Increased consumption of Meat, poultry, and seafood, rapid urbanization in Asia Pacific segment demand for Fruits & vegetables in the market. Stringent regulations within developed countries are major driving factors for Mycotoxin Testing market.
Market Size – USD 865 million in 2019, Market Growth – CAGR of 6.3% Market Trends – Increase in Demand for Cereal Products and Oats to Offer High Growth Opportunities for Mycotoxin Testing is a major opportunity for mycotoxin testing market players.
The global Mycotoxin Testing Market is estimated to be valued at USD 865 million in 2019 and is projected to reach USD 1,213 million by 2027, at a CAGR of 6.3%. A mycotoxin is the generic name of substances that are secondary metabolites of molds and cause chronic physiological or pathological damage to humans, domestic animals, or fish. Food that has mycotoxin levels above a particular maximum allowable level is either rejected outright for sale or sold at a lower price for different use. Such transactions can take place at local levels or at the level of trade among countries. Sometimes this can result in substantial economic losses for food producers, but the benefit of such monitoring systems. Losses related to health occur when mycotoxins are present in food at levels that can cause illness. In developed countries, such losses are often measured in terms of cost of disease; around the world, such losses are more frequently measured in terms of disability-adjusted life years (DALYs). Therefore mycotoxin testing is promoted in the global market by the government and international organizations to reduce illness and economic losses caused by it.
The principal factor that is driving the mycotoxin testing market is the stringent food safety regulations that have been executed by several countries. The increase in the production of the mycotoxins in the food and feed products is due to the humid atmospheric conditions. The other factors that add to the extension of the mycotoxin testing market are consumer complaints, incremented international trade, and growing health concern among consumers.
The key players in the global mycotoxin testing market are SGS (Switzerland), Bureau Veritas (France), Eurofins (Luxembourg), Intertek (UK), Mérieux NutriSciences (US), ALS Limited (Australia), Neogen (US), Romer Labs (US), Symbio Laboratories (Australia), OMIC USA (US), AsureQuality (New Zealand), and Microbac (US).
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Further key findings from the report suggest
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Segments covered in the report:
This mycotoxin testing report forecasts revenue growth at a global, regional & country level, and provides an analysis of the mycotoxin testing market trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, Reports and Data have segmented Mycotoxin Testing market on the basis of sample, application, type and region:
On the basis of Type, mycotoxin testing the market has been segmented as follows: (Revenue, USD Million; 2020-2027)
On the basis of sample, the mycotoxin testing market has been segmented as follows: (Revenue, USD Million; 2020-2027)
On the basis of Technology, the mycotoxin testing market has been segmented as follows: (Revenue, USD Million; 2020-2027)
Regional Outlook (Revenue, USD Million; 2020-2027)
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Table of Content:
Chapter 1. Market Synopsis 1.1. Market Definition 1.2. Research Scope & Premise 1.3. Methodology 1.4. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2019 – 2027 Chapter 3. Indicative Metrics Chapter 4. Mycotoxin Testing Market Segmentation & Impact Analysis 4.1. Mycotoxin Testing Segmentation Analysis 4.2. Mycotoxin Testing Market Impact Analysis 4.2.1. Market driver analysis 4.2.1.1. Implementation of Stringent Regulations Related to Mycotoxin Detection 4.2.1.2. Growth in International Trade 4.2.1.3. Growth in Consumer Awareness 4.2.2. Market restraint analysis 4.2.2.1. Lack of Food Control Systems, Technology, Infrastructure, and Resources in Developing Countries 4.2.3. Market opportunity analysis 4.3. Regulatory framework 4.4. Porter’s Five Force Analysis 4.4.1. Threat of New Entrants 4.4.2. Threat of Substitutes 4.4.3. Bargaining Power of Suppliers 4.4.4. Bargaining Power of Customers 4.4.5. Competitive Rivalry 4.5. Mycotoxin Testing PESTEL Analysis 4.6. Porters Five Forces Model 4.7. Covid-19 Impact Analysis
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Chapter 9. Competitive Landscape 9.1. Market Revenue Share by Manufacturers 9.2. Mergers & Acquisitions 9.3. Strategy Benchmarking 9.4. Vendor Landscape 9.4.1. North American Suppliers 9.4.2. European Suppliers 9.4.3. Asia-Pacific Suppliers 9.4.4. Middle East and Latin American Suppliers Chapter 10. Company Profiles 10.1. Archer Daniels Midland 10.1.1. Company Overview 10.1.2. Financial Performance 10.1.3. Product Portfolio Benchmarking 10.1.4. Strategic Initiatives 10.2. Lallemand 10.2.1. Company Overview 10.2.2. Financial Performance 10.2.3. Product Portfolio Benchmarking 10.2.4. Strategic Initiatives 10.3. DSM Company 10.3.1. Company Overview 10.3.2. Financial Performance 10.3.3. Product Portfolio Benchmarking 10.3.4. Strategic Initiatives 10.4. CHR. Hansen 10.4.1. Company Overview 10.4.2. Financial Performance 10.4.3. Product Portfolio Benchmarking 10.4.4. Strategic Initiatives 10.5. Lesaffre 10.5.1. Company Overview 10.5.2. Financial Performance 10.5.3. Product Portfolio Benchmarking 10.5.4. Strategic Initiatives
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