The feed mycotoxin detoxifiers market share is expected to increase by 1220.86 thousand tons from 2021 to 2026, and the market’s growth momentum will decelerate at a CAGR of 5.96%.
This feed mycotoxin detoxifiers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers feed mycotoxin detoxifiers market segmentation by type (broilers, pigs, beef, and others) and geography (APAC, North America, South America, Europe, and MEA). The feed mycotoxin detoxifiers market report also offers information on several market vendors, including Alltech Inc., Bluestar Adisseo Co., Impextraco NV, Kemin Industries Inc., Koninklijke DSM NV, Norel SA, Olmix SA, Perstorp Holding AB, Special Nutrients Inc., and Volac International Ltd. among others.
What will the Feed Mycotoxin Detoxifiers Market Size be During the Forecast Period?
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Feed Mycotoxin Detoxifiers Market: Key Drivers, Trends, and Challenges
The increasing consumption of animal-based products is notably driving the feed mycotoxin detoxifiers market growth, although factors such as growing consumer inclination towards vegan lifestyle may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the feed mycotoxin detoxifiers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Feed Mycotoxin Detoxifiers Market Driver
One of the key factors driving growth in the feed mycotoxin detoxifiers market is the increasing consumption of animal-based products. The growth in demand for feed mycotoxin detoxifiers is partly due to the increased need for animal-based goods. For example, in 2020, Canada produced chicken and egg products worth $4.9 billion, accounting for 6.8% of agricultural revenue earnings. Also, commercial chicken and turkey meat output in Canada was 1.43 billion kilos. Furthermore, Canada sold approximately 10.9 million chicks and poults to 36 nations for a total of $40.4 million. The largest market was the United States, which accounted for 89% of exports. China, Nepal, Turkey, the United Arab Emirates, and Sri Lanka were among the other countries represented. As a result, demand is increasing. Similarly, poultry is the most developed animal feed livestock subsector in Mexico, owing to the significant demand for chicken. Thus, the increase in demand for animal-based products has led to a rise in the consumption of animal feed products, which, in turn, is fueling the demand for feed mycotoxin detoxifiers.
Key Feed Mycotoxin Detoxifiers Market Trend
The increasing demand for protein-rich snacks is another factor supporting the feed mycotoxin detoxifiers market share growth. Players in the market are highlighting the protein content in their product offerings to convince consumers. They are also shifting the focus of their marketing strategies and projecting their offerings as healthy protein snacks. The increasing demand for protein-rich snacks among millennials and the convenience offered by meat snacks, such as on-the-go consumption, will make meat snacks a popular option among millennials. This increase in demand for meat will, in turn, have a positive impact on the feed mycotoxin detoxifiers to produce healthy meat. Due to this, we can expect to see positive growth during the forecast period
Key Feed Mycotoxin Detoxifiers Market Challenge
The growing consumer inclination towards a vegan lifestyle will be a major challenge for the feed mycotoxin detoxifiers market during the forecast period. Vegan food is considered a healthy diet option. Vegan foods comprise plant-based food products that are made from fruits and vegetables. They omit dairy, meat, and egg products. Hence, the requirement for meat and animal-based products will decrease to meet the growing demand for the vegan population. Veganism is also growing among the young population, owing to health and food safety concerns associated with animal-based food products. The growing consumer inclination toward such diets led to an increase in the adoption of vegan diets across various countries such as the US and the UK in 2021. Other factors that encourage consumers to shift toward a vegan diet are growing focus on animal welfare, health issues associated with meat consumption, increased focus on weight management, and concerns of antibiotic use in animals. The growth in the vegan diet population has a negative impact on poultry. Thus, we can expect to see a negative impact on the market.
This feed mycotoxin detoxifiers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Parent Market Analysis
Technavio categorizes the global feed mycotoxin detoxifiers market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the feed mycotoxin detoxifiers market during the forecast period.
Who are the Major Feed Mycotoxin Detoxifiers Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Alltech Inc.
- Bluestar Adisseo Co.
- Impextraco NV
- Kemin Industries Inc.
- Koninklijke DSM NV
- Norel SA
- Olmix SA
- Perstorp Holding AB
- Special Nutrients Inc.
- Volac International Ltd.
This statistical study of the feed mycotoxin detoxifiers market encompasses successful business strategies deployed by the key vendors. The feed mycotoxin detoxifiers market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Product Insights and News
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Alltech Inc - The company offers feed mycotoxin detoxifiers products such as Mycosorb A+.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The feed mycotoxin detoxifiers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Feed Mycotoxin Detoxifiers Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the feed mycotoxin detoxifiers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the commodity chemicals market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Feed Mycotoxin Detoxifiers Market?
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29% of the market’s growth will originate from North America during the forecast period. The US is the key market for feed mycotoxin detoxifiers in North America. Market growth in this region will be slower than the growth of the market in the European, South American, and MEA regions.
The rising demand for animal products, which has prompted considerable adjustments on the supply side, with the goal of boosting livestock product outputs will facilitate the growth of the feed mycotoxin detoxifiers in North America. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Type Segments in the Feed Mycotoxin Detoxifiers Market?
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The feed mycotoxin detoxifiers market share growth by the broiler segment will be significant during the forecast period. Broiler chickens are among the most intensively farmed animals on the planet. Broiler chickens are grown in huge, open buildings known as houses, where they may wander, explore, eat, and interact with other chickens. Vaccinations are provided through spraying or injection and then transferred to a grow-out facility. Mycotoxins can have far-reaching consequences in poultry, such as reducing gastrointestinal integrity, immunity, which makes the broilers susceptible to infectious diseases, and makes them ineffective towards vaccination which deteriorates the performance in broilers, and results in economic losses. As a result, employing post-harvest control measures such as adding mycotoxin detoxifying agents is a common mycotoxin mitigation method
This report provides an accurate prediction of the contribution of all the segments to the growth of the feed mycotoxin detoxifiers market size and actionable market insights on post COVID-19 impact on each segment.
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Feed Mycotoxin Detoxifiers Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 5.96% |
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Market growth 2022-2026 |
1220.86 th tons |
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Market structure |
Fragmented |
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YoY growth (%) |
6.43 |
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Regional analysis |
APAC, North America, South America, Europe, and MEA |
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Performing market contribution |
North America at 29% |
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Key consumer countries |
US, China, Brazil, Mexico, and Russian Federation |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Alltech Inc., Bluestar Adisseo Co., Impextraco NV, Kemin Industries Inc., Koninklijke DSM NV, Norel SA, Olmix SA, Perstorp Holding AB, Special Nutrients Inc., and Volac International Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Feed Mycotoxin Detoxifiers Market Report?
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will drive feed mycotoxin detoxifiers market growth during the next five years
- Precise estimation of the feed mycotoxin detoxifiers market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the feed mycotoxin detoxifiers industry across APAC, North America, South America, Europe, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of feed mycotoxin detoxifiers market vendors
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