New York, US, May 25, 2022 (GLOBE NEWSWIRE) -- Feed Mycotoxin Detoxifiers Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Feed Mycotoxin Detoxifiers Market Information by Type, Animal Type, and Region - Forecast till 2030”, the market is estimated to grow at a 3.50% CAGR to reach USD 3.26 Billion by 2030.
Market Scope:
Mycotoxin Detoxification refers to chemicals or mixes of substances that are added into a feed matrix to limit an animal's exposure to known mycotoxins and thereby their toxicity. These compounds may inhibit gastrointestinal absorption, decrease bioavailability, promote excretion, or change the mode of action of mycotoxins. They can also affect the performance of these animals. To protect these animals from these detrimental effects, mycotoxin detoxifiers are utilized in animal feed. They are unique to each mycotoxin and must be introduced to animal feed to combat mycotoxins' detrimental effects.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 3.26 Billion |
| CAGR | 3.50% (2021–2030) |
| Base Year | 2020 |
| Forecast Period | 2021-2030 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Source, Type, Application and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Rise in incidences of mycotoxin occurrence in livestock |
| Rising demand from poultry and aquafeed sectors |
Competitive Dynamics:
Some of the prominent players in the global feed mycotoxin detoxifiers market include
- Cargill (US)
- BASF (Germany)
- ADM (US)
- Bayer (Germany)
- Perstorp (Sweden)
- Chr. Hansen (Denmark)
- Kemin (US)
- Nutreco (Netherlands)
- Adisseo (France)
- Alltech (US)
- Novus International (US)
- Biomin (Austria)
- Impextraco (Belgium)
- Norel (Spain)
- Global Nutritech (Turkey)
Market USPs Covered:
Market Drivers:
The increase of the animal meat market and the following expansion of the compound feed sector are primarily responsible for market growth. Another element contributing to the market's growth is increased farmer awareness of the benefits of mycotoxin detoxifiers. Thus, the worldwide feed mycotoxin detoxifiers market is expected to be driven by increasing demand from livestock producers to improve the health and wealth of their animals and to create maximum livestock performance. Poultry and aqua feed sector raising in feedlots might be regarded a significant growth area for the feed mycotoxin detoxifiers market due to large-scale farming. Furthermore, demand for poultry meat is predicted to continue to climb as a result of population growth and rising individual consumption. The market for poultry meat is predicted to rise dramatically over the projection period, regardless of area or economic level. Furthermore, ongoing feed safety concerns due to the presence of mycotoxin, increased focus on livestock feed decontamination, and better enzymatic deactivation technology are some of the factors that could drive demand for feed mycotoxin detoxifiers over the projection period.
Market constraints: Most livestock farmers do not take into account mycotoxin binders and modifiers to be essential feed additives, preferring instead to use other feed additives like mold inhibitors, acidifiers, and other feed preservatives to extend the shelf life of livestock feed and improve livestock health and wealth.
Browse In-depth Market Research Report (120 Pages) on Feed Mycotoxin Detoxifiers: https://www.marketresearchfuture.com/reports/feed-mycotoxin-detoxifiers-market-10818
COVID-19 Evaluation:
COVID-19's impact on the food supply system, notably cattle output, was unexpected, despite decades of pandemic modeling predicting various results. Clusters of infections among meat-processing workers soon expanded throughout multiple countries, posing a threat to human, animal, and environmental health. In processing factories, the focus of hygiene is on product quality and food safety. Due to disturbances in the worldwide supply chain, COVID-19 has had a severe influence on overall chemical manufacturing, particularly Feed Mycotoxin Detoxifiers. This is due to the global quarantine and travel restrictions established to stop the coronavirus from spreading. The epidemic has impacted the cattle feed industry, restricting the manufacture of mycotoxin detoxifiers for feed. Because feed mycotoxin detoxifiers are utilized in a wide range of species, including livestock, horses, companion animals, and others, a reduction in their use has a direct impact on the feed mycotoxin detoxifiers market's growth.
Market Segmentation:
By Type
The binders category is expected to develop at the quickest CAGR throughout the projected period, owing to the ability of binders to inhibit mycotoxin absorption by adsorbing toxins to their surface.
By Animal type
The farm animals segment is expected to hold the largest share of the feed mycotoxin detoxifiers market over the forecast period, owing to rising consumer preferences for poultry meat and the high presence of aflatoxins in poultry feeds, which contaminate feeds and reduce chicken body weights, among other factors.
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Regional Analysis:
North America has the greatest market share and is predicted to continue to grow at a rapid pace. This is mostly due to rising demand for safe and high-quality livestock-based products, increased food safety awareness, and strict quality rules aimed at reducing, preventing, and eliminating mycotoxin contamination in the food chain. Furthermore, factors such as poor meteorological conditions and increasing crop contamination due to mycotoxins are pushing demand in the region.
In the global market, Europe had the second greatest market share. This is owing to the abundance of raw materials, strict rules, and strong demand for crop and livestock productivity. Because of the readily available raw ingredients and great efficiency.
Asia-Pacific, on the other hand, is expected to develop at the quickest rate in the global market throughout the projection period. This is attributable to rising meat consumption and local meat production, rising demand for quality food, rising food safety awareness, rising per capita spending on meat-related products, and expanding animal sector industrialization in these regions.
Due to a constant supply of raw materials, the Middle East and Africa are likely to grow profitably. As a result of increased livestock and crop production. Furthermore, due to rising demand for supplements in livestock and rising consumption of meat and meat products, the Latin American market is likely to generate considerable development possibilities throughout the forecast period.
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