The global feed mycotoxin binders and modifiers market is predicted to escalate from USD 2.40 billion in 2020 to USD 3.09 billion by 2028, with a CAGR of 3.3% during the expected time. The augmenting requirement for feed mycotoxin binders and modifiers among the population and increasing inclination towards natural growth promoters are the factors propelling the market demand for feed mycotoxin binders and modifiers.
Mycotoxin binders are organic or synthetic compounds that are mixed with the livestock feed in order to restrict the entry of mycotoxins into the animal bloodstream. The increasing prevalence of mycotoxin-contaminated livestock feed, along with the surging demand and consumption of livestock and feed products, are propelling the market for feed mycotoxin binders and modifiers market.
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Many companies are focusing on strategies such as novel product launches, patent and product approvals, partnerships, collaborations, and acquisitions to embed their market spot. The steady process in the market is foretold to open new possibilities for the emerging market players as well as leading market players.
The COVID-19 pandemic has created a downfall of the total feed mycotoxin binders and modifiers market. The lockdown has led to a reduction in the workforce and disruption of the supply chain and production.
Archer Daniels Midland Company, Cargill, BASF SE, Alltech, Inc., Kemin Industries, Inc., Novus International, BIOMIN Holding GmbH, and Nutriad are the leading market players in the feed mycotoxin binders and modifiers market.
For this study, Reports and Data has segmented the global feed mycotoxin binders and modifiers market based on Type, Livestock, Source, Form, and Region:
On the basis of Type (Revenue, USD Billion, 2021 – 2028) Feed mycotoxin binders
Feed mycotoxin modifiers
On the basis of Livestock: (Revenue, USD Billion, 2021 – 2028)
- Aquatic animals
On the basis of Source: (Revenue, USD Million, 2021 – 2028)
On the basis of Form: (Revenue, USD Million, 2021 – 2028)
On the basis of Region: (Revenue, USD Million, 2021 – 2028)
- North America
- Asia Pacific
- South America
- Middle East & Africa
Further key findings:
- On the basis of type, the binders are preferred over modifiers due to the easy availability and affordability of binders. Clay and bentonite are the types of binders that are commonly used. Clay segment led the market share and is expected to maintain the highest revenue during the projection period.
- The increased demand for clay binders is accredited to the improved knowledge regarding high commercialized clay binders.
- Based on the form, the dry form is predicted to occupy a large market share during the projected time. The main reason for the high demand for the dry form is that it is easily mixed with feed ingredients. It has other benefits such as better shelf-life and easy storage as compared to the liquid forms.
- Poultry is the fastest-growing segment based on the livestock section. The increasing desire for poultry meat and eggs and the growing health concerns of poultry birds has expanded the market for feed mycotoxin binders and modifiers.
- The swine segment held supremacy in 2020 and is evaluated to grow at a considerable pace during the projection period. Breeding and young pigs are the most susceptible to mycotoxin contamination.
- North America dominated the global feed mycotoxin binders and modifiers industry in 2020 due to the increasing acceptance of using feed mycotoxin modifiers and binders and the rising safety cognizance of mycotoxin reduction among the crowd. Additionally, the stringent regulations about feed quality are boosting the market demand.
- The market in the Asia Pacific region is expected to observe the quickest growth in the projected period. The development is accounted to the growing livestock population, increasing government schemes to control mycotoxin levels in the feed. The rising consumption of chicken and pork in the Asia Pacific region is expected to escalate the demand for feed mycotoxin binders and the modifiers market.
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Key insights presented in the report:
- Market revenue shares by major business players, by type, application, and market scope of global Feed Mycotoxin Binders And Modifiers market
- Sales revenue by key players and new entrants
- Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
- Recent mergers, acquisitions, product launches, recent investments, and joint ventures regional analysis to provide insight into recent trends and opportunities
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Drip Irrigation Market Variables, Trends & Scope
Chapter 4. Consumer Behavior Analysis
Chapter 11. Company Profiles
11.1. Alltech, Inc.
11.1.1. Company Overview
11.1.2. Financial Performance
11.1.3. Product Benchmarking
11.1.4. Strategic Initiatives
11.2. Archer Daniels Midland Company
11.2.1. Company Overview
11.2.2. Financial Performance
11.2.3. Product Benchmarking
11.2.4. Strategic Initiatives
11.3. BASF SE
11.3.1. Company Overview
11.3.2. Financial Performance
11.3.3. Product Benchmarking
11.3.4. Strategic Initiatives
11.4. BIOMIN Holding GmbH
11.4.1. Company Overview
11.4.2. Financial Performance
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