The European feed mycotoxin detoxifiers market was valued at USD 562.29 million in 2023 and is anticipated to reach USD 581.97 million in 2024 from USD 766.34 million by 2032, growing at a CAGR of 3.5%, from 2024 to 2032.
The European feed Mycotoxin Detoxifiers market is evolving at a substantial rate due to the rise in the livestock population's preference for meat consumption as a source of protein. Mycotoxin detoxifiers, when used in animal feed, thwart the corruption of feed by mycotoxins, which are a collective group of natural chemicals (toxic secondary metabolites) that are formed from 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 defend the animals from these negative effects, mycotoxin detoxifiers are used in animal fodder.
The growth of the European feed mycotoxin detoxifiers market is mainly driven by factors such as the rise in meat consumption, a better understanding of the usage of mycotoxin detoxifiers among farmers, and the ecological impact of the meat and dairy industry. Technological innovations also play a crucial role in the advancement of this industry. 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.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
3.5% |
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Segments Covered |
By Type, By Animal and by Country |
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Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
Germany, the UK, France, Spain, Italy |
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Market Leaders Profiled |
BASF SE Cargill, Inc Alltech, Inc Novozymes A/S Chr. Hansen Holding A/S Archer Daniels Midland Company Charoen Pokphand Foods Public Company Limited Nutreco N.V Evonik Industries AG Adisseo France SAS. |
In this category, the poultry segment leads the European feed Mycotoxin Detoxifiers market.
The poultry segment is developing as a leading livestock segment for the consumption of feed additives, trailed by swine and cattle, because of the increase in demand for poultry meat, and consumer taste predilections. Hence, the rising need for the prevention of animal feed contamination is driving this market.
BASF SE, Cargill, Inc, Alltech, Inc, Novozymes A/S, Chr. Hansen Holding A/S, Archer Daniels Midland Company, Charoen Pokphand Foods Public Company Limited, Nutreco N.V., Evonik Industries AG, Adisseo France SAS. These are some of the major key players involved in the European feed mycotoxin detoxifier market.
Frequently Asked Questions
The current size of the Europe feed mycotoxin detoxifiers market is predicted to grow to USD 524.9 Million in 2023.
The Expected growth value of Europe feed mycotoxin detoxifiers market at USD 623.42 Million by 2028
The poultry segment leads the Europe Feed Mycotoxin Detoxifiers market in 2022.
BASF SE, Cargill, Inc, Alltech, Inc, Novozymes A/S, Chr. Hansen Holding A/S, Archer Daniels Midland Company, Charoen Pokphand Foods Public Company Limited, Nutreco N.V., Evonik Industries AG, Adisseo France SAS. These are some of the major key players involved in the European feed mycotoxin detoxifier market.
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