The global feed mycotoxin detoxifiers market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.37% during 2023-2028.
What is a Feed Mycotoxin Detoxifiers?
Feed mycotoxin detoxifiers represent numerous additives added to animal feed to convert the toxins into less toxic products. They act as bio-transforming agents in preventing the contamination of feed by mycotoxins that can negatively impact animal health, leading to problems related to reproduction, performance, or organ damage, including liver and kidney. In recent times, mycotoxin detoxifiers have gained traction among farmers, as they aid in protecting animals against several diseases and promoting proper growth in livestock.
What Are The Major Key Factors Driving In The Feed Mycotoxin Detoxifiers Market?
The expanding compound feed industry and the increasing consumption of animal-based products, such as dairy, eggs, and meat, are among the key factors stimulating the feed mycotoxin detoxifiers market. Moreover, the growing prevalence of mycotoxins in animal feed crops, including maize, on account of unfavorable weather conditions, and the rising awareness regarding the benefits of feed detoxifiers among farmers is acting as another significant growth-inducing factor. Besides this, the escalating demand for high-quality food and the inflating focus on animal health are accelerating the adoption of mycotoxin detoxifiers in animal fodder, which is positively influencing the global market.
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Furthermore, the implementation of advanced animal husbandry practices to enhance meat quality and the growing livestock population are also propelling the market growth. Apart from this, the increasing investments by leading manufacturers in R&D activities to introduce nutritious feed additives and expand their product portfolio are further fueling the global market. Additionally, the rising concerns among the masses regarding food safety, easy availability of raw materials, the inflating disposable income levels, and the launch of favorable government initiatives are anticipated to fuel the feed mycotoxin detoxifiers market over the forecasted period.
Who Are The Key Players/Companies In The Global Feed Mycotoxin Detoxifiers Market?
Adiveter S L, Alltech Inc., Amino Pharma, Amlan International, Bluestar Adisseo Company, Cenzone Tech Inc., Impextraco N.V., Kemin Industries Inc., Koninklijke DSM N.V., Nutrex, Olmix Group, Perstorp Holding AB and Special Nutrients.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product:Breakup by Type:
Breakup by Animal Type:
Breakup by End User:
By Geography
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom,
Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia,
Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates,
Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
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