As per the analysis, the global aflatoxicosis treatment market is expected to secure USD 279.5 million in 2023 and reach USD 407.6 million by 2033. The market is estimated to secure a CAGR of 3.8% during the forecast period. Growing instances of foodborne illness are expected to play a key role in driving the market growth during the forecast period.
As per World Health Organization, aflatoxins pose a significant economic challenge by ruining more than 25% of the world’s grain annually. Developing countries like India suffer significantly owing to the lack of storage facilities, eventually resulting in exposure to toxins like aflatoxins. According to a recent National Academy of Agricultural Sciences, India study, lack of storage facility is the most important cause of post-harvest losses for all types of food in India.
However, the market can rise with growing favorable initiatives such as the SVAMITVA scheme. The scheme digitally empowers Gram Panchayats by engaging the latest surveying technologies to digitally map and record other properties. The market is projected to witness notable development in the forecast period due to such factors.
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Increasing awareness about aflatoxins is expected to support the market growth during the forecast period. There have been various studies on the subject, which are expected to propel market growth in the coming period. Enhanced awareness about grain storage facilities is another salient factor supporting the market expansion in the coming period.
Developing countries are taking several initiatives to address the situation, a significant factor supporting industry growth in the forecast period. Also, modern grain storage facilities is estimated to further augment the market size in the coming time.
Additionally, stringent government rules on mycotoxin detection are expected to develop the industry in the forecast period. More than 100 countries have formal mycotoxin regulations for feed and food. EU has the most stringent rules, where several organizations and pan-European networks work to combat the challenges associated with the toxin.
In May 2006, in Kenya, an outbreak of acute aflatoxicosis was reported, where aflatoxin contamination of homegrown corn had become a recurring issue. In collaboration with the Kenya government, CDC worked on the trial of a portable, rapid aflatoxin screening tool that could be utilized in the field to recognize contaminated corn and suggest urgent corn replacement directions during an outbreak. Thus, owing to the factors above, the market is estimated to likely witness significant future growth.
In developing countries, a lack of advanced technologies, infrastructure, and resources is expected to impede market expansion during the forecast period. Other issues associated with the market, such as scarce resources, poor management, and limited technology, may impede market growth in the future. Furthermore, the need for more support for developing countries from organizations such as the World Health Organization, the Food and Agriculture Organization, and the World Bank is likely to aggravate the situation.
However, with the rising food trade in developing countries, the market is expected to see some growth. Furthermore, rising mycotoxin outbreaks in emerging markets such as Asia and Africa are expected to offer lucrative opportunities to the market during the forecast period.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 3.8% |
| Market Valuation (2023) | USD 279.5 million |
| Market Valuation (2033) | USD 407.6 million |
The global demand for Aflatoxicosis Treatment is slated to grow at a moderate CAGR of 3.8% during the forecast period, totaling over USD 407.6 million by 2033. Increased concerns about aflatoxins are expected to contribute to market growth.
Several studies on the subject have been conducted, and they are predicted to influence market growth in the coming years. The global demand for Aflatoxicosis Treatment grew at a moderate CAGR of 2.7% with a valuation of USD 237.1 million in 2018 and USD 271.2 million in 2022.
Enhanced awareness regarding grain storage facilities is another salient factor facilitating the market expansion in the upcoming years. Developing countries are taking various steps to deal with the situation, a large determinant supporting industry growth during the forecast period. Furthermore, modern grain storage facilities is estimated to increase market size shortly.
Furthermore, the industry is anticipated to develop during the forecast period due to stringent government regulations on mycotoxin detection. More than 100 countries currently have formal mycotoxin regulations for feed and food.
An outbreak of acute aflatoxicosis was reported in Kenya in May 2006, where aflatoxin contamination of homegrown corn had emerged as a recurring issue.
