The market is expected to generate an incremental $ opportunity of US$ 1.1 Bn between 2022 and 2030.
Category: Food & Beverages Published Date : June 2022 ID: CVC-00138-FNB Format: PDF Pages: 315
Feed Mycotoxin Detoxifiers Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Feed Mycotoxin Detoxifiers Market was worth US$ 3.1 Bn and is expected to grow at a CAGR of 3.8% over the forecast period. The market is expected to hit US$ 4.2 Bn by 2030 end.
The presence of various mycotoxins in animal feed contaminates it, which harms animal health. The unfavorable consequences in animals could range from reproductive problems and organ damage to increased vulnerability to infectious infections.
Mycotoxin detoxifiers are employed in animal feed to protect animals from the detrimental effects. Detoxifiers are unique to each mycotoxin and must be supplied in animal feed to attenuate mycotoxin effects.
What are the causes driving the rise in demand for Feed Mycotoxin Detoxifiers?
The market for feed mycotoxins is expected to rise during the forecast period due to the growing threat of mycotoxin contamination in animal feed and increasing incidences of mycotoxin occurrences in crops.
The global mycotoxin detoxifier market is expanding due to the increase in the animal meat market. The consumption of chicken meat and animal flesh has been gradually increasing. The market has consumed more mycotoxin detoxifiers with rising worldwide meat consumption and livestock health issues.
Companies all over the world are investing extensively in the development of binders and bio-transformers that aid in the conversion of poisons into less dangerous products.
What are the opportunities in the Feed Mycotoxin Detoxifiers Market?
The increased emphasis on feed safety and animal health to fulfill rising meat consumption and strengthened feed demand is expanding the market for feed mycotoxin binders and modifiers. Another aspect giving great scope for expansion is the growing emphasis placed in these emerging markets on the quality of feed products.
Recurrent disease outbreaks in livestock can impact the use and market development of feed mycotoxin binders and modifiers, as regulatory authorities worldwide focus on feeding practices control measures to address feed and, as a result, food safety.
Increasing livestock population and government animal welfare measures are two factors that can accelerate the market revenue growth of feed mycotoxin detoxifiers over the forecast period.
What are the major challenges confronting the Feed Mycotoxin Detoxifiers Market?
Most livestock breeders do not consider mycotoxin binders and modifiers to be necessary feed additives, preferring to utilize acidifiers, mold inhibitors, and other feed preservatives to extend the shelf life of livestock feed and improve livestock health and wealth due to the belief that mycotoxin binders and modifiers contribute to the increased cost, acting as a market restraint.
As a result of COVID-19, global consumption of meat and other animal products is about to decline, while consumer desire for plant-based diets is fast increasing. Animal products free of synthetic substances are expected to expand during the forecast period. The desire for animal feed containing chemical components, such as feed mycotoxin detoxifiers, is likely to fall over the projection period.
Which product type Feed Mycotoxin Detoxifiers is expected to grow at the fastest CAGR?
Mycotoxin Binders are expected to increase at the fastest CAGR during the projected period due to their ability to inhibit mycotoxin absorption in the animal’s intestinal system by adsorbing toxins to their surface.
Why is the Poultry segment likely to grow rapidly throughout the forecast period?
Poultry will account for the highest proportion of the feed mycotoxin detoxifiers market over the forecast period. The reason for this is increased consumer preferences for poultry meat and the occurrence of aflatoxins in poultry feeds, which contaminate meals and diminish chicken body weights, among other factors.
Why is the Asia Pacific region cementing its global dominance in the Feed Mycotoxin Detoxifiers Market?
The Asia Pacific has enormous potential and shows a significant growth in terms of rising meat consumption alongside local meat production, increasing demand for quality food, growing food safety awareness, rising per capita spending on meat-related products, and expanding industrialization of the animal industry in these regions.
Why does Europe account for such a huge portion of the Feed Mycotoxin Detoxifiers market?
Europe was the largest market segment evaluated in 2020, accounting for around 43.5% of the market. The increase in the animal meat market, and hence the compound feed sector, is primarily responsible for market growth. Increased farmers’ awareness of the benefits of mycotoxin detoxifiers is another element contributing to the market’s rise.
The market for feed mycotoxin detoxifiers is consolidated. The market’s major players control a sizable portion of the total market. Because of their global presence and the lack of indigenous enterprises in a few regions, the top players have a larger market share.
Some of the key developments that have taken place in the Feed Mycotoxin Detoxifiers Market include:
A list of some of the critical suppliers present in the market are:
Market Segments Covered in Report
By Animal Type:
By Product Type:
By Region and Country:
Global Feed Mycotoxin Detoxifiers Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Animal Type, Product Type, End-User, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|