Global Mycotoxin Testing Market Trends, Applications, Analysis, Growth, and Forecast to 2028

Global Mycotoxin Testing Market: Overview

“The global Mycotoxin Testing Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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Mycotoxin testing are used to determine the toxic chemicals produced due to fungus. Mycotoxin can cause diseases in both humans and animals, which can sometimes have led to death. The mycotoxins enter the food chain, usually through cereals and are also found in fruits and nuts. Approximately 400 species of mycotoxins are known, 25 among them are considered relevant owing to their occurrence frequency.

Global Mycotoxin Testing Market: Dynamics

Stringent rules and regulations implemented for detection of mycotoxins is key factor expected to drive growth of the global mycotoxin testing market in the next coming years. Additionally, increasing demand for food owing to rising population globally, and increasing prevalence of Fusarium toxins, are other factors estimated to fuel growth of the mycotoxin testing market. Moreover, growing consumer awareness towards healthy food coupled with increasing demand for oats, wheat, and other cereal products are among some other factors projected to drive revenue growth of the target market to a certain extent in the next coming years.

However, high capital investment is a key factor which may restrain growth of the target market. In addition, lack of food control systems and technologies in emerging countries, are expected to be other factors challenging growth of the target market.

Increasing adoption of mycotoxin testing especially in developing countries and launch of economic analysis systems and advanced technologies for detection of mycotoxin, are anticipated to create lucrative opportunities for the manufactures, and is expected to drive revenue growth of the potential market.

Global Mycotoxin Testing Market: Segment Analysis

Among the type, the aflatoxins segment is estimated to account for highest revenue share contribution in the target market in the next coming years owing to its strong prevalence in cereal products. Among sample, the food segment is projected to witness fastest growth rate in the potential market. Among technology, the chromatography-based & spectroscopy-based segment is anticipated to register for significant growth in terms of revenue in the target market in years to come, owing to its various features such as high sensitivity and superior resolution.

Global Mycotoxin Testing Market: Regional Analysis

Currently, the Europe market is estimated to hold highest share in terms of value and is expected to dominate the mycotoxin testing market. Growing food and feed mycotoxin testing is a major factor anticipated to fuel growth of the mycotoxin testing market in Europe.

The mycotoxin testing market in Asia Pacific is projected to grow at a rapid rate in the next coming years, owing to increasing food demand coupled with growing population in the region. Increasing government rules and regulations for mycotoxin testing of food and feed in developed and developing countries is among some of the major factors expected to support revenue growth of the target market in North America, Europe, and Asia Pacific.

Global Mycotoxin Testing Market Segmentation:

Segmentation on the Basis of Type:

• Aflatoxins
• Ochratoxin
• Fumonisins
• Zearalenone
• Deoxynivalenol
• Trichothecenes
• Patulin
• Others (Cyclopiazonic Acid and Citrinin)

Segmentation on the Basis of Sample:

• Feed
• Food

Segmentation on the Basis of Technology:

• Chromatography-based & Spectroscopy-based
• Immunoassay-Based

Segmentation on the Basis of Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa