MARKET REPORT FEED & ADDITIVE MAGAZINE September 2022 61 However, the growing consumer inclination towards a vegan lifestyle will be a major challenge for the feed mycotoxin detoxifiers market during the forecast period. Vegan food is considered a healthy diet option. Vegan foods comprise plant-based food products that are made from fruits and vegetables. They omit dairy, meat, and egg products. Hence, the requirement for meat and animal-based products will decrease to meet the growing demand for the vegan population. Also, according to the Future Market Insights, harmful environmental effect with the use of inorganic absorbents, requirement for precise inactivators for each mycotoxin, and limited techniques to analyze the prevalence of mycotoxin & eliminate them safely among producers may hamper the growth of feed mycotoxin detoxifiers market in near future. MARKET STATUS BASED BY TYPE Based on type, the global feed mycotoxin detoxifier market is segmented into mycotoxin binders, clays, bentonite, mycotoxin, modifiers, yeasts, enzymes, and others. According to the report of Market Research Future®, the binders category is expected to develop at the quickest CAGR throughout the 2021-2030 period, owing to the ability of binders to inhibit mycotoxin absorption by adsorbing toxins to their surface. Market Data Forecast also makes a similar determination in its report. According to the report in question, the binders segment is going to dominate the global mycotoxin detoxifier market during the forecast period as binders are highly capable in reducing the bioavailability of the mycotoxin and most effective agent in avoiding the contamination of feed caused by mycotoxins. The binders detoxifier agent helps in preventing the animal intestinal tract from the absorption of mycotoxin through adsorbing toxins into their surface. MARKET STATUS BASED BY LIVESTOCK TYPE Based on livestock, the global feed mycotoxin detoxifier market is segmented into poultry, ruminants, swine, aquaculture, pets, and other animals. According to Market Research Future®, the farm animals segment is expected to hold the largest share of the feed mycotoxin detoxifiers market over the forecast period, owing to rising consumer preferences for poultry meat and the high presence of aflatoxins in poultry feeds, which contaminate feeds and reduce chicken body weights, among other factors. Market Data Forecast also makes a similar forecast in its report. According to the report, poultry segment is going to boost the market size due increasing demand of eggs and poultry meat by the rising population. So mycotoxin detoxifiers are highly preferable for poultry feed in order to reduce the chance of diseases in poultry animals. Moreover, the rising concern towards the protein rich food is also driving the growth of the market. The high preferences of the aflatoxins in poultry feeds that contaminate feeds and reduce chicken’s body weight are some of factors that boost the demand for feed mycotoxin detoxifiers in the coming years. MARKET STATUS ON REGIONAL BASIS North America and Europe are prominent regions in the feed detoxifiers market. According to the report of Technavio, 29% of the market's growth will originate from North America during the 20222026 forecast period. The US is the key market for feed mycotoxin detoxifiers in North America. Market growth in this region will be slower than the growth of the market in the European, South American, and MEA regions. The rising demand for animal products, which has prompted considerable adjustments on the supply side, with the goal of boosting livestock product outputs will facilitate the growth of the feed mycotoxin detoxifiers in North America. According to Future Market Insights, North America dominated the feed mycotoxin detoxifiers market owing to the high preference for poultry products, better understanding among farmers for the use of feed mycotoxin detoxifiers in feed additives, and the presence of active players in these regions.
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