LONDON, Feb. 7, 2017 /PRNewswire/ --
"Mycotoxin testing market projected to grow at a CAGR of 6.0%"
The mycotoxin testing market is projected to reach USD 1.56 billion by 2022, at a CAGR of 6.0% from 2016 to 2022. The market is driven by factors such as humid atmospheric conditions leading to increase in mycotoxins production in food & feed products, implementation of stringent food safety regulations, international trade mandates, growing health concern among consumers, consumer complaints (food recalls). Increased consumer awareness for food safety, and availability of advanced technologies capable of rapid testing provide new opportunities for market players. Lack of food control systems, technology, infrastructure & resources in developing countries are the factors restraining the market growth.
"The Fusarium toxin segment is projected to be the fastest growing segment in the mycotoxin testing market during the forecast period"
The Fusarium toxin segment is projected to grow at the highest CAGR during the forecast period, due to the large number of Fusarium toxin prevalence and presence in various food & feed products. The increase in food trade and contamination in grain due to changing climatic conditions is also a significant driver.
The exposure to these mycotoxins has caused concerns among consumers of possible health consequences, which in turn has increased the demand for Fusarium toxin testing. This is followed by the aflatoxin segment, which is projected to remain the second-largest market through 2022.
"HPLC-based technology led the market with the largest share in 2015"
The HPLC technology is found to be the most common and economic technology to detect and quantify mycotoxins in food & feed products. High-pressure (or high-performance) liquid chromatography is one of the most powerful tools in analytical testing of foods. It has the ability to separate, identify, and quantitate compounds present in any sample that can be dissolved in a liquid. Compounds in trace concentrations as low as parts per trillion (ppt) can easily be identified with HPLC. These advantages have been driving the market for HPLC-based tests in food & feed mycotoxin testing. LC-MS/MS-based technology is projected to grow at the highest CAGR from 2016 to 2022.
"Europe led the market with the largest share in 2015"
Europe was the largest mycotoxin testing market in 2015. Governing organizations present in the market have enforced various mycotoxin testing policies. The Asia-Pacific region is projected to be the fastest growing market through 2022 due to the increasing food safety concerns among the consumers and growing international trade. U.K. is projected to be fastest growing country in the European region.
The breakdown of the primaries on the basis of company type, designation, and region, conducted during the research study, is as follows:
- By Company type: Tier 1 – 50%, Tier 2 – 40%, and Tier 3 – 10%
- By Designation: C Level – 40%, Manager Level – 60%
- By Region: Europe – 73%, Asia-Pacific – 18%, and North America – 9%
The key players in the mycotoxin market include:
- SGS S.A. (Switzerland)
- Bureau Veritas S.A. (France)
- Intertek Group plc (U.K.)
- Eurofins Scientific SE (Luxembourg)
- ALS Limited (Australia)
The above-mentioned companies collectively accounted for the largest portion of the mycotoxin testing market in 2015. Other players that also have a strong presence in this market are as follows:
- Microbac Laboratories Inc (U.S.)
- AsureQuality Ltd (New Zealand)
- Silliker Inc (U.S.)
- Romer Labs Diagnostic GmbH (Austria)
- Symbio Laboratories (Australia)
The report focuses on food & feed mycotoxin testing services across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments—type, technology, food tested, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analyses, recent developments, and key market strategies.
Reasons to buy the report:
The report would help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall mycotoxin testing market and the subsegments. This report will help stakeholders to better understand the competitive landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the key trends of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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