Global Mycotoxin Testing Market To Generate Close To USD 11.12 Billion In Revenue By 2030

According to the report, the global Mycotoxin Testing market size was valued at approximately USD 6.12 billion in 2021 and is predicted to reach around USD 11.12 billion by the end of 2030, expanding at a CAGR of around 7.25% from 2022 to 2030.

Mycotoxin is classified as a secondary metabolite with high toxicity. It is produced by microorganisms originating from the group fungi. Consumption of mycotoxin can result in a fatality or can lead to severe medical concerns amongst animals and humans. Since mycotoxins are aerobic, they can be found anywhere and rely on the organic matter when kept in humid surroundings at appropriate temperatures. If the conditions are suitable, fungi gas grows at an exponential rate and results in colonies that cause an increased level of mycotoxin presence. Although the exact reason for the presence of mycotoxin is still unknown, even after years of research, they are most evidently found in food products.

As the presence of the toxic compound is known to weaken the chemical properties of the host, the presence of mycotoxin in small quantities at the initial stage can lead to more fungal proliferation. However, the growth of mycotoxin is dependent on the extrinsic and intrinsic environment and may also vary greatly in terms of toxic content depending on the hosts’ metabolism, susceptibility, and immunity. Mycotoxin testing is a mandate for every business, irrespective of the size, that is functioning in the food and industry sector, as international and regional regulatory bodies are extremely stringent regarding the food content that is circulating in the economy.

The global mycotoxin testing market is projected to grow owing to the increasing analysis and strict regulations related to the content of animal feed that is present in the local market. In animals, consumption of mycotoxin can lead to various serious medical issues like alimentary toxic aleukia, hemorrhagic syndromes, hepatic diseases, Nephropathy, neurological issues, immunity disorders, and different types of cancer. Hence animal feed providers are required to perform mycotoxin testing to provide complete proof of the exact content present in the animal feed before it is rolled out in the market for purchase. Mycotoxin test providers have launched multiple at-home tests as well as rapid tests that provide instant results. These factors could also help the global market grow further as more people have access to the test to be conducted as per convenience and do not have to depend on external reports.

However, the global market is projected to face challenges due to the high cost associated with mycotoxin testing. Some of the tests can cost over USD 100 per sample and the price only goes up depending on the type of test chosen. This makes the test unaffordable for many small-scale companies which could cause them to select an undesirable route to bring their products into the market for sale purposes. The percentage of accuracy offered by at-home tests could also greatly impact the global market growth because in case the tests are inaccurate, it could result in heavy losses.

The growing consumer awareness is expected to provide growth opportunities while the lack of qualified personnel may challenge revenue growth.

The global mycotoxin testing market is segmented based on technology, type, food type, and region

Based on type, the global market divisions are patulin, fusarium, aflatoxins, ochratoxins, and others. In 2021, the global market may be dominated by the aflatoxins segment as the countries upgrade their systems and infrastructure to control and prevent the exposure of the regional population to carcinogenic substances. Aflatoxin exposure in high amounts is associated with liver cancer and people may be exposed to it through eating contaminated products like peanuts, or by eating infected dairy or meat products. As per official estimates, more than 10,000 women and 24,000 men in the US suffer from liver cancer.

Based on food type, the global market divisions are dairy, meat & poultry, processed food, fruits & vegetables, and others. Although mycotoxin testing is mandatory for all food types including animal fodder, in 2021, the global market was led by the processed food segment owing to the large consumer database. The global processed food market stood at a value of USD 144 billion in 2021. The meat & poultry industry is also projected to grow at a high CAGR, as the consumption of animal-based food increases.

Europe (EU) is projected to lead the global mycotoxin testing market owing to the presence of stringent laws related to animal feed. In 2021, the EU animal feed market generated USD 99 billion in revenue. The European Feed and Food Ingredient Safety Certification Aisbl is responsible for regulating the animal feed market in the territory. Growth in Asia-Pacific is projected to be driven by the growing awareness amongst the end-consumers about food ingredients and the increasing emphasis of regional governments on conducting extensive tests before rolling out the product in the live market. Revenue in North America could witness new heights due to the presence of stringent rules laid down by the US Food and Drugs Administration department related to food safety.

This review is based on a report by Zion Market Research, titled “Mycotoxin Testing Market By Technology (Immunoassay-Based, High-Performance Liquid Chromatography, LC-MS/MS-Based, and Others), By Type (Patulin, Fusarium, Aflatoxins, Ochratoxins, and Others), By Food-Type (Dairy, Meat & Poultry, Processed Food, Fruits & Vegetables, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2030.”- Report at https://www.zionmarketresearch.com/report/mycotoxin-testing-market

Recent Developments:

• In March 2021, PerkinElmer announced the availability of ONE Pesticide420TM CRM Reagent and Consumable Kit for testing hemp and cannabis
• In August 2021, PerkinElmer launched  MaxSignal® Mycotoxin Automation Bundle, which can process up to 180 samples within 90 minutes

The global mycotoxin testing market is led by players like:

• Symbio Laboratories
• Romer Labs Diagnostic GmbH
• Microbac Laboratories Inc.
• Bureau Veritas SA
• Silliker Inc.
• Asurequality
• ALS Limited
• Eurofins Scientific SE
• Intertek Group PLC
• SGS SA.

The global mycotoxin testing market is segmented as follows:

By Technology

• Immunoassay-Based
• High-Performance Liquid Chromatography
• LC-MS/MS-Based, and Others

By Type

• Patulin
• Fusarium
• Aflatoxins
• Ochratoxins
• Others

By Food-Type

• Dairy
• Meat & Poultry
• Processed Food
• Fruits & Vegetables
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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