MARKET REPORT 60 FEED & ADDITIVE MAGAZINE September 2022 forecasts in general, the reports prepared during the Covid-19 period contain lower forecasts. MARKET DRIVERS & RESTRAINTS Feed mycotoxin detoxifiers market are witnessing maximum growth owing to increasing focus on animal health, enhancing the quality of animal feeds, rising demand for hygiene & animal products safety, growing awareness among farmers for the benefits of mycotoxin detoxifiers as feed additives in livestock production. Furthermore, the weather conditions of the several countries worldwide are favorable for the expansion of the mycotoxin is driving the demand of mycotoxin detoxifiers in these regions. According to Technavio's research, one of the key factors driving growth in the feed mycotoxin detoxifiers market is the increasing consumption of animal-based products. The growth in demand for feed mycotoxin detoxifiers is partly due to the increased need for animal-based goods. For example, in 2020, Canada produced chicken and egg products worth $4.9 billion, accounting for 6.8% of agricultural revenue earnings. Also, commercial chicken and turkey meat output in Canada was 1.43 billion kilos. Furthermore, Canada sold approximately 10.9 million chicks and poults to 36 nations for a total of $40.4 million. The largest market was the United States, which accounted for 89% of exports. China, Nepal, Turkey, the United Arab Emirates, and Sri Lanka were among the other countries represented. As a result, demand is increasing. Similarly, poultry is the most developed animal feed livestock subsector in Mexico, owing to the significant demand for chicken. Thus, the increase in demand for animal-based products has led to a rise in the consumption of animal feed products, which, in turn, is fueling the demand for feed mycotoxin detoxifiers. According to the Market Research Future®, the increasing demand for protein-rich snacks is another factor supporting the feed mycotoxin detoxifiers market share growth. Players in the market are highlighting the protein content in their product offerings to convince consumers. They are also shifting the focus of their marketing strategies and projecting their offerings as healthy protein snacks. The increasing demand for protein-rich snacks among millennials and the convenience offered by meat snacks, such as on-the-go consumption, will make meat snacks a popular option among millennials. This increase in demand for meat will, in turn, have a positive impact on the feed mycotoxin detoxifiers to produce healthy meat.
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