Asia-Pacific Mycotoxin Testing Market, By Type (Aflatoxins, Ochratoxins, Fusarium Toxins, Deoxynivalenol, Patulin, Penicillium Toxins, Cyclopiazonic Acid, Ergot Alkaloids, Citrinin, Sterigmatocystin, Alternaria, T-2 Toxin, Others), Product Type (Devices, Reagents & Kits, Services), Technology (Chromatography Based, Immunoassay-Based, Lateral Flow Assay Based, Spectroscopy Based, Others), Sample (Food & beverages, Feed, Pharmaceuticals), End User (Research Lab, Research Institutes, Food Testing Industries, Feed Testing Industries, Other), Country (China, Japan, India, South Korea, Australia, Singapore, Thailand, Indonesia, Malaysia, Philippines and Rest of Asia-Pacific) Industry Trends & Forecast to 2027
Market Analysis and Insights: Asia-Pacific Mycotoxin Testing Market
Mycotoxin testing market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 8.0% in the forecast period of 2020 to 2027 and is expected to reach USD 337,591.91 thousand in 2027. The growing cases of food spoilage across China and other Asian countries and strict government regulations established to test the packaged food have led the utilization of mycotoxin tests.
Mycotoxins are the metabolites of fungi and leads to the spoilage of food and causes harmful effect if the product is being consumed. Various analytical procedures are used to identify the toxicity of fungi such as chromatography techniques HPLC, LC chromatography and immunological tests. The major cause of the mycotoxins is poor production process of food products, climate issues, humidity among others. According to International Agency for Research on Cancer (IARC), aflatoxins are the most dangerous and food causing mycotoxin which has been studied in research purposes with the carcinogenic issues in human.
The consumer awareness regarding presence of mycotoxins is necessary and it is well known driving factor for the mycotoxin testing market. The lack of food control infrastructure and instrumentation in emerging countries many hinder the mycotoxin testing market.
The digitalization in the testing and analysis provides opportunities to the mycotoxin testing market. The higher cost optimization for laboratories maintenance is considered as one of the challenge for the mycotoxin testing market.
The mycotoxin testing market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the mycotoxin testing market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Mycotoxin Testing Market Scope and Market Size
Mycotoxin testing market is segmented on the basis of type, product type, technology, sample and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the mycotoxin testing market is segmented into aflatoxins, ochratoxins, fusarium toxins, deoxynivalenol, patulin, cyclopiazonic acid, ergot alkaloids, citrinin, sterigmatocystin, alternaria, T-2 toxin, zearalenone, others. In 2020, alfatoxins comprised the highest market share as major of the food poisoning and spoilage caused due to Aspergillus fungi and alfatoxins are one of the major leading caused by the main food spoilage causing fungi.
- On the basis of product type, the mycotoxin testing market is segmented into devices, reagents & kits, and services. In 2020, reagents & kits have comprised the highest market share due to the utilization of the kits and strips across all laboratory procedures and innovation with the rapid test kits have leading their growth across Asian and worldwide.
- On the basis of technology, the mycotoxin testing market is segmented into chromatography based, immunoassay-based, lateral flow assay based, spectroscopy based, and others. In 2020, chromatography based segment holds the largest market share as the services involved in the mycotoxin testing provides efficient testing with HPLC and LC chromatography and their accuracy with respect to the content detection in analytical procedures have led their dominance in mycotoxin testing.
- Based on sample, the mycotoxin testing market is segmented into food & beverages, feed, and pharmaceuticals. In 2020, food & beverages segment comprised the highest market share as mycotoxin majorly causes spoilage to food products especially maize and cereals.
- On the basis of end user, the mycotoxin testing market is segmented into research lab, research institutes, food testing industries, feed testing industries and other. In 2020, food testing industries have comprised the highest market share as texting services are majorly opt by food industry due to the strict government guidelines and framework before commercialization of the food products have led their dominance in the market.
Asia-Pacific Mycotoxin Testing Market Country Level Analysis
The Asia-Pacific mycotoxin testing market is analysed and market size information is provided by country, type, product type, technology, sample and end user as referenced above.
The countries covered in the Asia-Pacific mycotoxin testing market report are the China, Japan, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific.
Asia-Pacific region is growing with the highest CAGR due to the establishment of the guidelines and rising concern towards food safety and regulations.
- In Asia-pacific mycotoxin testing market, China has the highest market share due to the wide consumption of food products and concentration of key players and have comprised the highest market share as it has been observed that China has highest range of mycotoxin in their food and feed products and their engagement in the development of the techniques has made their strong presence in Asian region. Japan has the second highest market share owing to moldy grain intoxications in Japan, where disease in both farm animals and human beings has been attributed to fusarium mycotoxicoses which is regularly found on crops such as oats, barley, rye, and wheat which is creating demand for mycotoxin testing. India is also expected to have significant share since India is predominantly an agrarian country and more than seventy percent of the total production of foodgrains is retained at farm level where the faulty and unscientific storage conditions increases the risk of fungal attack and also mycotoxin production which is creating demand for mycotoxin testing.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Technological Advancements for Rapid Testing and Detection is creating New Opportunities for Players in the Mycotoxin Testing Market
Asia-Pacific mycotoxin testing market also provides you with detailed market analysis for every country growth in particular industry with mycotoxin testing sales, impact of advancement in the mycotoxin testing and changes in regulatory scenarios with their support for the mycotoxin testing market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Mycotoxin Testing Market Share Analysis
Asia-Pacific mycotoxin testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to mycotoxin testing market.
The major players covered in the Asia-Pacific mycotoxin testing market report are Bureaus Veritas, Symbio Laboratories, Intertek Group plc, Eurofins Scientific, NEOGEN Corporation., LGC Limited (A SUBSIDIARY OF KOHLBERG KRAVIS ROBERTS & CO. L.P.), EnviroLogix, TÜV SÜD, VICAM, A Waters Business, SGS SA, Fera Science Limited (A Subsidiary Of Capita plc.), SYNLAB International GmbH, AB SciexPte. Ltd., R-Biopharm AG, R J Hill Laboratories Limited, Japan Food Research Laboratories, BioMérieux NutriSciences, QIMA, Certified Laboratories, Romer Labs Division Holding GmbH, AsureQuality among other domestic and Asia-Pacific players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the Asia-Pacific mycotoxin testing market.
- In June 2020, AsureQuality launched a new brand for the food assurance services aiming towards the high level of personal commitment to the customer. The launch of this brand is going to enhance the global position of the company generating more income along with profit for the company
- In April 2017, Symbio Laboratories acquired Enviro-Check Enterprises Pty Ltd which was a testing service. The acquisition has expanded the business portfolio for the company along with profit generation
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the mycotoxin testing market which also provides the benefit for organisation to improve their offering for mycotoxin testing.