Market Overview:

The worldwide market For Mycotoxin Detoxifiers was at USD 2.2 billion in 2019 and is projected to grow at a CAGR of 3.64% to reach USD 2.6 billion by 2024. The global market for detoxifiers is increasing at a significant rate due to the increase in livestock consumption for meat as a source of protein. 

When used in feed, mycotoxin detoxifiers prevent contamination of foods by mycotoxins, which are a collective group of natural chemicals (toxic secondary metabolites) produced by individual molds. To protect the animals from adverse effects, mycotoxin detoxifiers are used in animal feed. They are specific for each mycotoxin and should be supplemented with feed to counteract the harmful effects of mycotoxins. 

Market Drivers and Restraints:

The growth of the mycotoxin detoxification market in feed is mainly due to factors such as increasing world meat consumption, a better understanding of the use of such products among farmers, the risk of animal diseases and the ecological impact of the meat industry. Technological innovations also play an essential role in promoting this industry. Although this market has several important factors, it is still limited by factors such as the need for specific in activators for different mycotoxins and environmental problems associated with inorganic absorbents. Besides, competition for raw materials with other industries and price volatility of agricultural products also limit the growth of this market.

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Report segmented as

By Type:

binders-bentonite,
Clays,
Bio Transformers-enzymes,
Yeasts
By Animal Category:

ruminant,
Poultry,
Swine,
Aquaculture,
Pets,
Horses,
Geographical Analysis:

The market has also been geographically distributed in North America, Europe, Asia-Pacific and Latin America and the Middle East. The poultry sector is developing as a leading segment of livestock consumption, followed by pigs and cattle, due to the increased demand for poultry meat, consumer preferences and increased income available in developing economies, mainly in China and India. The Asia-Pacific region is expected to offer lucrative growth opportunities due to the significant increase in feed production and greater consumer awareness of the quality of meat, dairy and related products.

Important Market Players:

Some of the foremost companies controlling this 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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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

About Us:

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