The Europe Mycotoxin Testing Market was valued at USD 242.9 million in 2021, growing at a high CAGR of 11.3% from 2022 to 2028 to reach USD 513.9 million by 2028. Food rules are getting more stringent in Europe, and producers are being held to a higher standard, exposing various attempts to deceive customers. As a result, the European Union’s Administrative Assistance and Cooperation System – Food Fraud (AAC-FF), introduced in 2015, dedicates an IT tool that allows members of the EU Food Fraud Network to share information on non-compliances and potential intentional violations of EU Agri-food chain legislation. As a result, Europeans, particularly Italians, have a higher proclivity to pay a higher average price for items that claim to have lower mycotoxin levels, underlining the need for food safety testing. For instance, However, the lack of standardization in collecting samples and the lack of infrastructure development in emerging countries hampers the Mycotoxin Testing Market. The Mycotoxin Testing Market is surging owing to frequent acquisitions and launchings by the market players. Strategic alliances by the players such as acquisitions, mergers, expansions and new product launches may enhance the company’s growth. For instance,
In October 2020, Eurofins Scientific developed a novel method for identifying fructans in infant formulae and adult nutrition in partnership with Nestle Research (Lausanne, Switzerland). The approach has been given official standard status by the key standardization bodies, including the AOAC, ISO, CEN, and IDF.