Mordor Intelligence is pleased to announce the publication of the research report titled ' Global Feed Mycotoxin Detoxifiers Market’. The report gives detailed insight into market dynamics and major players in the industry.
Feed mycotoxin detoxifier is one of the rapidly growing feed additives that are used to degrade the toxic substances into non-toxic substances or to reduce the exposure of mycotoxins in animal feed. The global feed mycotoxin detoxifier market revenue is estimated to grow at a CAGR of 3.5% from 2015 to 2020. The Asia-Pacific market is driving the sales and is expected to hold 28% of the global market revenue by 2020.
The market growth is largely fuelled by the increasing meat consumption and rising concern over its quality and safety. Growth is particularly high in emerging countries such as China, India and Brazil. Some major drivers of the feed mycotoxin detoxifiers industry identified are rise in global meat consumption, increasing awareness towards meat quality and safety, increasing mass production of meat and recent livestock disease outbreaks. Regulatory Burden in various geographies along with price volatility of various raw materials is restraining the growth of the market due to doubts about the efficacy of the products and consequently late regulatory approvals.
The mycotoxin detoxifier market is segmented into two broad categories of binders and bio-transformers. Accounting for more than 50% of total market share, binders are the most widely used mycotoxins globally. The market has been further segmented and discussed on the basis of feed mycotoxin detoxifier consumption in different livestock. It includes swine, ruminants, poultry, aquatic animals and others. Poultry forms the largest market share of 39% as the adoption of intensive farming system in poultry segment is more than any other livestock segment. Other major reason for growth of the market is high slaughter head count resulting from increasing preference towards poultry in different parts of the world including India, the U.S. and Europe.
The Asia-Pacific market is expected to have a high CAGR of 3.7% due to increasing demand for meat products in the region and rising domestic meat production. With rapid economic growth in the region demand for mycotoxin detoxifiers is rising, especially in China, India, Malaysia and Thailand. North America and Europe are the matured market, with a 20% and 44% share in 2015, resulting from increasing per capita meat consumption and rise in on-farm mixing. In North America the U.S. is the largest market with a revenue share of around 70% followed by Canada and Mexico.
Get the full report here: Global Feed Mycotoxin Detoxifiers Market
Some of the major players covered include Bayer, Zoetis, Biomin, Alltech, Kemin etc. Extensive investments in R&D and geographical expansion by global leaders have been followed religiously for the market growth. Most active companies like Bayer and Nutreco N.V. follow acquisition as the growth strategy.
The report also includes major strategies adopted by major players and the landscapes of strategies adopted in the industry.
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