Rising concerns over foodborne illnesses and the health risks associated with mycotoxins have led to a greater emphasis on food safety.
The Mycotoxin Testing market is growing due to heightened awareness of food safety, strict regulatory standards, and the need for compliance in the global food trade.— SNS INSIDER
AUSTIN, TX, UNITED STATES, November 26, 2024 /
EINPresswire.com/ --
The
Mycotoxin Testing Market was valued at USD 1155.92 billion in 2023 and is expected to grow to USD 2125.1 billion by 2032, at a CAGR of 7% over the forecast period of 2024-2032.
The Mycotoxin testing market is growing due to increasing consumer health concerns regarding the impact of mycotoxins on both human and animal health are expected to increase productivity in demand for efficient testing. Because of the high demand for organic and sustainable farming practices, innovatory shops need an umbilical cord to stay on top of the work that they do.
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Tightening Global Regulations and Emerging Market Risks Drive Demand for Enhanced Mycotoxin Testing Solutions
Mycotoxin levels allowed in food and feed use are being set increasingly low by governments and food safety organizations around the world. Different mycotoxins have maximum limits set by the U.S. Food and Drug Administration (FDA), which also raises demand for testing services to test compliance. Likewise, the stand-alone authority for food standards, the Codex Alimentarius Commission, which is a joint FAO/WHO food standards authority has set maximum levels on certain mycotoxins.
New opportunities for testing services also arise from the increasing number of disorders associated with mycotoxin in emerging economies like Africa or Asia. The rise in trade between emerging markets increases the threat of transmitting foodborne illness, whilst shoddy cleanliness in factories as seen in Indonesia highlights how necessary stringent mycotoxin testing is. Due to the economic losses caused by mycotoxin contamination and damage to a country's food industry reputation, legislation enforcing mycotoxin evaluations in food and feed products is now being adopted in many governments of these areas.
Aflatoxins Lead 2023 Mycotoxin Testing, LC-MS/MS, and Feed Segment to Drive Future Growth by 2032
By Type: Aflatoxins lead the mycotoxin testing market in 2023 due to their common presence in food and feed, especially in crops like peanuts and corn, where regulations are stringent. Aflatoxins are also projected to have the fastest-growing CAGR from 2024 to 2032, driven by heightened awareness of health risks and stricter food safety regulations.
By Technology: In 2023, HPLC is the dominant segment for the mycotoxin testing market due to its high precision and reliability in the simultaneous quantification of many mycotoxins in a wide range of food and feed matrices
LC-MS/MS-based technology is anticipated to have the highest-growing CAGR from 2024 to 2032, due to increased sensitivity and specificity in detecting low levels of mycotoxins for a growing number of regulatory demands that need food safety.
By Application: The food application segment held the largest share in the mycotoxin testing market during 2023, owing to strict provisions & regulations regarding food safety and rising consumer awareness about possible health hazards associated with mycotoxin contamination in food products.
The feed application segment is estimated to record the fastest-growing CAGR during the forecast period 2024-2032 due to a rise in livestock production coupled with stringent regulatory guidelines for animal feed safety & quality.
By Pathogen Type
• Aflatoxins
• Ochratoxin A
• Patulin
• Fusarium Toxins
• Other Mycotoxins
By Technology
• HPLC-based
• LC-MS/MS-based
• Immunoassay-based
• Other Technologies
By Application
• Feed
• Food
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North America Leads 2023 Mycotoxin Testing Market, Asia Pacific Set for Rapid Growth by 2032
In 2023, North America dominated the mycotoxin testing market share, owing to the strict regulatory requirements such as the FDA and USDA. The orders call for extensive testing of food and feed products for mycotoxins to safeguard consumers. Moreover, consumers are well aware of the food safety issues that have led manufacturers to opt for stringent testing procedures. The growing adoption of advanced testing technologies i.e., HPLC and LC-MS/MS, also helps in enhancing the development of the mycotoxin testing market in North America.
The CAGR for the Asia Pacific region is expected to be significantly higher from 2024 to 2032. Several factors are responsible for this growth major among them are the increasing agricultural production in countries such as China and India, where mycotoxin contamination is an important risk factor. Increasing consumer awareness of food safety, as well as the health implications of mycotoxin exposure, is compelling consumers and regulatory agencies to have stringent testing processes instilled in end-products.
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Recent Developments:
• In May 2024, The FDA announced that sufficient lab capacity for mycotoxin testing has been achieved under the LAAF program, ensuring greater accuracy and reliability in testing food imports for mycotoxins.
• In August 2024, ImagoAI Inc., a leader in food safety technology, partnered with the USDA to develop a handheld mycotoxin test, making mycotoxin testing more accessible and convenient anywhere.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
8. Mycotoxin Testing Market, By Pathogen Type
9. Mycotoxin Testing Market, By Technology
10. Mycotoxin Testing Market, By Application
11. Regional Analysis
12. Company Profile
13. Use Cases and Best Practices
14. Conclusion
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