The Latin America feed mycotoxin detoxifiers market is predicted to grow to USD 224.09 million in 2023 and is estimated to be growing at a CAGR of 3.3% and reach USD 263.59 million by 2028.
The Latin American feed mycotoxin detoxifiers market is developing at a significant rate due to the increase in the livestock population's consumption of meat as a source of protein. Mycotoxin detoxifiers, when used in animal feed, prevent the contamination of feed by mycotoxins, which are a collective group of natural chemicals (toxic secondary metabolites) that are produced by certain molds. These various mycotoxins contaminate the animal feed and negatively affect animals. These negative effects could range from problems related to reproduction and organ damage (liver/kidney) to a greater susceptibility to infectious diseases in animals. They can also affect the performance of these animals. To protect these animals from these negative effects, mycotoxin detoxifiers are used in animal fodder. They are specific for each mycotoxin and are required to be supplemented in animal feed to counter the adverse effects of mycotoxins.
The growth of the Latin America feed mycotoxin detoxifiers market is majorly driven by factors such as the rise in global meat consumption, a better understanding of the usage of mycotoxin detoxifiers among farmers, and the danger of diseases in livestock.
The competition for raw materials with other industries and the price volatility of agro-commodities also restrain the growth of this market.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 to 2028 |
|
Base Year |
2022 |
|
Forecast Period |
2023 to 2028 |
|
CAGR |
3.3% |
|
Segments Covered |
By Type, By Animal and by country |
|
Various Analyses Covered |
Global, Regional and Country Level Analysis; Segment-Level Analysis; DROC; PESTLE Analysis; Porter’s Five Forces Analysis; Competitive Landscape; Analyst Overview of Investment Opportunities |
|
Regions Covered |
Brazil, Mexico, Argentina, Chile, Rest of Latin America |
|
Market Leaders Profiled |
BASF SE Cargill, Inc Alltech, Inc Novozymes A/S Chr. Hansen Holding A/S Archer Daniels Midland Company Charoen Pokphand Foods Public Company Limited Nutreco N.V Evonik Industries AG Adisseo France SAS. |
This market research report on the Latin America feed mycotoxin detoxifier market is segmented and sub-segmented into the following categories.
Latin America Feed Mycotoxin Detoxifiers Market - By Type:
Latin America Feed Mycotoxin Detoxifiers Market - By Animal:
Latin America Feed Mycotoxin Detoxifiers Market – By Country:
The Latin American market is one of the fastest-growing markets for the feed Mycotoxin Detoxifiers market. Brazil accounts for the largest market share and is expected to lead the market during the forecast period. The Latin America region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among consumers about the quality of meat products and due to the rise in disposable incomes in developing economies, primarily in Brazil. Hence, the need to prevent the contamination of animal feed is paramount.
KEY MARKET PLAYERS:
BASF SE, Cargill, Inc, Alltech, Inc, Novozymes A/S, Chr. Hansen Holding A/S, Archer Daniels Midland Company, Charoen Pokphand Foods Public Company Limited, Nutreco N.V., Evonik Industries AG, Adisseo France SAS. Are some of the major key players involved in the Latin America feed mycotoxin detoxifier market.
Frequently Asked Questions
The current size of the Latin America feed mycotoxin detoxifiers market is USD 224.09 million in 2023.
The Latin America feed mycotoxin detoxifiers market is expected to reach at USD 263.59 Million by 2028.
Brazil accounts for the largest market share and is expected to lead the market during the forecast period. The Latin America region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among consumers about the quality of meat products.
BASF SE, Cargill, Inc, Alltech, Inc, Novozymes A/S, Chr. Hansen Holding A/S, Archer Daniels Midland Company, Charoen Pokphand Foods Public Company Limited, Nutreco N.V., Evonik Industries AG, Adisseo France SAS. Are some of the major key players involved in the Latin America feed mycotoxin detoxifier market.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1600
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region