The European feed mycotoxin detoxifiers market is expected to register a CAGR of about 3.30% over the forecast period and reach USD 1.11 billion by 2023.

Growth in Compound Feed Industry

The global compound feed market is estimated to grow at a CAGR of 1.6% over the period 2018-2023. The compound feed industry is growing, owing to factors like increasing meat consumption across the globe and growth in the processed meat industry due to the increased income of middle-class population in developing countries. There has been growing pressure on the livestock industry to meet the growing demand for meat and high-value animal protein. Population growth, rising incomes in developing nations, and urbanization have led to a surge in the global livestock production. Demand for high-quality compound feed from the livestock industry due to the increased industrial production of meat and dairy products has elicited the growth in the consumption of compound feed and feed additives. Also, demand for additives, which are cost-effective and enhance production, has been generated.

The large-scale producers and meat manufacturers use the additives to provide a constant supply of nutrients to the animals, enhance production, and performance. The growth in the compound feed market is helping in the improvement of the feed additives market and, in turn, the feed mycotoxin detoxifiers market.

Source: Mordor intelligence analysis

Price Volatility of Agri Commodities

Availability of feed has become a critical issue for the industry. With the growing global population and a corresponding food shortage, the industry is facing severe pressure in the procuring raw feed such as maize, wheat, barley, etc.

The demand for high-quality compound feed from the livestock industry due to an increased industrial production of meat and dairy products has elicited the growth in consumption of the compound feed and feed additives. The raw materials used for compound feed products, such as maize, barley, and soybean, are used for human consumption and production of ethanol. In this scenario, the feed industry competes with the food industry for raw materials. Hence, the primary concern for the feed industry is procuring these raw materials and the rising prices of these primary ingredients. Thus, the increasing costs of feed raw materials can adversely affect market growth, especially in the large, price-sensitive Asian and Latin American markets.

In the price-sensitive markets and emerging markets like India, the addition of feed additives like mycotoxin detoxifiers, especially when the feed prices are high, is not practiced and thereby, encourages unscientific practices of mycotoxin prevention. This can negatively affect the growth of the mycotoxin detoxifiers market.

Key Developments in the Market:

• June 2017: Europe intends to collaborate with China to discuss approaches on standardizing the addition of mycotoxin detoxification additives in feed through its mycotoxin project named MyToolBox  

Major Players: Cargill Inc., Charoen Pokphand, Land O Lakes Purina, and Alltech Inc., among others.

Reasons to Purchase the Report

• Provides latest insights into the European feed mycotoxin detoxifier market
• Gives a detailed analysis of the competitive landscape in the European mycotoxin detoxifier market
• Detoxifier industry segmented by additive type, animal type, and geography
• Analyses the market scenario with the help of Porter’s five forces analysis
• Forecasts the market volume and value by assessing the impact of the market drivers and constraints
• 3 month analyst support, along with the Market Estimate sheet (in Excel)

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