Mycotoxin Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global market for mycotoxin testing is anticipated to witness significant growth, with a projected compound annual growth rate (CAGR) of 6.7% from 2024 to 2031. Rising from a valuation of US$ 2.00 billion in 2024, the market size is expected to reach approximately US$ 3.16 billion by 2031. Key factors such as increasing concerns about food and feed safety, stringent government regulations, and expanding food trade are driving the demand for mycotoxin testing services worldwide.

Market Insights

Rising Need for Feed Safety:

Feed safety is critical for ensuring animal health and indirectly contributes to human health and food safety. With a growing global population and rising consumption of animal products, the demand for secure and high-quality feed has surged. Mycotoxin contamination in animal feed poses significant safety challenges, boosting the need for advanced mycotoxin testing solutions.

Expanding Global Food Trade:

The rise in international food trade and the growing demand for processed food products are intensifying the focus on food safety. Increased consumer awareness about health risks associated with contaminated food has further bolstered the demand for mycotoxin testing services.

Stringent Food Safety Regulations:

More than 100 countries have implemented strict regulatory measures to control mycotoxin levels in food and feed products. These regulations aim to minimize health risks and economic losses, thereby promoting market growth for mycotoxin testing.

Market Drivers

Demand from the Food Processing Industry:

The rapid growth of the food processing sector, driven by urbanization, technological advancements, and increased purchasing power, has heightened the need for mycotoxin testing. Processed foods such as bakery and dairy products are often made with ingredients susceptible to mycotoxin contamination.

Rising Focus in Pharmaceuticals:

The pharmaceutical sector presents a high-potential growth opportunity for mycotoxin testing players. With stricter safety standards and rigorous clinical trial processes, the demand for testing services in the pharmaceutical industry is growing steadily.

Technological Advancements:

Emerging technologies in mycotoxin detection and analysis are further supporting market expansion by enabling faster and more accurate testing.

Business Opportunities

Growth in Emerging Markets:

Developing regions such as Africa and Asia are witnessing increased incidents of mycotoxicosis outbreaks, creating significant opportunities for market players. For instance, high levels of aflatoxins have been reported in food products in Nigeria, highlighting the need for reliable testing solutions.

Strategic Partnerships and Collaborations:

Key players are forming strategic alliances to expand their presence in emerging markets. For instance, the 2018 joint venture between AsureQuality and Bureau Veritas aimed to establish comprehensive food-testing laboratories in Southeast Asia.

Regional Analysis

Europe:

Europe leads the mycotoxin testing market, supported by stringent policies and a strong presence of industry players. Deoxynivalenol is the most frequently detected mycotoxin in the region, particularly in corn samples, which necessitates rigorous testing to protect livestock and food safety.

China:

In East Asia, China holds a dominant position with a market share of approximately 50% in 2023. The Chinese government's focus on food safety and stringent regulations has driven the growth of mycotoxin testing in the region.

Asia-Pacific and Africa:

These regions are expected to offer lucrative opportunities due to increasing awareness and the prevalence of mycotoxin contamination.

Competitive Analysis

Prominent companies in the global mycotoxin testing market include:

• SGS SA
• Eurofins Scientific SE
• AltaBioscience
• Romer Labs Division Holding GmbH
• Charm Sciences, Inc.
• Intertek Group plc.
• Trilogy Analytical Laboratories
• ELISA Technologies, Inc.
• EMSL Analytical, Inc
• Belcosta Labs, Inc.
• ALS Limited
• Mérieux NutriSciences
• Premier Analytical Services

These players are focused on expanding their laboratory networks, adopting advanced technologies, and exploring new growth avenues in developing markets.

Mycotoxin testing Market Segmentation

By Type:

• Aflatoxin
• Ochratoxins
• Deoxynivalenol
• Fumonisins
• Zearalenone
• Trichothecene
• Patulin
• Others

By End Use:

• Food and Beverages
• Cereals, Grains and Pulses
• Dairy Products
• Nuts and Seeds
• Meat and Poultry
• Baby Food
• Beverages
• Bakery and Confectionery
• Snacks and Others
• Animal Feed
• Pharmaceuticals

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

This product will be delivered within 1-3 business days.