Feed Mycotoxin Detoxifiers Market, Future Outlook, Growth Prospects and Business Statistics 2023-2030

 

Feed Mycotoxin Detoxifiers Market size is projected to be worth USD 3.26 Billion by 2030, registering a CAGR of 3.50% during the forecast period (2021–2030).

The feed mycotoxin detoxifiers market is driving owing to growing demand to improve the health and wealth of livestock and to produce maximum livestock performance by livestock farmers. Over 500 mycotoxin strains have been reported globally, including aflatoxins (B1, B2, G1, G2, and M1), ochratoxin A, deoxynivalenol, and fumonisins, which are the most common mycotoxins found in livestock feed. Further, poultry and aqua feed sector rearing in feedlots can be considered a significant growth sector for the feed mycotoxin detoxifiers market. Further, due to population growth and rising individual consumption, the demand for poultry meat is expected to continue to rise. However, the presence of potential substitutes and the rising inclination of livestock farmers toward substitutes is hampering the growth of the market. Substitutes include feed additives such as mould inhibitors, acidifiers, and other feed preservatives.

Covid Analysis

COVID-19 has had a negative impact on overall chemical production owing to disruptions in the global supply chain. This is due to the global lockdown and travel restrictions imposed to limit the spread of the coronavirus. Clusters of cases among workers in meat processing plants spread quickly across several countries, affecting human, animal, and environmental welfare. The focus of hygiene in processing plants is on product quality and food safety. Many processing plants in the United States (US) shut down when major outbreaks were discovered, putting pressure on the pig and poultry industries in particular. This resulted in longer transport distances to plants with increased capacity, as well as overcrowding of farm animals. Producers were encouraged to slow their growth rates, but some were forced to cull animals on the farm in ways that likely included suffering and upset owners and workers. Furthermore, the procurement of raw materials was a major impediment, as the majority of raw material suppliers in the market were forced to close their operations due to the outbreak of COVID-19. The closure of several raw material producers and Feed Mycotoxin Detoxifiers manufacturers has resulted in a drop in global consumption. Furthermore, the imposition of various fiscal and monetary policies by governments and management around the world to limit the damage caused by COVID-19 is expected to result in some relief.

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Competitive Landscape

The global Feed Mycotoxin Detoxifiers market is cosnolidated with prominent players accounting for majority of the market share. 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), and Global Nutritech (Turkey). Manufacturers seek to gain a competitive advantage over other players by expanding production facilities, acquiring, forming joint ventures, and forming partnerships with key stakeholders. Furthermore, in order to gain the largest share of the global market, producers are increasingly focusing on strategic alliances with stakeholders, new product development, and capacity expansion.

Segmentation

By Type

• This segment is further segmented into binders and modifiers.
• Mycotoxin binders are chemical compounds that bind to mycotoxins and prevent them from being absorbed into the body. Activated charcoal, calcium hydroxide phosphate, bentonite clay, citrus pectin (derived from orange peels), chitosan (derived from shrimp shells), and zeolite powder are the most common types of binder used for this purpose (which comes in various forms but can be effective against a wide range of toxins). These compounds work by attaching to mycotoxins, making it easier for our bodies to excrete these foreign substances.
• A mycotoxin modifier is the administration of specific enzymes to detoxify or change a harmful metabolite into an inactive form. The enzyme can be given as a product, such as phytase-containing feed additives, for which this mechanism has been described in the scientific literature. These enzymes can also be found naturally in many animals and plants, where their catalytic nature allows them to facilitate chemical reactions that would otherwise be impossible.

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By Animal type

• This segment is further segmented into farm animals, pet, aquatic animals, and zoo animals.
• The pet food industry has exploded in recent years as people’s love for pets has grown. Because of the increased focus on higher-quality diets with more meat than ever before, which leads to an increase in mycotoxin consumption.
• Due to the complex biomatrix present in this environment, detoxification of mycotoxins in aquatic animals is usually very difficult. Some feed additives, on the other hand, have been reported to suppress or even completely remove mycotoxin contamination from fish feeds without affecting growth or health.
• There is a link between mycotoxin exposure and chronic diseases in zoo animals. Feeding them detoxifiers can lower their risk of developing health problems as a result of high toxicity levels in their diet.
• Mycotoxin exposure can have an impact on farm animal performance and productivity. When an animal ingests mycotoxins from feed or water sources, it may experience slower growth and lower milk yields. In these cases, using a Feed Mycotoxin Detoxifiers Market Trends will result in improved animal health as well as increased production numbers.

By Region

• North America: North America accounted for the largest market share in the global market due to the increase in demand for safe and high-quality livestock-based products, food safety awareness, and stringent quality regulations.
• Europe: Europe recorded stagnant growth in the global market owing to the ease of availability of raw materials, stringent regulations, and high demand for crop and livestock yield.
• Asia-Pacific: Asia-Pacific is expected to grow at the fastest rate in the market. This is due to the rising meat consumption along with the production of local meat, increasing demand for quality food, growing awareness towards food safety, increasing per capita spending on meat-related products, and expanding industrialization of the animal industry in these regions.
• Latin America: Latin American market is expected to provide significant growth opportunities due to the rising demand for supplements in livestock and increasing consumption of meat & meat products.
• Middle East & Africa: Middle East and Africa are expected to grow profitably due to a steady supply of raw materials.

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