Market Size of Mycotoxin Testing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 11.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Mycotoxin Testing Market Analysis
The global mycotoxin testing market is projected to grow at a CAGR of 11.7% during the forecast period.
- The mycotoxin testing ensures that the products are carcinogenic-free, and complies with the International regulation standards. Mycotoxins are toxic chemical compounds produced by a fungus, which can lead to various diseases and even death.
- Cereals and grains are the products that get affected by the fungus, during storage. Therefore, mycotoxin testing becomes necessary for such products, to eliminate the risk of health hazards.
- Fusarium mycotoxins likely to hold a major portion of the global mycotoxin testing market share.
Impact of COVID-19 on the Market:
- The distorting effect of the virus in the region was majorly attributed to bad health profiles and low immunity, majorly contributed by the prevalence of unhealthy eating habits and lack of physical activities practiced by consumers. Europeans are now expected to be extra conscious about their food choices, with more focus toward health-building supplements, functional foods, and juices. This depicts promising applications for food safety testing services in the future.
- Despite no evidences being found on the spread of virus through food and its packaging, food manufacturers in the region are constantly looking for a double check, in terms of providing safe food to consumers.
- Considering the possible contingencies of food manufacturers to offer virus-proof food products to consumers and gain a competitive edge over other market players, the demand for Mycotoxin testing may be moderately uplifted in 2020 and in the following years.
Mycotoxin Testing Industry Segmentation
The global mycotoxin testing market is segmented by technology into HPLC-based, LC-MS/MS-based, Immunoassay-based, and Other Technologies. By pathogen type into Aflatoxins, Ochratoxin A, Patulin, Fusarium Toxins, Other Mycotoxins. By application into beverages and foods. By geography, the scope includes North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
| By Technology | |
| HPLC-based | |
| LC-MS/MS-based | |
| Immunoassay-based | |
| Other Technologies |
| By Pathogen Type | |
| Aflatoxins | |
| Ochratoxin A | |
| Patulin | |
| Fusarium Toxins | |
| Other Mycotoxins |
| By Type | |||||||
| Beverage | |||||||
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| By Geography | |||||||||
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Mycotoxin Testing Market Size Summary
The mycotoxin testing market is experiencing significant growth, driven by the increasing need to ensure product safety and compliance with international regulations. Mycotoxins, toxic compounds produced by fungi, pose serious health risks, making testing essential, particularly for cereals and grains susceptible to contamination during storage. The market is characterized by the dominance of fusarium mycotoxins and the widespread use of advanced testing methods like ELISA, which offers reliable and efficient detection of mycotoxins in food and feed products. The demand for mycotoxin testing is further bolstered by heightened consumer awareness and the need for food safety assurance, especially in the wake of the COVID-19 pandemic, which has led to increased focus on health-conscious food choices in regions like Europe.
The competitive landscape of the global mycotoxin testing market is marked by the presence of major players such as SGS S.A., Bureau Veritas S.A., and Eurofins Scientific, among others. These companies are pivotal in providing testing services that help mitigate the risks associated with mycotoxin contamination, which can lead to severe health issues and economic losses. Aflatoxins, in particular, remain a significant concern due to their prevalence in crops like maize and groundnuts, and their impact on human and livestock health. The market's growth trajectory is supported by the ongoing need for effective testing solutions to address these challenges, ensuring the safety and quality of food products worldwide.
Mycotoxin Testing Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Technology
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2.1.1 HPLC-based
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2.1.2 LC-MS/MS-based
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2.1.3 Immunoassay-based
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2.1.4 Other Technologies
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2.2 By Pathogen Type
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2.2.1 Aflatoxins
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2.2.2 Ochratoxin A
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2.2.3 Patulin
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2.2.4 Fusarium Toxins
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2.2.5 Other Mycotoxins
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2.3 By Type
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2.3.1 Beverage
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2.3.2 Food
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2.3.2.1 Meat and Poultry
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2.3.2.2 Dairy
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2.3.2.3 Fruits and Vegetables
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2.3.2.4 Processed Food
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2.3.2.5 Other Food
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Russia
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2.4.2.6 Spain
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2.4.2.7 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 India
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2.4.3.2 China
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2.4.3.3 Australia
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2.4.3.4 Japan
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle East & Africa
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2.4.5.1 South Africa
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2.4.5.2 Saudi Arabia
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2.4.5.3 Rest of Middle East & Africa
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Mycotoxin Testing Market Size FAQs
What is the current Mycotoxin Testing Market size?
The Mycotoxin Testing Market is projected to register a CAGR of 11.70% during the forecast period (2024-2029)
Who are the key players in Mycotoxin Testing Market?
Eurofins Scientific, Intertek Group plc, SGS SA, Bureau Veritas S.A. and ALS Limited are the major companies operating in the Mycotoxin Testing Market.
