Growing Interest of Consumers for Organic Foods
Organic foods generally are grown with lesser use of chemicals and artificial ingredients and flavors, and are produced according to a set of stringent government standards. Foods cannot be labeled organic unless their production process sticks to those rules, and those extra steps enable the players to price the product on a higher end compared to regular products. This demand for organic foods has increased on a higher end in the food industry as there is a huge increase in health consciousness among the consumers.
The increase in disposable income allows the consumers to purchase a product though it is priced high. This enables an increase in sales revenue for the organic foods market with a CAGR of 6.67% during 2010 to 2015, wherein, the growth rate from 2013 to 2016 accounts to 3.56%. The United States accounts for the highest consumption of organic foods, with a spend of approximately 1 billion USD in 2016. Mycotoxins testing is the most preferred way to test the organic foods and hence the growth in consumption of organic foods drives the penetration for mycotoxins testing market during the forecast period.
Chromatography holds the highest share in Mycotoxin Testing Market
The process of chromatography detects specific trace amount of mycotoxin by its selective extraction and purification technique. Further, the cost effective testing and high accuracy incorporated in the process have dominated the market share among other technologies. HPCL-MS/MS is followed by immunoaffinity chromatography, another reliable method for mycotoxin detection. The market is segmented into test type, technology type, application and geography.
Based on test type, the market segmentation includes aflatoxin, ochratoxin, fusarium, patulin and other mycotoxins. Further, these mycotoxins are determined by techniques such as chromatography, mass spectroscopy, enzyme-linked immunosorbent assay (ELISA) and other methods. The chromatography holds a dominant market share of 52% in 2016, due to its reliable and accurate measure of mycotoxin.
By application type, the market is segmented into fruits & vegetables, dairy products, meat & sea foods, cereal, grains & pulses, nuts, seeds, spices & herbs and processed food. Cereals hold the significant market share, owing to the high chances of fungus infection during storage. Nuts, seeds and spices hold the second largest share in the market.
Emerging Nation Such as Vietnam Offers Potential Opportunities
In Vietnam, the national technical regulation board regulates the standard limit for various mycotoxin in food products. The growing rigidity of regulations in emerging nations offers an excellent opportunity for mycotoxin testing market. The market, based on geography, is segmented into North America, Europe, Asia-Pacific, South America and Africa. Further, North America and Europe dominates the mycotoxin testing market while Asia-Pacific is growing at a faster rate.
- January 2017: Neogen Corporation launched new revolutionary test kit for mycotoxin detection
Reasons to Purchase this Report
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
- 3 months analyst support along with the Market Estimate sheet (in excel).
- Value chain analysis
- Consumer behavior analysis in country level
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering & Econometric Modelling
2.4.4 Expert Validation
3. KEY FINDINGS
4. Market Dynamics
4.1.1 Strict Food Safety Regulation
4.1.2 Increased Trade of Cereal, Grains and Processed Grain Products
4.1.3 Growing Demand of Organic Food
4.2.1 Lack of Awareness of Food Safety Regulations
4.2.2 High Cost and Time Consuming Testing Pattern
4.3.1 Growing Food Safety Concern in Developing Region
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products & Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Test Type
5.2 By Technology
5.2.1 Chromatography (Liquid, gas, HPLC, LC-MS/MS)
5.2.4 Other Technologies
5.3 By Application
5.3.1 Fruits & Vegetables
5.3.2 Dairy products
5.3.3 Cereals, Grains & Pulses
5.3.4 Meat & Poultry
5.3.5 Nuts, Seeds,Spices, Herbs
5.3.6 Processed Food
5.4 By Geography
5.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
5.4.4 South America
188.8.131.52 South Africa
6. Competitive Landscape
6.1 Strategy Adopted by Key players
6.2 Most Active Companies in The Past Five Years
6.3 Market Share Analysis
7. Company Profiles
7.1 SGS S.A.
7.2 Bureau Veritas S.A.
7.3 Intertek Group PLC
7.4 ALS Limited
7.5 Eurofins Scientific
7.6 DTS Laboratories
7.7 ILS Limited
7.8 Covance Inc.
7.9 Silliker, Inc.
7.10 Asurequality Limited
7.11 Microbac Laboratories, Inc.
7.12 Spectro Analytical Lab Ltd.
7.13 Vanguard Sciences (Formerly Aegis Food Testing Laboratories)
7.14 Covance Inc.
7.15 International Laboratory Services
7.16 Ecolab Inc.