Mycotoxin Testing Market by Type (Aflatoxins, Fumonisins, Ochratoxin A), Sample (Animal Feed, Food), Technology, End-User - Global Forecast 2024-2030

Mycotoxin Testing Market by Type (Aflatoxins, Fumonisins, Ochratoxin A), Sample (Animal Feed, Food), Technology, End-User - Global Forecast 2024-2030

The Mycotoxin Testing Market size was estimated at USD 2.50 billion in 2023 and expected to reach USD 2.67 billion in 2024, at a CAGR 7.63% to reach USD 4.18 billion by 2030.

Mycotoxins are toxic compounds produced by specific fungi, contaminating crops such as grains, nuts, and spices and posing substantial health risks to humans and animals. This mycotoxin testing has applications across multiple stages of the food supply chain such as from raw material procurement to finished product delivery, including sectors such as agriculture for testing crops such as corn, wheat, and barley, the food processing industry for ensuring safety during processing and packaging, and the animal feed industry for maintaining livestock health. Market growth is influenced by stringent global food safety regulations, heightened consumer awareness about the food safety of individuals and animals, and technological advancements that offer higher accuracy and cost-effectiveness. High testing costs, complexity of contamination, lack of standardization of test quality, and technical limitations of mycotoxin tests may hinder the market growth. Furthermore, the potential integration of advanced technologies such as IoT and blockchain, expansion into non-food sectors such as biofuel production and pharmaceuticals, and innovation in cost-effective, sensitive, and specific detection methods, along with automated and rapid testing solutions, is expected to create growth opportunities for the mycotoxin testing market.

Regional Insights

In the Americas, majorly in the United States and Canada, high awareness of foodborne illnesses boasts a well-established mycotoxin testing infrastructure. American consumers highly value food labels indicating safety tests, which are necessary for market growth for mycotoxin testing services. Canada sees a strong preference for safely-produced, locally sourced food, further bolstering the mycotoxin testing market. In the EMEA region, food safety regulations are highly developed in the EU and enforced by the European Food Safety Authority (EFSA) to ensure precise mycotoxin detection. EU countries have adequate research on the integration of digital technologies with traditional methods of testing. The Middle East is increasingly aware of food safety due to high import and export activities, and significant investment is being made in improving testing infrastructure in the region. The African region is emerging as a developing market for mycotoxin testing services, with increasing agricultural practices and international aid that help Africa build local capacities. In APAC, economies such as China, India, Japan, and South Korea are undergoing a surge in the food industry, which necessitates enhanced food safety measures due to significant concerns over mycotoxin contamination in cereals, nuts, and spices. Increasing demand for better-regulated food products and the adoption of advanced testing methods to meet high expectations for food quality are building the need for mycotoxin testing in the region.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Mycotoxin Testing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Rising prevalence of mycotoxin contamination in various crops
Increasing awareness of food safety concerns among consumers
Government regulations and policies aimed at ensuring food safety

Market Restraints

High investment cost of mycotoxin testing

Market Opportunities

Innovations in testing technologies that enhance the analytical capabilities of laboratories
Rising application of mycotoxin testing in non-food sectors

Market Challenges

Technical limitations associated with certain mycotoxin testing

Market Segmentation Analysis

Type: Rising need for aflatoxins testing due to increasing high toxicity and carcinogenicity in food
End-User: Growing adoption of mycotoxin testing in the pharmaceutical industry owing to the maintenance of strict quality and purity standards

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Mycotoxin Testing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Mycotoxin Testing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Creative Diagnostics Introduced Comprehensive Fumonisin Test Reagents for Food Safety Analysis

Creative Diagnostics introduced an extensive range of Fumonisin Test Reagents, including conjugates, antibodies, and test kits. These reagents offer robust and precise detection solutions for fumonisin, a harmful mycotoxin produced by Fusarium species. The launched Fumonisin Test Reagents are compatible with various analytical methods such as ELISA, HPLC, and PCR, ensuring reliable and sensitive detection across different laboratory settings.

Food and Agriculture Organization and Mars, Incorporated Collaborated to Enhance Global Food Safety Standards

The Food and Agriculture Organization (FAO) and Mars, Incorporated have signed a Memorandum of Understanding (MoU) to improve global adherence to Codex Alimentarius international food safety standards. The agreement focused on enhancing mycotoxin management in corn value chains using modeling approaches and reinforcing information-sharing on emerging food safety threats.

US BioTek Laboratories, LLC Enhanced Diagnostic Capabilities with Acquisition of RealTime Laboratories

US BioTek Laboratories, LLC announced its acquisition of RealTime Laboratories. This strategic move broadened the testing capabilities, expertise, and geographic presence of the combined organization, offering customers more diagnostic options and accelerating the development of new tests.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Mycotoxin Testing Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Mycotoxin Testing Market, highlighting leading vendors and their innovative profiles. These include Agrifood Technology, Bio-Check Ltd., Bureau Veritas, Charm Sciences, Inc., Dairyland Laboratories, Inc., EMSL Analytical, Inc., Envirologix Inc., Eurofins Scientific SE, IEH Laboratories & Consulting Group, Intertek Group PLC, Microbac Laboratories, Inc., Neogen Chemicals Ltd., Omic USA Inc., PerkinElmer Inc., TLR International Laboratories, and Trilogy Analytical Laboratories.

Market Segmentation & Coverage

This research report categorizes the Mycotoxin Testing Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Aflatoxins
Fumonisins
Ochratoxin A
Patulin
Trichothecenes
Zearalenone
Sample
Animal Feed
Cereals & Cereal Byproducts
Forage & Silage
Seeds & Seed Products
Food
Cereals, Grains, & Pulses
Fruits & Vegetables
Meat, Poultry & Seafood
Milk & Milk Products
Nuts, Seeds & Spices
Technology
Chromatographic-Based Methods
Immunoassay-Based Methods
Spectroscopy-Based Methods
End-User
Feed Industry
Food Industry
Pharmaceutical Industry
Research & Academic Institutions
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year