Global
Mycotoxin Binders Market: Snapshot
Leading
companies operating in the global market for mycotoxin binders are
pouring money into research and development of new and better
products. This way they are trying to tap into a larger customer base
and grow their sales and revenues.
Proving
to be a major growth driver in the global market for mycotoxin
binders is the rapid pace of urbanization and the consequent change
in food habits of people, leading to the increased demand for meat
and poultry products worldwide. This has necessitated the reduction
in feed wastage of livestock animals.
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With
high amounts of insect and fungi infestation, essential nutrients are
lost on the animal feed. Mycotoxin binders are added to those to
prevent the animals from ingesting toxins from the contaminated feed.
In this way they help to enhance the quality of the meat and also
cater to the increasing demand for organic meat.
Besides,
the market is also predicted to make gigantic strides on the back of
rapid industrialization. Posing a roadblock to the market, on the
other hand, is the requirement for specific inactivators for various
mycotoxins.
As
per Transparency Market Research, the global mycotoxin binders market
will likely rise at a healthy 9.7% CAGR from 2017 to 2025 to become
worth US$387.4 mn by 2025 from US$184.1 mn by the end of 2017.
Increasing
Consumption of Poultry Meat makes it Dominant Segment
The
global
mycotoxin binders market can be divided on the basis of type
into raw clays, zeolites and other treated aluminosilicates,
polysaccharides, etc. Zeolites and other treated aluminosilicates,
among those, are predicted to account for a relatively greater share
in market – about 37.1 % of market share by 2017. The segment is
slated to pull in revenue to the tune of US$778.6 mn by 2025 by
rising at a CAGR of 11.8% between 2017 and 2025.
Based
on the type of animal again, the global mycotoxin binders market can
be divided into swine, poultry, ruminant, aqua, pets, equine, etc.
Among them, the segment of poultry accounts for maximum market share
on account of enormous consumption of poultry meat worldwide. By
expanding at a CAGR of 10.4% between 2017 and 2025, the segment is
expected to rake in a revenue of US$686.3 mn by 2025. In terms of
growth, segment of ruminant will likely outpace all others to gain
maximum share. The report by TMR predicts the segment to clock a CAGR
of 11.5% from 2017 to 2025.
Powered
by China, Asia Pacific Leads Market
From
a geographical standpoint, currently Asia Pacific excluding Japan
leads the global mycotoxin binders market. The market in the region
is primarily powered by China. In terms of growth rate, on the other
hand, the market in Latin America is projected to outshine all others
by registering a CAGR of 11.0%. This is because of the rising
knowledge about mycotoxins in feed and its effects growing steadily
over time. Further, considerable increase of mycotoxins in the
upcoming years will also push up demand for mycotoxin binders in the
region. Another factor serving to boost the market in Latin America
is the thrust by most companies domiciled in the region on research
and development to come up with more effective products.
Some
of the key companies operating in the global market for mycotoxin
binders are BASF, Syngenta International, E.I. du Pont, Kemin
Industries, Bayer, Nutreco, Impextraco, Novus International, Cargill,
and Biomin.
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