Feed Mycotoxin Detoxifiers - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

Feed Mycotoxin Detoxifiers - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2017 - 2029

The Feed Mycotoxin Detoxifiers Market size is estimated at USD 2.25 billion in 2024, and is expected to reach USD 2.86 billion by 2029, growing at a CAGR of 4.91% during the forecast period (2024-2029).

• 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.

• 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.​

Global Feed Mycotoxin Detoxifiers Market Trends

High demand for animal protein and poultry products such as eggs with increasing investment in poultry sector is increasing poultry population

• The poultry population witnessed a significant increase in recent years, primarily due to the growing demand for chicken meat and eggs in daily diets. The shift toward poultry products has been driven by the increasing prices of other meat, such as pig meat, in the United States. The consumption of eggs in Europe increased by 4.6% during 2017-2021, accounting for 6,135 metric tons in 2021.
• Asia-Pacific is the largest producer of poultry birds, with production increasing by 6.6% in 2022 compared to 2017. The rise in poultry production is due to the growing demand for animal protein following the outbreak of African swine fever, which reduced the supply of pork meat. China, which accounts for 40% of global production, has more than 900 million stock-laying hens, and the largest layer poultry farming center can hatch 60 million chicks per year.
• The Middle East is also expected to witness growth in poultry production during the forecast period (2023-2029). Companies such as Almarai in Saudi Arabia invested heavily in the sector, with USD 1.12 billion spent on establishing new farms to expand production.
• The increasing demand for poultry products and rising investments in the poultry sector are expected to strengthen the growth of feed production, which is expected to drive the demand for feed additives during the forecast period. Overall, the poultry industry is poised for significant growth in the coming years, driven by the shift toward poultry products and increasing investments in the sector.

The growing demand for seafood consumption in Asia-Pacific and South America, and government initiatives is increasing the feed production for aquaculture species

• The demand for feed is rapidly increasing due to the expansion of aquaculture, which is driving the growth of compound feed production. In 2022, compound feed production increased by 13.1% compared to 2021, and fish feed production increased by 46.3% during 2017-2022. The rise in consumption of fish feed is driven by the need to maintain and improve the performance of aquatic animals and increase productivity to meet the growing demand for seafood.
• Fish feed accounted for 73.2% of the global market in 2022, as fish is highly consumed and produced in Asia-Pacific. Shrimp and other aquatic species follow fish in the global market, with shrimp being highly imported by European countries and the United States from other regions. Countries are focusing on the expansion of aquaculture production to meet the growing demand for seafood. For instance, India increased its budget allocation to the department of fisheries from USD 114.1 million in 2020 to USD 168.8 million in 2021 to increase production, which is expected to boost the demand for feed during the forecast period.
• South America is experiencing an increase in feed production, which rose by 46.4% from 2017 to 5.1 million metric tons in 2022 due to the expansion of aquaculture farming. The region is one of the major seafood-consuming regions, and the increasing demand for seafood is driving the growth of aquaculture production.
• As aquaculture continues to expand to meet the growing demand, the development of the industry and a focus on its expansion are expected to fuel the growth of feed production for aquatic species, which is expected to boost the aquaculture segment during the forecast period.

Feed Mycotoxin Detoxifiers Industry Overview

The Feed Mycotoxin Detoxifiers Market is fragmented, with the top five companies occupying 26.48%. The major players in this market are Adisseo, Alltech, Inc., BASF SE, Brenntag SE and Cargill Inc. (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support