The Mycotoxin Feed Testing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Mycotoxin Feed Testing Global Market Report 2024, The mycotoxin feed testing market size has grown strongly in recent years. It will grow from $1.37 billion in 2023 to $1.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to crop and environmental changes, economic factors, consumer confidence, global food safety awareness, industry collaboration..
The mycotoxin feed testing market size is expected to see strong growth in the next few years. It will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to climate change impact, consumer demands, emerging markets, global food safety concerns.. Major trends in the forecast period include stringent regulations, consumer awareness, precision agriculture, advance testing process, advancement in feed solution.
The increase in incidences of food born illness is expected to propel the growth of mycotoxin feed testing going forward. Food-born illness refers to disease or sickness that is caused by the consumption of foods or beverages that are contaminated with pathogens or microorganisms. Food-born illnesses are increasing due to the increasing use of commercial food services, new methods of producing and distributing food, new or re-emerging infectious foodborne agents, changes in diet, and others. Mycotoxin feed testing will reduce the chances of ingesting contaminated food and hence, reduce food-borne illnesses. For instance, in May 2022, according to the report published by the World Health Organization (WHO), a Switzerland-based government agency responsible for international public health, 600 million individuals or around one in ten people around the globe become are suffering from food-born illness and 0.42 million people die every year. Therefore, the increase in incidences of food born illness is driving the growth of the mycotoxins feed testing market.
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The mycotoxin feed testing market covered in this report is segmented –
1) By Type: Aflatoxins, Alternaria, Cyclopiazonic Acid, Citrinin, Fusarium Toxins, Ergot Alkaloids, Patulin, Ochratoxins, Sterigmatocystin, Other Types
2) By Sample: Cereals, Seeds And Seed Products, Forage And Silage, Other Samples
3) By Technology: Chromatography Based, Immunoassay-Based, Lateral Flow Assay Based, Spectroscopy Based, Other Technologies
4) By End-User: Food And Beverages, Animal Feed, Pharmaceuticals
Technological advancements are a key trend gaining popularity in the mycotoxins feed testing market. Mycotoxin feed testing refers to the process of analyzing animal feed samples for the presence and quantity of mycotoxins, they are naturally occurring toxic substances produced by fungi that can contaminate animal feed and cause health problems in livestock. The mycotoxin feed testing kits enable users to gain more assurance and check the quality of food or feed as well as protect them from illnesses. For instance, in September 2022, Ring Biotechnology Co Ltd., a China-based biotechnology company specializing in rapid food safety testing and animal disease diagnosis, launched the new iQuanti mycotoxins quantitative rapid test kit, it is a lateral flow immunoassays-based test kit used for the detection of the five major mycotoxins in cereal such as aflatoxin B1, zearalenone, fumonisin, T2-toxin, ochratoxin and vomitoxin. It can identify the main mycotoxins in 10 minutes following a simple specimen extraction.
The mycotoxin feed testing market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- ALS Limited
- AsureQuality Limited
- Bureau Veritas SA
- Eurofins Scientific SE
- Intertek Group PLC
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