The global feed mycotoxin binders and modifiers market size was US$ 1.9 billion in 2021. The global feed mycotoxin binders and modifiers market is forecast to grow to US$ 3.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 4.1% during the forecast period from 2022 to 2030.
Mycotoxins can be particularly toxic to humans as well as animals and can be the cause of different medical conditions. The feed binders for mycotoxin function are used as a mycotoxin detoxifying agent. These binders efficiently decline the mycotoxin bioavailability in the feed. These large molecular weight compounds in the form of binders consume the toxin in the intestines. Apart from that, it also eliminates or minimizes animal exposure to mycotoxins.
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Factors Influencing the Market
The growing incidences of the presence of mycotoxin in crops will fuel the growth of the feed mycotoxin binders and modifiers market. Disease outbreaks are becoming more common as a result of them. The worlds developed and developing regions are both prone to the negative impacts of these mycotoxins. As a result, it will open doors of opportunities for the mycotoxin binders and modifiers market.
The rise of the market for animal flesh is primarily responsible for the growth of the feed binder sector. Increasing global meat consumption and animal health concerns have prompted the industry to buy safe feed mycotoxin binders and modifiers. Apart from that, growing R&D for better manufacturing and management techniques will also contribute to the growth of the feed mycotoxin binders and modifiers market during the analysis period.
Feed manufacturers are continuously making efforts on increasing the nutritional value, shelf-life, and consistency of the feed. Thus, it will offer lucrative growth opportunities for the feed mycotoxin binders and modifiers market. On the flip side, a lack of awareness related to feed mycotoxin binders and modifiers may limit the growth of the feed market during the forecast period.
COVID-19 Impact Analysis
Due to the COVID-19 pandemic, meat consumption among people reduced dramatically. The industry experienced a sharp loss due to changes in eating patterns, which ultimately affected the linked industries. The global feed mycotoxin binders and modifiers market also experience a sharp drop due to manufacturing disruptions caused by the pandemic.
Regional Analysis
The Asia-Pacific feed mycotoxin binders and modifiers market is forecast to record the highest growth rate of all the regions. The growth of the feed mycotoxin binders and modifiers market is attributed to the rising consumption rate of meat products in East Asia. Further, the growing population of the region and changing dietary habits aimed at consuming nutrition-rich food will offer ample growth opportunities for the feed mycotoxin binders and modifiers market.
Competitors in the Market
• Archer Daniels Midland Company
• BASF SE
• BIOMIN Holding GmbH
• Cargill, Incorporated
• Kemin Industries, Inc.
• Novus International
• Nutreco N.V.
• Nutriad
• Perstorp Holding
• Other Prominent Players
The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Feed Mycotoxin Binders and Modifiers industry experienced notable growth in its workforce. Starting in January, employment within the Feed Mycotoxin Binders and Modifiers sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Feed Mycotoxin Binders and Modifiers output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Feed Mycotoxin Binders and Modifiers output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Feed Mycotoxin Binders and Modifiers market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Feed Mycotoxin Binders and Modifiers market.
Market Segmentation
The global feed mycotoxin binders and modifiers market segmentation focuses on Type, Livestock, and Region.
By Type:
• Feed mycotoxin binders
• Clay
• Bentonite
• Others
• Feed mycotoxin modifiers
• Enzymes
• Yeast
• Bacteria
• Others
By Livestock:
• Ruminant
• Poultry
• Swine
• Aquaculture
• Pets
• Horses
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
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