The Global Mycotoxin Testing Market was worth USD 1.09 billion in 2016, and is expected to grow at a CAGR of 6.1%, to reach USD 1.47 billion by 2021.
Hyderabad, India -- (SBWIRE) -- 03/17/2018 -- The mycotoxin testing ensures that the merchandise is carcinogenic-free and complies with the International regulation standards. The mycotoxins are harmful chemical compounds created by a fungus, which may cause numerous illnesses and even death. Cereals and grains are the merchandise that gets affected by the fungus in the time of storage. Therefore, the mycotoxin testing becomes necessary for such products, to eliminate the danger of health hazards.
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The Global mycotoxin Testing Market was valued at USD 1.09 billion in 2016 and is anticipated to grow at a CAGR of 6.1%, to achieve USD 1.47 billion by 2021. The increasing Food and Beverage trade that necessitates a larger storage time and shelf life is the main reason behind the growth of the Mycotoxin Testing Market.
With the rising population of the world, the demand for food is escalating, which as a result makes it necessary to focus a lot of on mycotoxin testing. Aside from growing necessity for food safety, this market is driven by humid environmental conditions that are resulting in mycotoxins productions in food products, particularly canned and stored merchandise like cakes and cookies.
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The enhanced trade of cereal, grains, nuts and processed grain merchandise has accelerated the demand for food storage, which may cause harmful mycotoxin generation in the merchandise, further, the demand for mycotoxin testing market, to satisfy the safer limit of mycotoxin in the products for international trade, has been increasing. The growing organic food demand and strict food safety rules are the numerous factors driving the market.
Europe leads the mycotoxin testing market with the introduction of many mycotoxin testing policies and schemes by the local governments. The Asia Pacific is anticipated to be the quickest growing region because of growing food safety concerns in countries like India and China in this region.
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The leading companies in the current market include Bureau Veritas S.A, Symbio Laboratories, Romer Labs Diagnostic GmbH, Eurofins Scientific SE, Asurequality Ltd., ALS Ltd, Microbac Laboratories Inc., Intertek Group PLC., Silliker Inc., and SGS S.A.
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