North America feed Mycotoxin Detoxifiers market is projected to grow at a CAGR of 3.1% during the forecast period (2020 - 2025). The high prevalence of mycotoxins in animal feed crops such as maize due to unpredictable weather conditions affecting crop production with mycotoxins in the region. This in turn has stimulated the demand for mycotoxin detoxifiers in various animal feeds in the region. Further, the increase in demand for animal-based products in the region has augmented the demand for compound feed, thereby boosting the demand for feed mycotoxin detoxifiers in the region.
Key Market Trends
Increasing Animal Production is Driving the Market
The increase in demand for feed mycotoxin detoxifiers is largely attributed to an increase in demand for animal-based products in the region. For instance, In Canada, the commercial chicken and turkey meat production totaled 1.43 billion kilograms in 2018. The demand for poultry and egg products is growing. Over the last five years, food availability increased annually on average by 2.3% for chicken, 1.4% for turkey, and 2.5% for eggs. In Mexico, poultry is the most developed animal feed livestock subsector driven by high demand for poultry meat and eggs. The demand for animal-based products has led to a rise in the consumption of animal feed products in the region. Mycotoxin contamination in an animal feed is a serious problem faced by many livestock growers in the region. For instance, Mycotoxins have an estimated USD 5 billion impacts on the United States and Canadian animal industries annually. Hence there is an increase in demand for animal feed detoxifiers in the region which can mitigate the contamination losses in the animal feed, thereby boosting animal production in the region.
United States Dominates the Market
The country's weather conditions highly contributed to mycotoxins contamination in animal feed across various parts of the United States. For instance, In 2019, the spring floods in the northern plains and Midwest delayed planting and harvesting of maize crops, allowed the crops to stay longer in fields and expose more to mycotoxin. The most common mycotoxins which are highly prevalant in the country are aflatoxin, deoxynivalenol (also known as DON, vomitoxin), zearalenone and fumonisin Hence their an increase in demand for mycotoxin detoxifiers that can supress or reduce the absorption of mycotoxins in the animal feed. With many international companies such as Alltech, Alman International and Norel Animal Nutrition in the country, the market for feed mycotoxin detoxifiers is projected to grow during the forecast period.
Competitive Landscape
Alltech, Alman International and Norel Animal Nutrition are some of the major players who are operating in the region. These players are launching products that caters to the needs of animal feed industry in the region.
Reasons to Purchase this report:
Key Market Trends
Increasing Animal Production is Driving the Market
The increase in demand for feed mycotoxin detoxifiers is largely attributed to an increase in demand for animal-based products in the region. For instance, In Canada, the commercial chicken and turkey meat production totaled 1.43 billion kilograms in 2018. The demand for poultry and egg products is growing. Over the last five years, food availability increased annually on average by 2.3% for chicken, 1.4% for turkey, and 2.5% for eggs. In Mexico, poultry is the most developed animal feed livestock subsector driven by high demand for poultry meat and eggs. The demand for animal-based products has led to a rise in the consumption of animal feed products in the region. Mycotoxin contamination in an animal feed is a serious problem faced by many livestock growers in the region. For instance, Mycotoxins have an estimated USD 5 billion impacts on the United States and Canadian animal industries annually. Hence there is an increase in demand for animal feed detoxifiers in the region which can mitigate the contamination losses in the animal feed, thereby boosting animal production in the region.
United States Dominates the Market
The country's weather conditions highly contributed to mycotoxins contamination in animal feed across various parts of the United States. For instance, In 2019, the spring floods in the northern plains and Midwest delayed planting and harvesting of maize crops, allowed the crops to stay longer in fields and expose more to mycotoxin. The most common mycotoxins which are highly prevalant in the country are aflatoxin, deoxynivalenol (also known as DON, vomitoxin), zearalenone and fumonisin Hence their an increase in demand for mycotoxin detoxifiers that can supress or reduce the absorption of mycotoxins in the animal feed. With many international companies such as Alltech, Alman International and Norel Animal Nutrition in the country, the market for feed mycotoxin detoxifiers is projected to grow during the forecast period.
Competitive Landscape
Alltech, Alman International and Norel Animal Nutrition are some of the major players who are operating in the region. These players are launching products that caters to the needs of animal feed industry in the region.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Alltech
- Alman International
- Biomin Holding GmbH
- Special Nutrients, Inc
- Norel Animal Nutrition
- Kemin Industries, Inc
- Pfizer Animal Health (Zoetis)
Methodology
LOADING...
