The feed mycotoxin detoxifiers market was estimated at a value of USD 1967.8 million in 2016. It is projected to reach USD 2341.8 million by 2021, at a CAGR of 3.5% during the forecast period from 2016 to 2021. Mycotoxin detoxifiers, when used in animal feed, prevent the contamination of feed by mycotoxins, which are a collective group of natural chemicals (toxic secondary metabolite) produced by certain molds. These various mycotoxins contaminate the animal feed and negatively affect animals. These 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 these animals from these adverse effects, mycotoxin detoxifiers are used in animal fodder. They are unique for each mycotoxin and are required to be supplemented in animal feed to counter the harmful effects of mycotoxins.
This market is driven by various factors, such as the increase in the demand for high-quality meat by the masses all over the world, raising awareness about the usage of mycotoxins detoxifiers among farmers, and a greater emphasis on the reduction of animal fodder wastage. Additionally, the industrialization of the livestock industry also acts as a primary driver for this market. Although this market has quite a few substantial drivers, it is still restrained by a few factors, such as the need for specific inactivators for different mycotoxins and the environmental concerns related to inorganic absorbents. In addition to these, the competition for raw materials with other industries and the price volatility of agro-commodities also restrain the growth of this market.
There are various opportunities in this market, which could be tapped for further growth of the studied market. These opportunities are the rising demand of mycotoxin detoxifiers in the Asia-Pacific markets and the rise in the prices of natural feeds.
By type, the global mycotoxin detoxifiers market is segmented into binders and bio transformers. Binders are further segmented into bentonite, clays, and others. Similarly, Bio transformers are also further segmented into enzymes, yeasts and others. By animal type, this market is segmented into ruminant, poultry, swine, aquaculture, pets, horses, and others. Lastly, by geography, this market has been segmented into major regions, such as North America (U.S., Mexico, Canada and others), Europe (Spain, the U.K., Germany, France, Russia, Italy and others), Asia-Pacific (China, India, Japan, Thailand, Australia and others), South America (Brazil, Argentina and others), the Middle East (Saudi Arabia, Dubai and others), and Africa (South Africa, Egypt and others).
By geography, Europe is the largest market for mycotoxin detoxifiers. On the other hand, by animal type, the poultry feed segment is the biggest and the fastest-growing segment. By type, the binders segment accounts for the maximum market share and is also the fastest-growing segment.
This report utilizes Porter’s Five Forces Analysis to comprehensively analyze the global feed mycotoxin detoxifiers market to provide various parameters, such as the bargaining power of suppliers, bargaining power of buyers, the degree of competition, multiple threats from substitutes, and the threat of new entrants for the studied market in this report.
The report also elucidates on the competitive landscape and key market players. Various companies that are functional in this market are Alltech Bio-Products Co. Ltd.; AMLAN International; Bayer Co., Ltd.; Belgium Impextraco, and others.