The Worldwide Mycotoxin Testing Industry is Expected to Reach $1.3 Billion by 2025

Date of publication : 2/26/2021
Source : https://www.prnewswire.com/news-releases/the-worldwide-mycotoxin-testing-industry-is-expected-to-reach-1-3-billion-by-2025--3012

COVID-19 has led to a drastic shift in consumer demand away from restaurants, foodservice and other types of "food away from home" towards food consumed at home, requiring important changes in the way food supply chains operate. As the COVID-19 pandemic gathered pace, sales of "food away from home" (consumed in hotels, restaurants, catering and cafes) collapsed.

COVID-19 has led to disruptions in food processing industries, which have been affected by rules on social distancing, by labour shortages due to movement restrictions, and by lockdown measures to contain the spread of the virus. and the other measures taken by the regional governments, thereby limiting the number of people who can work together in small areas. Thus, the decline in 2020 in the mycotoxin testing market growth is mainly due to the impact of COVID-19 pandemic. However, as these restrictions relax, and as certification requirements on products gain more attention via consumers, the market for mycotoxin testing would witness a significant growth in the next five years.

 

Cereals, grains, and pulses: The largest-growing segment of the mycotoxin testing market, by sample market

Based on sample, the mycotoxin testing market is segmented into food and feed. Among food samples tested, cereals, grains, and pulses recorded the highest CAGR, due to a greater level of contamination with various mycotoxins. Cereals, grains, and pulses are more susceptible to the co-occurrence of mycotoxins, thereby leading to an increased demand for testing, as they are used in various products for food processing.

By type, the aflatoxin segment is projected to witness the highest growth during the forecast period.

 

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