Feed Mycotoxin Detoxifiers Market Analysis

Feed Mycotoxin Detoxifiers Market Overview

Feed Mycotoxin Detoxifiers Market size is projected to be worth USD 3.26 Billion by 2030, registering a CAGR of 3.50% during the forecast period (2023 - 2030).

Mycotoxin Detoxification are substances or mixtures of substances that are incorporated into a feed matrix to reduce the animal's exposure to known mycotoxins, thereby reducing their toxicity. These substances may act to reduce gastrointestinal absorption, decreasing bioavailability, promoting excretion, or altering the mycotoxins' mode of action. They can also have an impact on these animals' performance. Mycotoxin detoxifiers are used in animal feed to protect these animals from these negative effects. They are specific to each mycotoxin and must be added to animal feed to counteract the negative effects of mycotoxins.

COVID-19 Impact on Feed Mycotoxin Detoxifiers Market

Although decades of pandemic modelling predicted possible outcomes, COVID-19's impact on the food supply chain, particularly livestock production, was unexpected. Clusters of cases among workers in meat processing plants spread quickly across several countries, affecting human, animal, and environmental welfare. The focus of hygiene in processing plants is on product quality and food safety. Many processing plants in the United States (US) shut down when major outbreaks were discovered, putting pressure on the pig and poultry industries in particular. There was a 45 percent reduction in pig processing capacity at one point, implying that approximately 250,000 pigs per day were not slaughtered. This resulted in longer transport distances to plants with increased capacity, as well as overcrowding of farm animals. Producers were encouraged to slow their growth rates, but some were forced to cull animals on the farm in ways that likely included suffering and upset owners and workers.

COVID-19 has had a negative impact on overall chemical production, particularly on the production of Feed Mycotoxin Detoxifiers, owing to disruptions in the global supply chain. This is due to the global lockdown and travel restrictions imposed to limit the spread of the coronavirus. The pandemic has had an impact on livestock feed sector, limiting the production of feed mycotoxin detoxifiers. Because feed mycotoxin detoxifiers are widely used in a variety of animals such as livestock, horses, companion animals, and others, a decrease in their operations has a direct impact on the growth of the feed mycotoxin detoxifiers market.

Furthermore, procurement of raw materials was a major impediment, as the majority of raw material suppliers in the market were forced to close their operations due to the outbreak of COVID-19. The closure of several raw material producers and feed mycotoxin detoxifiers manufacturers has resulted in a drop in global consumption. Given the circumstances, many companies have halted production at their facilities all over the world. Some large companies that are still in operation are only operating at 40-60% efficiency. However, these businesses have resumed operations in accordance with government regulations. Furthermore, the imposition of various fiscal and monetary policies by governments and managements around the world to limit the damage caused by COVID -19 is expected to result in certain relief.

January 2024

Gene-editing technology, the most recent innovation from CRISPR, focuses on agricultural security and sustainability via genetic modification.

The objective of CRISPR technology is to facilitate accurate and specific genetic alterations in crops. As the underlying principles of CRISPR can provide a means to ensure food security and sustainability, the gene editing technique provides a means to influence the manner in which the food and agricultural sector produces agrifood, according to the food and beverage consultancy Forward Fooding.

As opposed to the years required by conventional breeding techniques to produce desired traits, CRISPR can generate fruits with particular qualities within months. "In addition, it can be used to develop crops that are more resilient to environmental stress, nutritious, and sustainable," Max Leveau, co-founder and chief operating officer (COO) of Forward Fooding, told FoodNavigator.

Increase the resilience of food systems

The fundamental objective of employing the CRISPR technique is to contribute to the resilience of our global food systems. Population growth, climate change, and the continuous demand for novel product development (NPD) are the primary concerns and initiatives that propel its application.

The application of CRISPR gene editing holds promise for bolstering crops against adverse environmental conditions, improving crop quality, and maximizing yields. "Researchers have developed crops with enhanced resistance to pathogen infection, increased plant growth, crop yield, and crop quality using this technology," Leveau further stated.

Global agrifood systems can increase the resistance of crops to persistently severe weather using CRISPR, thereby ensuring crop yields in defiance of the climate crisis.

It is anticipated that CRISPR will assist in addressing global food insecurity and malnutrition by enhancing the nutritional composition of plants. By means of such fortification, these plants are capable of augmenting their yields of specific vitamins, zinc, iron, and various other vital nutrients.

Market Dynamics

Drivers

• 
  

  Rise in incidences of mycotoxin occurrence in livestock

  
  

Over 500 mycotoxin strains have been reported globally, including aflatoxins (B1, B2, G1, G2, and M1), ochratoxin A, deoxynivalenol, and fumonisins, which are the most common mycotoxins found in livestock feed. Disease outbreaks are becoming more common in livestock. Thus, with growing demand to improve the health and wealth of livestock and to produce maximum livestock performance by livestock farmers is likely to drive the global feed mycotoxin detoxifiers market.

