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Mycotoxin Testing Market Expected to Grow at a Higher CAGR of 5.78% by 2024 – ALS Limited, Asurequality Ltd., Bureau Veritas S.A., Eurofins Scientific Se, Intertek Group PLC

The global mycotoxin testing market is expected to grow from USD 1,141.68 million 2017 to USD 1,691.77 million by the end of 2024 at a Compound Annual Growth Rate (CAGR) of 5.78%.

Press Release

The factors attributing to the growth of the market are stringent food safety regulations related to mycotoxin detection, growing interest and awareness of consumers for organic foods, increased trade of cereal, grains, and processed grain products, rising instances of the recalls and border rejections, and advanced technologies for detecting mycotoxins. However, some factors such as lack of awareness of food safety regulations, and high investment cost and time associated with the testing pattern may hinder the market growth.

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The key players profiled in the global mycotoxin testing market are ALS Limited, Asurequality Ltd., Bureau Veritas S.A., Eurofins Scientific Se, Intertek Group PLC, Microbac Laboratories, Inc., Romer Labs Diagnostic GmbH, SGS S.A., Silliker, Inc., and Symbio Laboratories.

The global mycotoxin testing market is expected to showcase the opportunities such as growing opportunities in the emerging economies owing to the food safety concern, launch of economic multi-toxin analysis systems, and increase in demand for mycotoxin testing for cereal and oats. In the near future, the market may face the possible challenges in the growth due to lack of resources, infrastructure, and food control systems in the developing countries, and inappropriate sample collection & standardization. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the global mycotoxin testing market market.“Cereals, Grains & Pulses: The highest growing food & feed tested for the global mycotoxin testing market”

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On the basis of food & feed tested, the global mycotoxin testing market is studied across Cereals & Cereal By-Products, Cereals, Grains & Pulses, Dairy Products, Forage & Silage, Meat & Poultry, Nuts, Seeds & Spices, Oil Meals & Cakes, and Processed Food. Among all these food & feed tested, the Cereals, Grains & Pulses is projected to hold the largest market share while the Processed Food has the potential to grow the market with the highest CAGR in the forecast period.“High Performance Liquid Chromatography: The highest growing technology for the global mycotoxin testing market”

On the basis of technology, the global mycotoxin testing market is studied across High Performance Liquid Chromatography, Immunoassay Based/Elisa, and LC-MS/GC-MS. Among all these technology, the High Performance Liquid Chromatography is projected to hold the largest market share while the Immunoassay Based/Elisa has the potential to grow the market with the highest CAGR in the forecast period.“Aflatoxins: The highest growing type for the global mycotoxin testing market”

On the basis of geography, the global mycotoxin testing market is studied across Americas, (United States, Brazil, Canada, Mexico, and Argentina) Europe, Middle East & Africa, (United Kingdom, Germany, France, Saudi Arabia, United Arab Emirates, Italy, and Russia) and Asia-Pacific (China, Japan, India, and Australia). Among all these geography, the Asia-Pacific is showing the maximum growth in the near future with the highest CAGR while the Europe, Middle East & Africa is dominating the market with highest market size.

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The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on sulfuric acid offered by the key players in the global mycotoxin testing market.
2. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the global mycotoxin testing market.
3. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets for the global mycotoxin testing market.
4. Market Diversification: Provides detailed information about new products launches, untapped geographies, recent developments, and investments in the global mycotoxin testing market.
5. Competitive Assessment & Intelligence: Provides exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global mycotoxin testing market.

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