Asia-Pacific Mycotoxin Testing Market – Industry Trends and Forecast to 2030

Asia-Pacific Mycotoxin Testing Market Analysis and Size

According to the Food and Agriculture Organization of the United Nations (FAO), nearly 25% of the world's food contains mycotoxins, which are toxic secondary metabolites of molds. There are approximately 400 known species of mycotoxins of various chemical compound classes, with 25 being quite common due to their frequency of occurrence. With the world's population growing, the demand for food is increasing, necessitating a greater emphasis on mycotoxin testing.

Data Bridge Market Research analyses that the Asia-Pacific mycotoxin testing market, which was USD 230,214.29 million in 2022, would rocket up to USD 436,044.31 million by 2030, and is expected to undergo a CAGR of 8.3% during the forecast period. "Aflatoxins" dominates the type segment of the mycotoxin testing market due to the wider consumer adoption of seriousness in foodborne disease. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Asia-Pacific Mycotoxin Testing Market Scope and Segmentation

Market Definition

Mycotoxin testing detects the presence of harmful mycotoxin metabolites caused by mold or fungi in the body or home using a urine or environmental test. Mycotoxin testing ensures that the products are not carcinogenic and comply with international regulatory standards. Mycotoxins are toxic chemical compounds produced by fungi that can cause several fatal diseases.

Asia-Pacific Mycotoxin Testing Market Dynamics

Drivers

• Rising risk of mycotoxin contamination

The mycotoxins testing market is expected to grow during the forecast period due to the increased risk of mycotoxin contamination in livestock feed and rising incidences of mycotoxin occurrences in crops.

• Stringent regulations laid by the government on the implementation of testing

Various governments and regulatory bodies have made animal feed and food ingredient testing mandatory worldwide. Animal feed is not approved for marketing unless its safety and efficacy have been proven. Such precautions to avoid contamination, chemicals, and toxic presence have significantly impacted the growth of the mycotoxin testing market. Many countries have enacted specific regulations for mycotoxins in food and animal feed to protect human and animal health.

Opportunity

• Increasing food trade

Increasing food trade across the borders of emerging markets expands the market's opportunity for growth. The rising number of foodborne illnesses and poor sanitation and processing conditions in factories in a few countries necessitate mycotoxin testing of food. The implementation of regulations in emerging economies that have entered the food trade and the authorization of authorities to prohibit the import and supply of contaminated food and enforce food recalls are expected to increase demand for testing services in these regions. Furthermore, increasing cases of mycotoxicosis outbreaks in Asia and Africa are expected to create significant growth opportunities for mycotoxin testing in these regions.

Restraint/ Challenge

• Increasing risk of Cardiovascular disease due to consumption of high amounts of caffeine

Several developing regions in mycotoxin testing markets lack organization, sophistication, and technology. Food control laboratory infrastructure is likely scarce in many developing countries due to limited resources, technology, and poor management. There are numerous issues concerning food safety, such as a lack of institutional coordination, outdated technology, a lack of expertise for executing regulation at the lowest levels, and a lack of updated standards, all of which have hampered the testing market. Laboratories are under-equipped and lack appropriate by untrained analytical personnel.

This mycotoxin testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the mycotoxin testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

This mycotoxin testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the mycotoxin testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Development

• In June 2020, AsureQuality launched a new brand of food assurance services aiming toward a high personal commitment to the customer. The launch of this brand is going to enhance the global position of the company generating more income along with profit for the company.

Asia-Pacific Mycotoxin Testing Market Scope

The mycotoxin testing market is segmented based on type, product type, technology, sample, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Aflatoxins
• Ochratoxins
• Fusarium toxins
• Deoxynivalenol
• Patulin
• Cyclopiazonic acid
• Ergot alkaloids
• Citrinin
• Sterigmatocystin
• Alternaria
• T-2 toxin
• Others

Product type

• Devices
• Reagents & kits
• Services

Technology

• Chromatography based
• Immunoassay-based
• Lateral flow assay based
• Spectroscopy based
• Others

Sample

• Food & beverages
• Feed
• Pharmaceutical

End user

• Research lab
• Research institutes
• Food testing industries
• Others

Mycotoxin Testing Market Regional Analysis/Insights

The mycotoxin testing market is analyzed and market size insights and trends are provided by country, type, product type, technology, sample, and end user, as referenced above.

The countries covered in the mycotoxin testing market report are China, Japan, India, South Korea, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines, and the rest of Asia-Pacific.

China is the fastest growing and dominates the mycotoxin testing market because of its strong base of manufacturing facilities, the strong presence of major players in the market, increased demand for food testing among consumers, and the rising number of offices and workers in this country.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Mycotoxin Testing Market Share Analysis

The mycotoxin testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the market.

Some of the major players operating in the mycotoxin testing market are:

• SGS (Switzerland)
• Bureau Veritas (France)
• Eurofins Scientific (Luxembourg)
• Intertek Group plc (UK)
• Mérieux NutriSciences Corporation (US)
• ALS Limited (Australia)
• Neogen (US)
• AsureQuality (New Zealand)
• Bio-Check (UK)

SKU-55848