The global feed mycotoxin detoxifiers market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of
5.18% during 2023-2028.
Feed mycotoxin detoxifiers refer to various additives that are added to animal feed to convert the toxins into less toxic products. They act as bio-transforming agents to prevent the contamination of feed by mycotoxins that can negatively impact animal health, leading to problems related to reproduction, performance, or organ damage, such as liver and kidney. In recent years, feed mycotoxin detoxifiers have gained traction among farmers as they help protect animals against numerous diseases and promote proper growth in livestock.
Feed Mycotoxin Detoxifiers Market Trends:
The expanding compound feed industry and the rising consumption of animal-based products, such as dairy, eggs and meat, represent the primary factors driving the market growth. Additionally, there has been a significant increase in the prevalence of mycotoxins in animal feed crops like maize due to unfavorable weather conditions. This, in confluence with the growing awareness regarding the benefits of feed mycotoxin detoxifiers among the farmers, is augmenting the product demand. Besides this, the escalating consumer demand for high-quality food and the shifting focus toward animal health are accelerating the adoption of mycotoxin detoxifiers in animal fodder. Moreover, the implementation of advanced animal husbandry practices to enhance meat quality and the rising livestock population are propelling the market growth. Furthermore, the leading manufacturers are making heavy investments in research and development (R&D) activities to introduce nutritious feed additives and expand their product portfolio. Other factors, including the growing concerns regarding food safety, easy availability of raw materials, inflating consumer disposable incomes, and favorable government initiatives, are also creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global feed mycotoxin detoxifiers market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, animal type and end user.
Breakup by Type:
Breakup by Animal Type:
Breakup by End User:
- Feed Manufacturers
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Adiveter S L, Alltech Inc., Amino Pharma, Amlan International, Bluestar Adisseo Company, Cenzone Tech Inc., Impextraco N.V., Kemin Industries Inc., Koninklijke DSM N.V., Nutrex, Olmix Group, Perstorp Holding AB and Special Nutrients.
|Base Year of the Analysis
||Type, Animal Type, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Adiveter S L, Alltech Inc., Amino Pharma, Amlan International, Bluestar Adisseo Company, Cenzone Tech Inc., Impextraco N.V., Kemin Industries Inc., Koninklijke DSM N.V., Nutrex, Olmix Group, Perstorp Holding AB and Special Nutrients
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Key Questions Answered in This Report:
- How has the global feed mycotoxin detoxifiers market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global feed mycotoxin detoxifiers market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the animal type?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global feed mycotoxin detoxifiers market and who are the key players?
- What is the degree of competition in the industry?