DUBLIN--(BUSINESS WIRE)--The "Mycotoxin Testing Market by Type (Aflatoxins, Ochratoxin, Fumonisins, Zearalenone, deoxynivalenol, Trichothecenes, Patulin), Technology (Chromatography- & Spectroscopy-Based, Immunoassay-Based), Sample (Feed & Food), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global mycotoxin testing market is projected to grow at a CAGR of 7.1% to reach USD 1,337.2 million by 2025.
COVID-19 has led to a drastic shift in consumer demand away from restaurants, foodservice and other types of "food away from home" towards food consumed at home, requiring important changes in the way food supply chains operate. As the COVID-19 pandemic gathered pace, sales of "food away from home" (consumed in hotels, restaurants, catering and cafes) collapsed.
COVID-19 has led to disruptions in food processing industries, which have been affected by rules on social distancing, by labour shortages due to movement restrictions, and by lockdown measures to contain the spread of the virus. and the other measures taken by the regional governments, thereby limiting the number of people who can work together in small areas. Thus, the decline in 2020 in the mycotoxin testing market growth is mainly due to the impact of COVID-19 pandemic. However, as these restrictions relax, and as certification requirements on products gain more attention via consumers, the market for mycotoxin testing would witness a significant growth in the next five years.
Cereals, grains, and pulses: The largest-growing segment of the mycotoxin testing market, by sample market
Based on sample, the mycotoxin testing market is segmented into food and feed. Among food samples tested, cereals, grains, and pulses recorded the highest CAGR, due to a greater level of contamination with various mycotoxins. Cereals, grains, and pulses are more susceptible to the co-occurrence of mycotoxins, thereby leading to an increased demand for testing, as they are used in various products for food processing.
By type, the aflatoxin segment is projected to witness the highest growth during the forecast period.
The aflatoxin segment is estimated to grow at the highest CAGR due to the growing prevalence of fungi-Aspergillus flavus and Aspergillus parasiticus. There are four major types of aflatoxins, namely, B1, B2, G1, and G2. Of these aflatoxins, aflatoxin B1 is a majorly produced toxin, and therefore it is regulated in the US at 20 ppb in agricultural products, which are used for human consumption. Crops such as maize, peanuts, groundnuts, cotton seeds, and tree nuts are prone to aflatoxin contamination. Exposure to aflatoxins for a prolonged period of time causes birth defects among infants, chronic diarrhea, and immunosuppression. Aflatoxins are potent carcinogens and could lead to cases of liver cancer. These factors have lead to growth in the mycotoxin testing market.
Asia Pacific: The largest-growing segment of the mycotoxin testing market, by mycotoxin testing region
Food security standards are increasingly becoming stringent in the Asia Pacific region to ensure safer supply of food and feed to individuals and livestock inside and outside the region. Governments have introduced various regulations for consumers, producers, and regulators. Japanese companies have been determined to match up to their national standards to international levels to gain a leading market position for food products in the global market. The lack of awareness among companies about food and feed safety standards has hindered the public health, for which the complete knowledge management system has to be specified.
Since the region is among the major growers and exporters of fruits & vegetables, it witnesses increasing concerns about the food safety of agricultural food products. The mycotoxin testing will experience significant growth in the mycotoxin testing market. The pandemic situation caused due to the outbreak of COVID-19 will impact food safety, as the consumers are becoming more aware regarding health issues and the safety of food products. These factors are projected to drive the growth of the mycotoxin testing market.
Market Dynamics
- Implementation of Stringent Regulations Related to Mycotoxin Detection
- Growth in International Trade
- Growth in Consumer Awareness
- Humid Atmospheric Conditions Leading to an Increase in Mycotoxins
- Lack of Food Control Systems, Technology, Infrastructure, and Resources in Developing Countries
- High Capital Investment
- 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
- Emerging Mycotoxins
- Inappropriate Sample Collection & Standardization
Companies Mentioned
- AES Laboratories Pvt. Ltd.
- Agrifood Technology
- ALS Limited
- Asurequality
- Bio-Check (Uk) Ltd.
- Bureau Veritas
- Charm Sciences
- Dairyland Laboratories, Inc.
- Emsl Analytical, Inc.
- Envirologix Inc.
- Eurofins
- IEH Laboratories & Consulting Group
- Intertek
- Krishgen Biosystems
- Microbac Laboratories, Inc.
- Merieux Nutrisciences
- Neogen
- Omic Usa Inc.
- Premier Analytical Services
- Romer Labs
- SGS
- Symbio Laboratories
- TLR International Laboratories
- Trilogy Analytical Laboratories
- Vicam
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