Global Mycotoxin Testing Market: Overview
According to the Food and Agriculture Organization of the United Nations (FAO), nearly 25% of food produced in the world contains mycotoxins, which are secondary metabolites of moulds and toxic in nature. There are roughly 400 known species of mycotoxins of different chemical compound classes, out of which 25 are quite common due to their frequency in occurrence. With the rising population across the globe, the demand for food is escalating, which as a result makes it mandatory to emphasize more on mycotoxin testing. Consequently, the global market for mycotoxin testing is estimated to expand at a healthy CAGR during the forecast period of 2016 to 2024.
This report on global market for mycotoxin testing is a comprehensive inspection of the factors that are expected to influence the demand over the course of next few years. It also notes some of the trends and opportunities that may prove to be a boon for the market in the near future. One of the key feature of the report is the section on company profiles, wherein some of the key vendors have been analyzed for their market share, geographical presence, product portfolio, and recent strategic developments. The global mycotoxin testing market can be segmented on the basis of type into aflatoxins, fusarium toxins, patulin, ochratoxins, and other toxins including alternaria, citrinin, ergot alkaloids, sterigmatocystin, and cyclopiazonic acid, on the basis of technology into high pressure liquid chramoatography (HPLC), LC-MC or GC-MS, and Immunoassay-based or Enzyme-linked immunosorbent assay (ELISA).
Global Mycotoxin Testing Market: Trends and Opportunities
Apart from growing need for food safety, this market is driven by humid atmospheric conditions, which is leading to mycotoxins productions in food products such as cereals, bread and cookies, dried fruits, herbs and species, milk and dairy products, beverages such as beer and wine, and meat and poultry products. Several governments across the globe have taken a note of the issues caused by mycotoxins and have introduced stringent regulations for the players in the food and beverage industry to follow. Moreover, consumer awareness regarding the presence of mycotoxins has increased multiple folds in the recent past, which is further propelling the demand. Increased international trade mandates, food recalls, and advanced technologies to rapidly and effectively test the presence of mycotoxins are other factors favoring the growth of the market. However, the lack of food control systems, infrastructure, and technology in the emerging economies is expected to hinder the growth rate of the global mycotoxins market.
Currently, fusarium toxin segment has the maximum demand, and is expected to remain prominent throughout the forecast period, due to a vast number of fusarium toxin prevalence in several kinds of foods and increasing food trade which requires proper contamination check before being shifted from two locations of different climates. By technology, HPLC remains most common method as it is economical and effective in detecting mycotoxins.
Global Mycotoxin Testing Market: Region-wise Outlook
Geographically, the report studies the opportunities available in the regions of North America, Asia Pacific, Europe, and Rest of the World. Currently, Europe serves the maximum demand, with the U.K. dominating the country-wide market. This is a reflection of food safety policies in this region by National Reference Laboratories (NRLs), Control Laboratories (CLs), Euroepan Food Safety Authority (EFSA), and EU Reference Laboratories (EURLs).
Companies mentioned in the research report
Some of the prominent players in global mycotoxin testing market are Bureau Veritas S.A., ALS Ltd., Asurequality Ltd., Eurofins Scientific SE, Microbac Laboratories, Inc., Intertek Group PLC., Romer Labs Diagnostic GmbH, Silliker, Inc., SGS S.A., and Symbio Laboratories.
Major regions analyzed under this research report are:
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.