Market Size of feed mycotoxin detoxifiers Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 2.25 Billion |
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Market Size (2029) | USD 2.86 Billion |
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Largest Share by Sub Additive | Binders |
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CAGR (2024 - 2029) | 4.94 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Feed Mycotoxin Detoxifiers Market Analysis
The Feed Mycotoxin Detoxifiers Market size is estimated at 2.25 billion USD in 2024, and is expected to reach 2.86 billion USD by 2029, growing at a CAGR of 4.94% during the forecast period (2024-2029).
2.25 Billion
Market Size in 2024 (USD)
2.86 Billion
Market Size in 2029 (USD)
5.05 %
CAGR (2017-2023)
4.94 %
CAGR (2024-2029)
Largest Market by Sub-Additive
66.94 %
value share, Binders, 2023
Binders have the largest share as they bind the harmful mycotoxins and provide resistance against animal diseases by resisting toxins from entering the bloodstream.
Largest Market by Region
31.13 %
value share, Asia-Pacific, 2023
Asia-Pacific is the largest region in the market due to increasing demand for livestock products, and growing concern for animal safety led to increased consumption.
Fastest-growing Market by Sub-Additive
4.95 %
Projected CAGR, Biotransformers, 2024-2029
Biotransformers are the fastest-growing segment in the market due to increased awareness of preventing mycotoxin absorption and preserving nutritional properties.
Fastest-growing Market by Region
5.81 %
Projected CAGR, North America, 2024-2029
Globally, North America has the fastest growing rate due to higher demand for cereal and grains in animal feed, increased demand for beef meat and higher productivity.
Leading Market Player
6.35 %
market share, Cargill Inc., 2022
Cargill Inc. is the market leader because it expands its business by increasing its innovation centers in the United States and acquiring competitors.
- In 2022, feed mycotoxin detoxifiers accounted for 6.2% of the global feed additives market in terms of value, as mycotoxins are a type of toxic fungus that can negatively impact animal health and growth when present in animal feed. Therefore, mycotoxin detoxifiers are used to reduce the impact of mycotoxins.
- The most significant feed mycotoxin detoxifiers are binders, which accounted for a market value of USD 1.4 billion in 2022. Binders are used to prevent toxic materials from entering the bloodstream and causing neurological disorders in animals and are favored for their low cost compared to other types of detoxifiers.
- As concerns around animal health are growing and animal farmers prefer high-quality feed, both mycotoxin binders and transformers are expected to register a CAGR of 4.9% during the forecast period. Asia-Pacific was the largest market for mycotoxin detoxifiers in 2022, accounting for 31.1% of the market share, followed by North America at 26.1% and Europe at 23.1% due to the higher feed production of 0.5 million metric tons and the larger animal population in the Asia-Pacific region.
- North America is expected to be the fastest-growing region in the mycotoxin detoxifiers market during the forecast period, with a projected CAGR of 5.8% due to the rising commercial cultivation of animals and concerns around animal health. Due to the usage of detoxifiers in animal feed containing cereals and grains, which are mostly consumed by animals, the global feed mycotoxin detoxifiers market is expected to record a CAGR of 4.9% during 2023-2029.
- Therefore, the global mycotoxin detoxifier market is expected to grow during the forecast period due to the rising concerns about animal health and the need for safer animal feed.
Understand The Key Trends Shaping This Market
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- The global market for feed mycotoxin detoxifiers is largely dominated by the Asia-Pacific region, which accounted for USD 636.7 million in 2022, increasing by more than 45.3% during 2019-2022. The primary reason for this growth is the increasing demand for livestock products and the growing concern for animal safety, which led to increased consumption of these detoxifiers.
- The Asia-Pacific market is expected to continue to be the fastest-growing market globally, with a projected CAGR of 5.0% during the forecast period. This growth is due to factors such as increased livestock farming and feed production in the region. In 2022, the region had 17.11 billion animals, accounting for 42.6% of the global share, and feed production stood at 502.7 million metric tons, holding 40.2% of the global share.
- China, India, Australia, and Japan are the key drivers of the market in the Asia-Pacific region. North America and Europe are also major regions, accounting for 26.3% and 23.0% of the global market share, respectively. In these regions, animal feed production has increased significantly, particularly in North America, by 30.2% from 215.5 million metric tons in 2017.
- The United States and China are the two countries with the largest market share, accounting for 18.3% and 13.8%, respectively, in 2022. These countries have high global feed production volumes and trade activities.
- The expanding feed industry and the rising consumption of animal-based products such as dairy, eggs, and meat are driving the feed mycotoxin detoxifiers market. With the growing awareness of the benefits of these detoxifiers among farmers, the market is expected to continue to register a CAGR of 4.9% during the forecast period.
