Mycotoxin Feed Testing Global Market Report 2024

The mycotoxin feed testing market has grown strongly in recent years. It will grow from $1.37 billion in 2023 to $1.47 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The expansion observed in the historical period can be attributed to several factors, including changes in crops and the environment, economic influences, consumer confidence, heightened global awareness regarding food safety, and increased collaboration within the industry. These elements collectively contributed to the growth and development of mycotoxin feed testing methodologies and practices during that time.

The mycotoxin feed testing market is expected to see strong growth in the next few years. It will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. Anticipated growth in the forecast period can be linked to several factors, including the impact of climate change, evolving consumer demands, the rise of emerging markets, and heightened global concerns regarding food safety. These elements are expected to contribute to the expansion of mycotoxin feed testing practices.

The rise in foodborne illnesses is anticipated to drive the mycotoxin feed testing market. As foodborne illnesses increase due to factors such as expanding commercial food services and new food production methods, mycotoxin feed testing plays a crucial role in reducing contamination risks. The World Health Organization reported that globally, around 600 million individuals, or one in ten people, suffer from foodborne illnesses, resulting in approximately 0.42 million annual deaths. Hence, the surge in foodborne illnesses propels the growth of mycotoxin feed testing.

Increased awareness of animal health is poised to boost the mycotoxin feed testing market. This heightened understanding of animal well-being covers various facets such as nutrition, disease prevention, and suitable housing. The demand for mycotoxin feed testing is rising due to its role in risk assessment, early detection, and ensuring safe, high-quality animal products. Reports from HealthforAnimals indicated a 12% increase in the global animal health sector's value to $38.3 billion in 2021, with revenues reaching $33.7 billion from $30 billion in 2020. Hence, growing awareness of animal health drives the mycotoxin feed testing market.

Technological advancements drive the popularity of mycotoxin feed testing. This testing involves analyzing animal feed for mycotoxins, toxic substances produced by fungi that can contaminate feed and harm livestock. Innovations such as Ring Biotechnology's iQuanti mycotoxins quantitative rapid test kit, launched in September 2022, provide rapid and accurate detection of major mycotoxins in cereals. The kit performs lateral flow immunoassays-based tests and can identify key mycotoxins in just 10 minutes following simple specimen extraction.

Major players in the mycotoxin feed testing market focus on product launches to meet the demand for accurate testing. Neogen Corporation's recent launch of Reveal Q+ for DON EndPoint and Reveal Q+ for Aflatoxin EndPoint assays targets the efficient detection of deoxynivalenol (DON) and aflatoxin in agricultural products such as corn. These assays, launched in May 2023, ensure swift and precise mycotoxin testing in food and feed products, emphasizing Neogen's commitment to food and animal safety solutions, especially in mycotoxin detection.

In January 2021, SGS SA, a Swiss company specializing in inspection, verification, testing, and certification services, acquired SYNLAB Analytics & Services for $616.58 million (550 million euros). This strategic acquisition was intended to bolster SGS SA's global network in crucial sectors such as environment, food, life sciences, and oil condition monitoring. SYNLAB International GmbH, the acquired company based in Germany, is primarily involved in laboratory services, medical diagnostics for humans and animals, and environmental analysis.

Major companies operating in the mycotoxin feed testing market report are ALS Limited, AsureQuality Limited, Bureau Veritas SA, Eurofins Scientific SE, Intertek Group plc, Mérieux NutriSciences Corporation, SGS SA, Symbio Laboratories, Bio-Check Ltd., Charm Sciences Inc., EMSL Analytical Inc., IEH Laboratories and Consulting Group LLC, Neogen Corporation, Premier Analytical Services Inc., Romer Labs Division Holding GmbH, Tuv Sud Gesellschafterausschuss Gbr, Biomin Holding GmbH, CDX Laboratories Inc., Wettlab GmbH & Co. KG, Laboratoire du Nord, The Zwick Roell Group, Astell Scientific Ltd., BioAnalytix GmbH, C&K Testing Services Co. Ltd., Ceva Santé Animale, Chem Service Inc., ChromaDex Corporation, Control Union Certifications BV, CTI FoodTech Group, Dako A/S.

North America was the largest region in the mycotoxin feed testing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global mycotoxin feed testing market duirng the forecast period. The regions covered in the mycotoxin feed testing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mycotoxin feed testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of mycotoxin feed testing encompass various toxins such as aflatoxins, alternaria, cyclopiazonic acid, citrinin, fusarium toxins, ergot alkaloids, patulin, ochratoxins, sterigmatocystin, and others. For instance, aflatoxins are toxins produced by fungi commonly found on agricultural products such as maize (corn), peanuts, cottonseed, and tree nuts. These tests are conducted on a range of substances including cereals, seeds, seed products, forage, silage, and others. Various technologies such as chromatography, immunoassay, lateral flow assay, spectroscopy, among others, are employed for mycotoxin detection. These testing procedures cater to end-users in industries such as food and beverages, animal feed, and pharmaceuticals, ensuring the safety and quality of their products.

The mycotoxin feed testing market research report provides mycotoxin feed testing market statistics, including mycotoxin feed testing industry global market size, regional shares, competitors with a mycotoxin feed testing market share, detailed mycotoxin feed testing market segments, market trends and opportunities, and any further data you may need to thrive in the mycotoxin feed testing industry. This mycotoxin feed testing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The mycotoxin feed testing market includes revenues earned by testing for mycotoxins such as fumonisins, deoxynivalenol, and other mycotoxins present in food and animal feed such as dried fruits, apples, coffee beans, cocoa tea, herbal tea, fruit tea, and others. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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