Opportunity

• 
  

  Rising demand from poultry and aquafeed sectors

  
  

Due to large-scale farming, poultry and aqua feed sector rearing in feedlots can be considered a significant growth sector for the feed mycotoxin detoxifiers market. Further, due to population growth and rising individual consumption, the demand for poultry meat is expected to continue to rise. Regardless of region or income level, the market for poultry meat is expected to grow significantly throughout the forecast period.

Restraints

• 
  

  Presence of potential substitutes

  
  

Most livestock growers do not consider mycotoxin binders and modifiers to be necessary feed additives, preferring to use other feed additives such as mould inhibitors, acidifiers, and other feed preservatives to improve livestock feed shelf life and improve livestock health and wealth.

Challenges

• 
  

  Consequences of Mycotoxin Detoxifiers

  
  

Feed Mycotoxin Detoxifiers does not exhibit same characteristics and thus work differently when added to feed. Every binder has a unique binding capacity that varies depending on the source; even two clay products from the same bentonite family can have different levels of efficiency. Some regions, such as the EU, allow a maximum inclusion level of 2% clay in feed to bind aflatoxin B1; however, even at lower inclusion levels, the risk of binding with the existing nutrients exists in feed. These undesirable binding results reduce mycotoxins' effectiveness, and there may be a decrease in the availability of essential nutrients for livestock growth and production.

Segmentation

• Binder


• Modifiers

• Farm Animals


• Pets


• Aquatic Animals


• Zoo Animals

• North America


• Europe


• Asia-Pacific


• Latin America


• Middle East & Africa

Regional Analysis

North America held the largest market share and is expected to grow at the significant rate in the market. This is primarily due to increase in demand for safe and high-quality livestock-based products, food safety awareness, stringent quality regulations, and aim to reduce, prevent and eliminate the growth and presence of mycotoxin contaminant in the food chain. Further, factors such as adverse climatic condition and growing crop contamination due to mycotoxins is driving the demand for the market in the region. Europe accounted for the second largest market share in the global market. This is mainly due to the ease of availability of raw materials, stringent regulations, and high demand for crop and livestock yield. On the other hand, Asia-Pacific is anticipated to witness fastest growth in the global market throughout the forecast period. This is due to the rising meat consumption along with production of local meat, increasing demand for quality food, growing awareness towards food safety, increasing per capita spending on meat related products, and expanding industrialization of animal industry in these regions. The Middle East and Africa is expected to grow profitably due to a steady supply of raw materials. Because of the rise in livestock and crop production. Further, Latin America market is expected to provide significant growth opportunities in the forecast period due to the rising demand for supplements in livestock and increasing consumption for meat & meat products.

Competitive Landscape

The global Feed Mycotoxin Detoxifiers market is highly consolidated with prominent players accounting for majority of the market share. The major players in the global market have large production bases and advanced manufacturing facilities. This allows them to supply the product to various end users around the world in less time than small-scale manufacturers, giving them a competitive advantage in the global market. Furthermore, manufacturers are heavily involved in R&D activities to develop advanced production technologies and expand their production facilities to meet the growing needs of end-users worldwide. Furthermore, manufacturers are forming long-term alliances with key stakeholders in order to gain a significant market share in the global feed mycotoxin detoxifiers market.

Some of the prominent players in the global feed mycotoxin detoxifiers market include Cargill (US), BASF (Germany), ADM (US), Bayer (Germany), Perstorp (Sweden), Chr. Hansen (Denmark), Kemin (US), Nutreco (Netherlands), Adisseo (France), Alltech (US), Novus International (US), Biomin (Austria), Impextraco (Belgium), Norel (Spain), and Global Nutritech (Turkey)

Some of the key developments include:

• In March 2020, Olmix group partnered with the INRAE (National Research Institute for Agriculture, Food and Environment) to strengthen its position in the areas of environmental and animal nutrition and health by developing sustainable and economically viable agricultural food systems.


• In December 2019, Olmix Group has expanded its production facility at Serbia to assist its customers in addressing challenges in livestock immunity, digestive welfare, and mycotoxin risk management.


• In January 2019, ADM acquired Neovia (France) to broaden its product portfolio for livestock and companion animal health. It would be able to provide premixes, feed ingredients, aquaculture, mycotoxin, and other additives as a result of the acquisition.

Report Overview:

The feed mycotoxin detoxifiers market is segmented by type, animal type, and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value-chain analysis, porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global feed mycotoxin detoxifiers' emerging and fast-growing segments, regions, and countries.

Objectives of the Study

• To get a comprehensive overview of the global feed mycotoxin detoxifiers market


• To get a wide-ranging information about the key factors driving the market and market opportunities


• To gain information regarding the key players in the industry, their product portfolio, strategies and key developments


• To gain insights about the key country/region in which the market is growing

Intended Audience

• Food and Beverage Companies


• Animal Feed Companies


• Livestock Growers


• Research Institutes


• Academic Institutes


• Government Organizations