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Description
Mycotoxin Testing Market size was valued at USD 1,252.8 million in 2021, It is growing at a CAGR of 7.4% from 2022 to 2028. The global market provides a detailed overview of the global mycotoxin testing market, and that can be segmented by type, technology, and food tested. By type, the global mycotoxin testing market has been segmented into Aflatoxins, Ochratoxin A, Patulin, and Fusarium Toxins. The Aflatoxins segment is likely to be the largest and fastest-growing segment in terms of type. Aflatoxin is the most widely tested toxin for various applications. It is produced by fungi named Aspergillus flavus and Aspergillus parasiticus. Based on technology, the global mycotoxin testing market is segmented into HPLC-Based, LC-MS/MS-Based, and Immunoassay-Based. Among these, the LC-MS/MS-Based segment is expected to have the fastest-growing market during the forecast period 2022-2028. It is attributed to accurate and faster results than the traditional market. Based on the food tested, the segment has been segregated into Feed and Food. The food segment is expected to dominate other segments in the global mycotoxin testing market. It is due to the increasing prevalence of mycotoxin in cereals, grains and pulses. The feed segment is expected to witness the highest CAGR during the forecast period according to precision business insights. The implementation of stringent regulations related to mycotoxin testing of animal feed and food is the major driver for the global market growth due to testing is mandatory by law. Moreover, rising need for food safety and increasing awareness about safety related laws and consequences are boosting the global mycotoxin testing market at a significant rate in the forecasted years. However, lack of technology and infrastructure may hamper the global market growth.
Key Developments:
In Aug 2021, PerkinElmer launched a new-and-improved mycotoxin detection system to help pet food manufacturers, grain processors, feed mills and contract labs handle mycotoxin samples more accurately and efficiently.