In collaboration with the Kenyan government, the CDC tested a portable, rapid aflatoxin screening tool that could be used in the field to identify contaminated corn and suggest urgent corn suitable alternative directions during an outbreak. Thus, owing to the components above, the market also experienced significant growth in the historical period.
| Countries | Market Value Share in 2023 |
|---|---|
| United States | 34.4% |
| Germany | 6.2% |
| Japan | 3.4% |
| Countries | Market CAGR Value in 2023 |
|---|---|
| China | 3.1% |
| India | 3.5% |
| United Kingdom | 3.3% |
| Australia | 2.7% |
According to the analysis, the market in the Asia Pacific is expected to develop faster and provide lucrative opportunities during the forecast period. The presence of developing countries such as India, China, and Japan has contributed to the market's growth. During the assessment period, these countries' governments impose various initiatives that can support market growth.
The Chinese government strives to ensure global food safety regulations and standards compliance. The Food Safety and Standards Authority of India (FSSAI) inspects the quality of food products in India. With the presence of such authorities in developing countries, the Asia Pacific market is likely to expand rapidly during the forecast period.
Countries like India and China are obtaining government assistance for financing and developing cutting-edge technologies. These emerging economies' regulatory bodies are using their resources to construct infrastructure and upgrade technology to create high-growth opportunities for Aflatoxicosis Treatment in Asia.
According to the analysis, the North American market is estimated to possess a 36.6% market share by 2033. The market's expansion can be due to increasing concerns about food safety and increasing awareness about toxins.
Ongoing research and development on the subject are likely to provide significant market growth opportunities. For example, Mars Inc. in the United States has launched a three-year project titled "Identification of markers and genomic regions associated with aflatoxin resistance in groundnut." This survey aims to validate the identified genes and generate diagnostic markers for molecular breeding to produce fine lines with better aflatoxin resistance.
According to a recent research report by FMI, the 'corn belt' region of the United States is estimated to likely face increased problems with aflatoxins shortly. Field corn, as opposed to sweet corn, is widely consumed in the United States and is one of the important crops, so North America is estimated to witness a huge demand for aflatoxicosis treatment in the forthcoming years.
Maize is a concern for mycotoxin contamination among staple crops; mycotoxins are regulated in Europe and several other countries worldwide, and several co-occurring fungal organisms are abundantly found. With a mandate to identify emerging risks in the food and feed sectors, the European Food Safety Authority (EFSA) has identified changing patterns in mycotoxin production in cereals due to CC as a potential source of concern.
The EU has stringent rules, and several organizations and pan-European networks cooperate in combating the toxin's challenges. Aflatoxin (AF) contamination in maize is also expected to increase due to climate change (CC).
Consequently, such factors are expected to contribute to substantial growth in the European market during the forecast period. Europe is estimated to account for around 27.6% of the global market by 2033.
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance,
Who are the Leading Players in Aflatoxicosis Treatment Market?
Some leading Aflatoxicosis Treatment manufacturers include Pfizer Inc., Sanofi, Abbott Laboratories, Zydus Cadilla, Glaxo Smith Kline, and Johnson and Johnson.
Because of the presence of regional and domestic players, the global market is highly competitive. To capitalize, leading enteral feeding device manufacturers implement a wide range of tactics such as new product launches and approvals, collaborations, partnerships, acquisitions, and strengthening of the distribution channel. As an example,
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Treatment, Region |
| Key Companies Profiled | Pfizer Inc.; Sanofi; Abbott Laboratories; Zydus Cadilla; Glaxo Smith Kline; Johnson and Johnson. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Akamai, CloudFlare, and Microsoft are the top companies in the global market.
The global market is valued at USD 279.5 million in 2023.
The adoption of Aflatoxicosis treatments could be around USD 407.6 million by 2033.
Germany dominates the region and accounted for 6.2% market share in 2022.
The United States Market contributed for roughly 34.4% of the global revenue in 2022.
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Aflatoxicosis Treatment Market
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