Global Feed Mycotoxin Detoxifiers Market

The presence of various mycotoxins contaminate the animal feed and negatively affect the health of animals. To protect animals from these adverse effects, mycotoxin detoxifiers are used in animal fodder. Market research companies’ reports have different projections for the global feed detoxifiers market size. For example, according to a report by Market Research Future, global feed mycotoxin detoxifiers market size is projected to be worth US$ 3.26 billion by 2030, registering a CAGR of 3.50% during the 2021 – 2030 forecast period.

Global Feed Mycotoxin Detoxifiers MarketBy Ozlem Akatay
Mycotoxins are tiny secondary metabolites produced by moulds that can induce harmful effects in people and animals, known as mycotoxicoses. Due to their pharmacological actions, several mycotoxins are utilized in growth promoters, antibiotics, and other types of medications. The main mycotoxins are aflatoxins, Fusarium toxins, and ochratoxin.

The presence of various mycotoxins contaminate the animal feed and negatively affect the health of animals. The adverse effects could range from problems related to reproduction and organ damage (liver/kidney) to a greater susceptibility to infectious diseases in animals. They can also affect the performance of these animals. To protect animals from these adverse effects, mycotoxin detoxifiers are used in animal fodder. Detoxifiers aid in counter the direct or indirect effects of mycotoxin and other toxic agents. Moreover, kaolin, zeolites, and bentonite are used as a supplement to animal feeds which act as a gut protectants and considered as excellent adsorptive materials of heavy metals as well as bacteria. Therefore, the use of the mycotoxin detoxifiers is increasing in the animal feed in order to keep them safe from the adverse effects of the mycotoxins.

MARKET GROWTH EXPECTATIONS
Market research companies’ reports have different projections for the global feed detoxifiers market. Some of these reports state that the current size of the market is valued at between US$1 and 1.5 billion. In some, this size can reach US$ 2.25 billion. Similarly, there are significant differences in growth expectations.

For example, according to a report by Market Research Future, global feed mycotoxin detoxifiers market size is projected to be worth US$ 3.26 billion by 2030, registering a CAGR of 3.50% during the 2021 – 2030 forecast period. Based on the estimation here, it can be said that the current market size is around US$ 2.4 billion in 2022.

According to Mordor Intelligence, the market was valued at US$ 1.20 billion in 2019 and is projected to grow at a CAGR of 6.4% during the 2020-2025 forecast period. Mordor Intelligence’s growth forecasts indicate that the market size will reach US$1.85 billion in 2025.

In another report prepared by Market Data Forecast, mycotoxin detoxifier market was worth US$ 1.24 billion in 2022, and it is estimated to reach a valuation of US$ 1.80 billion by the end of 2027, expanding at an annual growth rate of 7.8 % between 2022 and 2027.

Another estimate of the market size is included in the IMARC report. According to that report, the global feed mycotoxin detoxifiers market size reached US$ 2.25 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.08 Billion by 2027, exhibiting a growth rate (CAGR) of 5.20% during 2022-2027.

It can be assumed that the large differences between the estimates in the reports are due to the dates of the reports. While the reports prepared especially before Covid-19 point to higher growth 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.

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 2022-2026 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.

Asia Pacific holds huge potential and shows substantial growth in terms of rising meat consumption along with 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 animal industry in these regions.

Market Data Forecast, on the other hand, draws attention to Europe in its report. According to the report, Europe is largest market of the feed mycotoxin detoxifier market and is going to sustain its position in global market during the forecast period due to ready availability of the raw material and high effectiveness. Feed manufacturers are the biggest consumer in this market due to easy availability of raw material in this region. Additionally, the stringent regulations imposed by the governing bodies for hygienic meat products are driving the growth of the market.

Asia-Pacific is estimated to hold huge potential market share due to rising demand of protein rich food such as meat, eggs and dairy products in this region. Also, the rising consumption of the meat along with the growing production of local meat is driving the growth of the market. Additionally, the increasing demand of quality food and the growing awareness towards animal safety is boosting the growth of the market. Moreover, the increasing per capita income of the population with expansion of the animal industries is driving the growth of the market in this region during the forecast period between 2022 and 2027.

