The global Mycotoxin Testing Market is estimated to be valued at USD 931.6 Million in 2020 and is projected to reach USD 1,568.4 Million by 2028, at a CAGR of 6.7%. A mycotoxin is the generic name of substances that are secondary metabolites of molds and cause chronic physiological or pathological damage to humans, domestic animals, or fish. Food that has mycotoxin levels above a particular maximum allowable level is either rejected outright for sale or sold at a lower price for different use. Such transactions can take place at local levels or at the level of trade among countries. Sometimes this can result in substantial economic losses for food producers, but the benefit of such monitoring systems. Losses related to health occur when mycotoxins are present in food at levels that can cause illness. In developed countries, such losses are often measured in terms of cost of disease; around the world, such losses are more frequently measured in terms of disability-adjusted life years (DALYs). Therefore mycotoxin testing is promoted in the global market by the government and international organizations to reduce illness and economic losses caused by it.
The principal factor that is driving the mycotoxin testing market is the stringent food safety regulations that have been executed by several countries. The increase in the production of the mycotoxins in the food and feed products is due to the humid atmospheric conditions. The other factors that add to the extension of the mycotoxin testing market are consumer complaints, incremented international trade, and growing health concern among consumers.
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The need for fusarium toxins is the maximum in the global business. Fusarium toxin is generally found in cereals and their by-products. The factors that are increasing the demand of the Fusarium toxin market are rise in the commodities trade and the contamination in grain due to changing climatic conditions. Climate change may alter human exposure to mycotoxins. The physical changes in temperature- warm or cold, wind, and increase or decrease in moisture caused by climate change will affect the allocation of mycotoxins in complex ways.
Covid-19 Impact Analysis:
The research report on mycotoxin testing has an initial and future assessment of the Covid-19 impact and the rapidly changing market scenario. The food supply chain is a complex web that involves consumers, producers, fishery inputs and agricultural, processing and storage, transportation and marketing among others. As the virus spreads and cases mount, and measures tighten to curb the spread of the virus is rising at a faster pace. Similarly, it is also critical that food producers and food workers at processing and retail level are protected to minimize the spread of the disease within this sector and maintain food supply chains which can have a positive impact on the food testing market.
Further key findings from the report suggest
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Segments covered in the report:
This mycotoxin testing report forecasts revenue growth at a global, regional & country level, and provides an analysis of the mycotoxin testing market trends in each of the sub-segments from 2020 to 2028. For the purpose of this study, Reports and Data have segmented Mycotoxin Testing market on the basis of sample, application, type and region:
On the basis of Type, mycotoxin testing the market has been segmented as follows: (Revenue, USD Million; 2020-2028)
On the basis of sample, the mycotoxin testing market has been segmented as follows: (Revenue, USD Million; 2020-2028)
On the basis of Technology, the mycotoxin testing market has been segmented as follows: (Revenue, USD Million; 2020-2028)
Regional Outlook (Revenue, USD Million; 2020-2028)
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Key highlights of the Global Mycotoxin Testing Market Report:
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