CHICAGO, May 24, 2024 /PRNewswire/ -- The Mycotoxin
Testing Market is estimated at USD 1.6
billion in 2024 and is projected to reach USD 2.3 billion by 2029, at a CAGR of 6.7% from
2024 to 2029 according to a report published by
MarketsandMarkets™. The expansion of the agricultural sector,
coupled with growing international trade in food and agricultural
products, has increased the need for mycotoxin testing to comply
with export regulations and maintain market access. The
increasing awareness of food safety among consumers and regulatory
bodies worldwide has prompted stringent regulations governing
mycotoxin levels in food and feed products. Compliance with these
regulations necessitates comprehensive testing protocols, thereby
driving market demand.
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By technology, chromatography- & spectroscopy-based
technology is growing at the highest rate in the mycotoxin testing
market.
Chromatography and spectroscopy-based technologies are pivotal
in mycotoxin testing due to their multifaceted advantages. These
techniques offer unparalleled sensitivity and selectivity, enabling
precise detection of mycotoxins even at minute concentrations
within complex food and feed matrices. Their ability to
simultaneously analyze multiple mycotoxins in a single sample
ensures comprehensive risk assessment and regulatory compliance.
Furthermore, these methods facilitate quantitative analysis,
providing accurate measurements crucial for ensuring product
safety. The rapid analysis capabilities of chromatography and
spectroscopy, coupled with automation and integration with sample
preparation processes, streamline testing workflows and enhance
laboratory efficiency.
In the type segment, Ochratoxin constitutes a significant
share in the mycotoxin testing market.
Ochratoxin plays a pivotal role in propelling the mycotoxin
testing market due to several influential factors. Primarily,
ochratoxin poses substantial health risks to both humans and
animals, being identified as a potent nephrotoxin and carcinogen.
This heightened awareness of ochratoxin's adverse health effects
underscores the necessity for thorough testing to ensure its
absence or minimal presence in food and feed products. Moreover,
ochratoxin contamination is prevalent in a wide array of
agricultural commodities, ranging from cereals to coffee, wine, and
dried fruits, necessitating regular testing to mitigate risks.
Stricter regulatory standards, established globally to protect
public health, further drive the demand for ochratoxin testing, as
compliance is essential for market access and trade.
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The European region constitutes the largest share of
mycotoxin testing market in terms of value.
Europe boasts stringent
regulatory standards and regulations regarding food safety,
necessitating rigorous testing for mycotoxin contamination to
ensure compliance. The European Union, in particular, has
established maximum limits for various mycotoxins in food and feed
products, compelling manufacturers and producers to adhere to
strict testing protocols. Additionally, Europe has a robust food and agriculture
industry, with a diverse range of products exported globally. This
necessitates comprehensive testing to meet international standards
and ensure the quality and safety of European food exports. The
presence of key market players, research institutions, and
regulatory bodies further strengthens Europe's position as a leader in mycotoxin
testing.
Key players in this market include SGS Société Générale de
Surveillance SA (Switzerland),
Bureau Veritas (France), Intertek
Group plc (UK), dsm-firmenich (Netherlands), Eurofins Scientific
(Luxembourg), ALS (Australia), Neogen Corporation (US),
AsureQuality (New Zealand), Symbio
Labs (Australia), Microbac
Laboratories, Inc. (US), INSTITUT MERIEUX (France), Premier Analytics Services (UK),
Charm Sciences (US), OMIC USA INC.
(US), and Bio-Check (UK) Ltd. (UK).
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