Feed Mycotoxin Detoxifiers Market Trends

Growth Drivers

• Increasing Population Worldwide and the Growing Concern for Food Security
  According to The World Bank, the population of the world increased from 6.92 billion in the year 2010 to 7.59 billion in the year 2018.
  
  Along with the increasing population around the world, the concern for availability of food is also growing exponentially. To mitigate the issue of food security along with the focus of nations worldwide to end hunger so as to meet the goal number two of the sustainable development goals (SDGs), food manufacturers, farmers, and other individuals associated with the food chain are increasingly taking responsible action for reducing food wastage. The concern for the harmful impact of deadly diseases observed in meat providing animals affected by the consumption of mycotoxin infected food is resulting in huge investments for research and development of nutritious feed by the manufacturers of feed, so as to promote a healthy food chain all around. Such a factor is anticipated to drive the growth of the global feed mycotoxin detoxifiers market.
• Growing Demand for Animal Meat Protein
  According to the statistical report FAO Global Food Outlook November 2019, production of poultry type of animal protein around the world is estimated to increase to 130.5 million metric tons in the year 2019 from 124.6 million metric tons in the year 2018. Additionally, bovine and ovine type of animal protein is estimated to increase 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.
  
  Backed by the need for consumption of protein for a healthy lifestyle, the demand for animal meat protein has grown significantly over the years. Additionally, with the advent in certification methods for food products, such as halal foods and kosher food certifications, the exports of meat around the world have also achieved new heights, impacting towards the greater consumption of animal feed by the end users. Such a factor is anticipated to drive the growth of the global feed mycotoxin detoxifiers market.

Challenges

• Detrimental Effect on the Environment
  The fear of the effect on the environment caused due to the utilization of inorganic absorbents in mycotoxin detoxifiers, along with the concern for requirement of precise inactivators for each mycotoxin are some of the factors anticipated to hamper the growth of the global feed mycotoxin detoxifiers market throughout the forecast period.