The Global Feed Mycotoxin Detoxifiers Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc. According to the report the Global Feed Mycotoxin Detoxifiers Market is estimated to be $1.97 USD billion and predicted to rise to $2.25 USD billion with a CAGR of 3.6%. The market is segmented by Type (binders-bentonite, clays, and others, bio transformers-enzymes, yeasts, and others) and Animal category (ruminant, poultry, swine, aquaculture, pets, horses, and others). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa.
The growth of the Feed Mycotoxin Detoxifiers market is majorly driven by factors such as the rise in global meat consumption, technological innovations in the industry, a better understanding of the usage of mycotoxins detoxifiers among farmers, and the ecological impact of the meat and dairy industry. Competition for raw materials with other industries and the price volatility of agro-commoditites are the main factors restraining the growth of this market.
The Poultry segment accounted for the highest revenue in 2015, the reason being that because of the increase in demand for poultry meat, consumer taste predilections, and rise in disposable incomes in developing economies, primarily in China and India. Hence the need for prevention of contamination of the animal feed is rising.
Asia-Pacific region accounts for the major share of the Global Feed Mycotoxin Detoxifiers market. This region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among the consumers about the quality of meat, and dairy and related products. This market is also expected to grow at the highest CAGR in the forecast period.
The major companies operating in the global Feed Mycotoxin Detoxifiers market are 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, and Adisseo France SAS.
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