Mycotoxin Feed Testing Global Market Report 2023
Major players in the mycotoxin feed testing market are ALS Limited, AsureQuality Limited, Bureau Veritas, Eurofins Scientific SE, Intertek Group plc, Mérieux NutriSciences Corporation, SGS SA, Symbio Laboratories, Bio-Check (UK) Ltd.
New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Mycotoxin Feed Testing Global Market Report 2023" - https://www.reportlinker.com/p06479915/?utm_source=GNW
, Charm Sciences Inc., EMSL Analytical Inc., IEH Laboratories and Consulting Group LLC, Neogen Corporation, Premier Analytical Services Inc., and Romer Labs Division Holding GmbH.
The global mycotoxin feed testing market is expected to grow from $1.28 billion in 2022 to $1.37 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mycotoxin feed testing market is expected to reach $1.80 billion in 2027 at a CAGR of 7.2%.
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.
Mycotoxin feed testing refers to the process of analyzing food or feed samples for the presence and quantity of mycotoxins, which are naturally occurring toxic substances produced by fungi that can contaminate animal feed and cause health problems in livestock. The purpose of mycotoxin feed testing is to ensure the safety and quality of the feed, and ultimately, the health of the animals that consume it.
North America was the largest region in the mycotoxin feed testing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of mycotoxin feed testing are aflatoxins, alternaria, cyclopiazonic acid, citrinin, fusarium toxins, ergot alkaloids, patulin, ochratoxins, sterigmatocystin, and others.Aflatoxins are a kind of toxin generated by a fungus found on agricultural products such as maize (corn), peanuts, cottonseed, and tree nuts.
They perform testing on cereals, seeds, seed products, forage and silage, and others, and use various technologies such as chromatography, immunoassay, lateral flow assay, spectroscopy, and others. They are used by various end-users such as food and beverages, animal feed, and pharmaceuticals.
The increase in incidences of food born illness is expected to propel the growth of mycotoxin feed testing going forward.Food-born illness refers to disease or sickness that is caused by the consumption of foods or beverages that are contaminated with pathogens or microorganisms.
Food-born illnesses are increasing due to the increasing use of commercial food services, new methods of producing and distributing food, new or re-emerging infectious foodborne agents, changes in diet, and others.Mycotoxin feed testing will reduce the chances of ingesting contaminated food and hence, reduce food-borne illnesses.
For instance, in May 2022, according to the report published by the World Health Organization (WHO), a Switzerland-based government agency responsible for international public health, 600 million individuals or around one in ten people around the globe become are suffering from food-born illness and 0.42 million people die every year. Therefore, the increase in incidences of food born illness is driving the growth of the mycotoxins feed testing market.
Technological advancements are a key trend gaining popularity in the mycotoxins feed testing market.Mycotoxin feed testing refers to the process of analyzing animal feed samples for the presence and quantity of mycotoxins, they are naturally occurring toxic substances produced by fungi that can contaminate animal feed and cause health problems in livestock.
The mycotoxin feed testing kits enable users to gain more assurance and check the quality of food or feed as well as protect them from illnesses. For instance, in September 2022, Ring Biotechnology Co Ltd., a China-based biotechnology company specializing in rapid food safety testing and animal disease diagnosis, launched the new iQuanti mycotoxins quantitative rapid test kit, it is a lateral flow immunoassays-based test kit used for the detection of the five major mycotoxins in cereal such as aflatoxin B1, zearalenone, fumonisin, T2-toxin, ochratoxin and vomitoxin. It can identify the main mycotoxins in 10 minutes following a simple specimen extraction.
In January 2021, Societe Generale de Surveillance SA (SGS SA), a Switzerland-based company that provides inspection, verification, testing, and certification services acquired SYNLAB Analytics & Services, for $ 616.58 million (550 million euros). This acquisition aims to strengthen SGS SA’s global network in key strategic focus areas, SUCH AS environment, food, life sciences, and oil condition monitoring. SYNLAB International GmbH is a Germany-based laboratory and medical diagnostic services company, focused on human and veterinary testing, as well as environmental analysis.
The countries covered in the mycotoxin feed testing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The mycotoxin feed testing market research report is one of a series of new reports that 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.
Read the full report: https://www.reportlinker.com/p06479915/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001