mysqldump―output details
mysqldump is capable of dumping in three ways

SQL
CSV
XML

SQL
The standard format has directives in addition to regular table creation and INSERTs
The paradigm is always the same

CREATE TABLE
DISABLE KEYS
LOCK TABLE
INSERT INTO ...
INSERT INTO ...
...
INSERT INTO ...
UNLOCK TABLES
ENABLE KEYS

Even with the characters you are coding and delimiting around, please consider mysqldump also processes TEXT, BLOB, BINARY, and VARBINARY fields. Unless you remember to use the --hex-blob option, you could find your delimiter processing somewhat flimsy in the presence of those datatypes.
Another aspect to deal with is if you make each row a separate INSERT using --skip-extended-insert, thus increasing the amount of delimiters to parse and count.
CSV
You could export data in CSV format. You could even set the options for delimiting.

lines-terminated-by
fields-terminated-by
fields-enclosed-by
fields-optionally-enclosed-by
fields-escaped-by

This would eliminate the need to guessing the delimiters by presetting them.
XML
If you export the data as XML (using --xml), the anatomy of the dump may still be subject to the  issues around TEXT, BLOB, BINARY, and VARBINARY fields.
EPILOGUE
If you need to examine how data is batched by mysqldump, see my post How we take dump with batch of records option?
MySQL (eh, Oracle) has basically left it to the discretion of the Community Users to parse mysqldumps. Using --hex-blob has probably saved many developer headaches in order to simplify text processing of mysqldumps. This would relieve MySQL of having to document mysqldump output characteristics.
As for your utility you are coding, you are either going to see strings delimited or hex encoded. No need to sweat details past these two possibilities.
I just thought of something else: doing mysqldump from Linux vs. Windows. Keep in mind that whichever OS platform you use to run mysqldump. code for that platform only. Otherwise, you may need two little programs, one for Linux and one for Windows. (I won't mention MacOS at this point)