Global Feed Mycotoxin Detoxifiers Market - Growth, Trends and Forecasts (2018 - 2023)
The global 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 2018 to 2023. 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 negative 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 negative effects, mycotoxin detoxofiers are used in animal fodder. They are specific for each mycotoxin and are required to be supplemented in animal feed to counter the adverse effects of mycotoxins. This market is driven by various factors, such as the increase in the demand of good quality meat by the masses all over the world, rising awareness pertaining to 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 major 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 the Porter’s Five Forces Analysis to comprehensively analyze the global feed mycotoxin detoxofiers market to provide various parameters, such as the bargaining power of suppliers, bargaining power of buyers, degree of competition, various threats from substitutes, and threat of new entrants for the studied market in this report. The report also elucidates on 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.
Key Deliverables in the Study Market analysis for the global feed mycotoxin detoxifiers market, with region-specific assessments and competition analysis on global and regional scales.
Market definition along with the identification of key drivers and restraints. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies that can influence this market on a global and regional scale. Extensively researched competitive landscape section with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the global feed mycotoxin detoxifiers market on both global and regional scales.
The global feed mycotoxin detoxifiers market report provides a comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. Insights on the major countries/regions in which this industry is booming and to also identify the regions that are still untapped.
Published By: Mordor Intelligence
Published Date: Q3 2016