Feed Mycotoxin Detoxifiers Market To Expand With Rising Demand For Animal Meat Protein Around the World By A CAGR of Around 3% Throughout 2020-2028

Research Nester has released a report titled "Feed Mycotoxin Detoxifiers Market - Global Demand Analysis & Opportunity Outlook 2028" which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter's five force model.

The statistical report titled FAO Global Food Outlook November 2019, by the Food and Agriculture Organization of the United Nations, stated that the production of poultry type of animal protein worldwide is expected to reach 130.5 million metric tons in the year 2019 from 124.6 million metric tons in the year 2018. Additionally, production of other type of animal protein, such as that of bovine and ovine, is expected to reach to 72.3 million metric tons and 15.4 million metric tons in the year 2019 from 71.3 million metric tons and 15.3 million metric tons in the year 2018 respectively.

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The statistics portray the growing demand for meat and meat products around the globe on the back of rising need for including protein in meals as a part of maintain a healthy lifestyle habit. With the rising population around the globe, food producers and other manufacturers in the food chain are increasingly putting up their efforts to minimize waste and meet the demand for consumption of food products. Additionally, advancements in the halal food and kosher food certifications worldwide has also raised the exports of meat and meat products around the globe. As such, there is a rising demand for uncontaminated fodder for livestock amongst suppliers in the food chain so as to have a healthy number of livestock in their farms, which is anticipated to drive the growth of the global feed mycotoxin detoxifiers market.

The global feed mycotoxin detoxifiers market is anticipated to grow at a CAGR of around 3% during the forecast period, i.e. 2020-2028. The market is segmented by product type into binders and bio-transformers. Among these segments, the binders segment is anticipated to hold the largest market share on account of longer shelf life of binders, which promotes commercialization on a large scale, along with easy availability of binders at a cheaper price.

Geographically, the global feed mycotoxin detoxifiers market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, North America is anticipated to hold the largest market share on account of increasing adoption rate of feed mycotoxin detoxifiers in livestock feed, rising risk level for mycotoxin in livestock feed, stringent regulations by the government of the nations for the threshold level of mycotoxin and significant production of animal feed in the region. International Feed Industry Federation (IFIF), in one of its statistics, stated that out of the total animal feed production in the world in the year 2018, USA and Canada constituted a major share of production, amounting to a quantity of 177 million tonnes and 22 million tonnes respectively.

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However, concerns for requirement of precise inactivators for each mycotoxin along with the fear of the effect on the environment caused due to the utilization of inorganic absorbents in mycotoxin detoxifiers are some of the factors estimated to act as a barrier to the growth of the global feed mycotoxin detoxifiers market.

This report also studies existing competitive scenario of some of the key players of the global feed mycotoxin detoxifiers market, which includes profiling of Biomin Holding GmbH, Amlan International, Alltech Inc., Impextraco NV, Special Nutrients LLC, Kemin Industries, Inc., Perstorp Holding AB, Adisseo France SAS, Norel S.A. and Olmix Group (EPA: MLOLM).

The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled "Feed Mycotoxin Detoxifiers Market - Global Demand Analysis & Opportunity Outlook 2028", analyses the overall feed mycotoxin detoxifiers industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global feed mycotoxin detoxifiers market in the near future.

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