North America is expected to show steady growth rate during this period. In United States, the weather conditions are highly favorable for the growth of mycotoxins in the animal feed. The weather conditions cause delay in planting and harvesting of the crop and allow the crop to stay longer in the fields that expose more to mycotoxins due to which the demand of mycotoxin detoxifier is rising in this region.

Major Players:
Adisseo
Adiveter
ADM
Alltech
Amino Pharma
Amlan International
BASF
Bayer
Cargill
Cenzone Tech
Chr. Hansen
DSM
Evonik
Global Nutritech
Impextraco
Kemin Industries
Micron Bio-systems
NOREL Animal Nutrition
Novozymes
Novus International
Nutreco
Nutrex
NutriAd
Olmix Group
Perstorp Holding
Poortershaven Industrial Minerals
Prince Agri
Special Nutrients
Tesgo International
Volac International
Zoetis

GLOBAL MAJOR PLAYERS
The global feed mycotoxin detoxifiers market is highly consolidated with prominent players accounting for majority of the market share. The major players in the global market have large production bases and advanced manufacturing facilities. This allows them to supply the product to various end users around the world in less time than small-scale manufacturers, giving them a competitive advantage in the global market. Furthermore, manufacturers are heavily involved in R&D activities to develop advanced production technologies and expand their production facilities to meet the growing needs of end-users worldwide. Furthermore, manufacturers are forming long-term alliances with key stakeholders in order to gain a significant market share in the global feed mycotoxin detoxifiers market.

Resources:
• Market Research Future; Feed Mycotoxin Detoxifiers Market Research Report Information By Type (Binder, Modifiers) Animal Type (Farm Animals, Pets, Aquatic Animals, Zoo Animals) Forecast till 2030; Published Date: August 2022; Forecast Period: 2021-2030; https://www.marketresearchfuture.com/reports/feed-mycotoxin-detoxifiers-market-10818
• Technavio; Feed Mycotoxin Detoxifiers Market by Type and Geography – Forecast and Analysis 2022-2026; Published: January 2022; https://www.technavio.com/report/feed-mycotoxin-detoxifiers-market-industry-analysis
• Orion Market Research Pvt. Ltd; Global Feed Mycotoxin Detoxifiers Modifier Market Size, Share & Trends Analysis Report By Animal Type(Poultry, Ruminant, Swine, Pets, Aquaculture, Rodents, Others), By Product Type (Mycotoxin Binders, Clays, Bentonite, Yeasts, Enzymes, Others), By End-User (Aquaculture Industry, Integrators, Feed Manufacturers, Farmers, Home-mixers), Forecast (2021-2027); Published: Oct 2021; https://www.omrglobal.com/industry-reports/feed-mycotoxin-detoxifiers-modifier-market
• Future Market Insights; Feed Mycotoxin Detoxifiers Market: Global Industry Analysis and Opportunity Assessment 2017-2027; https://www.futuremarketinsights.com/reports/feed-mycotoxin-detoxifiers-market
• Mordor Intelligence; Feed Mycotoxin Detoxifiers Market – Growth, Trends, Covid-19 Impact, and Forecasts (2022 – 2027); https://www.mordorintelligence.com/industry-reports/global-feed-mycotoxin-detoxifiers-market-industry
• Market Data Forecast; Global Feed Mycotoxin Detoxifiers Market Research Report – Segmentation By Livestock (Poultry, Ruminants, Swine, Aquaculture, Pets, Other Animals), Type (Binders, Bio-Transformers), End Users (Aquaculture Industry, Integrators, Feed Manufacturers, Farmers, Home Mixers) – Demand Analysis and Opportunity Outlook 2027; Published: January, 2022; https://www.marketdataforecast.com/market-reports/global-feed-mycotoxin-detoxifiers-market
• IMARC Services Private Limited; Feed Mycotoxin Detoxifiers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027; https://www.imarcgroup.com/feed-mycotoxin-detoxifiers-market