2027.
Research analysts cite that growing population across the globe, escalating demand for food, and increasing adoption of the product across the food & beverage industry for testing the contamination of food items are propelling the growth of global mycotoxin testing market. Citing an instance, as per the Food and Agriculture Organization of the United Nations, around 25% of the food produced across the globe contains mycotoxins and is toxic in nature.
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For the uninitiated, mycotoxins are toxic secondary metabolites that are produced by microorganisms and are capable of causing diseases as well as death in humans and animals. They are poisonous chemical merchandise which are primarily made by fungi.
Increasing international trading activities coupled with favorable government norms and policies germane to mycotoxin testing are further stimulating the overall market outlook. On the contrary, lack of standardized food control systems, outdated technology, and underdeveloped infrastructure are major restraining factors for the global mycotoxin testing industry expansion.
Based on sample, the overall market is split into feed, and food. With regards to technology landscape, the industry is bifurcated into immunoassay-based, and chromatography & spectroscopy. Speaking of type, global mycotoxin testing market is segmented into patulin, zearalenone, trichothecenes, deoxynivalenol, fumonisins, ochratoxins, aflatoxins, and others.
From a regional frame of reference, North America accounts for a majority of the global mycotoxin testing market, on account of stringent government regulations. Alternatively, Asia-Pacific market is estimated to register the highest CAGR during 2020-2027, owing to expanding consumer base, and growing awareness regarding mycotoxin testing.
Companies that boast of an authoritative status in global mycotoxin testing market sphere are Mérieux NutriSciences, Romer Labs Inc., Microbac Laboratories Inc., AsureQuality Limited, Neogen Corporation, ALS Limited, Eurofins, Intertek Group plc, Bureau Veritas, and SGS S.A. among others.