Pune, India, Feb. 27, 2023 (GLOBE NEWSWIRE) -- As global livestock production increases, the demand for higher quality animal feed will also rise, leading to significant growth in the global Mycotoxin Detoxifiers Market. The Food and Agriculture Organization (FAO) reports that nearly 1.3 billion people depend on livestock for food security and livestock contributes to almost 40% of global agricultural production, with approximately 80% of agricultural land dedicated to livestock feed production. The FAO also projects that the global livestock population will increase from 1.5 billion to 2.6 billion by 2050, further expanding the mycotoxin detoxifiers market during the forecast period.
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Report Scope of Mycotoxin Detoxifiers Market:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Base Year | 2021 |
| Historical Data for | 2018 to 2020 |
Key Takeaways:
- The Biomin World Mycotoxin Survey Report 2018 reported that the average concentration of fumonisins in Argentina increased from 2,800 ppb in 2017 to 4,762 ppb in 2018.
- Mycotoxin detoxifiers find application in the manufacturing of animal feed, aquaculture industries, poultry, farming, and other related sectors.
- In the forecast period, Europe is expected to maintain its dominance in the global mycotoxin detoxifiers market.
What does the Report Offer?
The report by Fortune Business Insights provides a detailed analysis of the factors that are expected to impact the market during the forecast period, along with an evaluation of the regional and competitive trends and dynamics that will shape the market until 2026.
The report on the mycotoxin detoxifiers market offers comprehensive insights into various aspects such as emerging revenue pockets, market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, and technological innovations.
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Drivers & Restraints-
Rising Concerns about Contaminated Animal Feed to Drive the Market
The World Health Organization (WHO) defines mycotoxins as toxins that naturally occur in certain fungi (moulds). They can occur before or after harvest and can survive food processing. Some of the commonly found mycotoxins that can harm human and livestock health include fumonisins, nivalenol/deoxynivalenol, aflatoxins, and zearalenone. The global mycotoxin detoxifiers market is set to gain from the persistent contamination that affects livestock feed regularly. For instance, according to a study published by the National Institutes of Health in the US, 25% of harvested crops in the world are polluted by mycotoxins every year, causing huge agricultural losses worth billions of dollars. The study also finds that aflatoxins are the most toxic, leading to huge losses in the US and the European Union. The negative economic impact that mycotoxins can have will prove to be major factor in enhancing the global market potential in the near future.
The market is expected to be driven by the rising demand for meat, with the FAO projecting a 30% increase in meat consumption by 2030 and a 200% increase by 2050 in low and middle income countries. To meet this demand, there will be a corresponding increase in the domestication and production of livestock, leading to an increase in livestock feed production. This, in turn, will result in a surge in demand for mycotoxin detoxifiers, driving growth in the global market.
Segments-
| Mycotoxin Detoxifiers Market Segmentations | By Product Type
|
By Animal Type
| |
By Distribution Channel
|
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REGIONAL INSIGHTS
The market in Europe is expected to receive a boost from active governmental support.
Europe is expected to dominate the global market due to favorable regulatory support for new products. One example is the clearance granted by the European Food Safety Authority in 2016 to Biomin BBSH 797, a mycotoxin bio-transforming additive. The Asia-Pacific and North American regions are also expected to grow significantly due to the increasing livestock population and rising meat consumption.
Competitive Landscape-
Market competition is set to intensify as a result of increasing research and development activities.
To gain a competitive advantage, major players in the global mycotoxin detoxifiers market are investing more in research and development. For instance, Alltech's Alltech 37+ Laboratory was upgraded in September 2019 to enable testing of several new and emerging mycotoxins. Additionally, some companies are introducing innovative diagnostic products, such as Romer Labs' AgraQuant, an ELISA test kit for detecting Aflatoxin M1.
List of Key Players Profiled in the Global Mycotoxin Detoxifiers Market:
- Neovia
- Nutriad
- Biomin
- Micron Bio-Systems
- Olmix Group
- Alltech
- Special Nutrients LLC
- Impextraco NV
FAQ:
Which are the major countries driving demand for Feed Mycotoxin Detoxifiers Market?
The major countries driving demand for Feed Market are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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