Prominent
participants in the global mycotoxin binders market are focusing on
augmenting their product portfolios in order to reach out to a wider
customer pool. For this, they are investing heavily in research and
development to come up with new products or improve existing ones.
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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A
report by Transparency Market Research predicts the global mycotoxin
binders market to register a healthy 9.7% CAGR during the period
between 2017 and 2025. Rising at this pace, the market which is
expected to be worth US$184.1 mn by the end of 2017 will likely
become worth US$387.4 mn by 2025.
Depending
upon the product type, the global mycotoxin binders market has been
classified into raw clays, zeolites and other treated
aluminosilicates, polysaccharides, etc. Of them, zeolites and other
treated aluminosilicates is predicted to account for maximum market
share. The TMR report predicts the two segments to together account
for about 37.1 % of market share in 2017.
Geography-wise,
the key segments of the global market for mycotoxin binders are North
America, Latin America, Europe, Asia Pacific excluding Japan, Japan,
and the Middle East and Africa. Latin America, among them, is slated
to outpace all other segments vis-à-vis growth rate by clocking a
solid 11.0% CAGR in the forecast period from 2017 to 2025. This is
because of the rising knowledge about the use of mycotoxins in feed
and its effects and increasing investments by companies in research
and development to come up with better products.
Ability
to Enhance Quality of Meat Stokes Demand
Animal
feeds are prone to mold growth and mycotoxin contamination. Mycotoxin
binders are added to feed to prevent animals from absorbing
toxins that maybe present in those. With an ever-increasing world
population, urbanization, and changing food habits of people,
especially in the Asia Pacific region, demand for meat and poultry
products has skyrocketed. This, in turn, has generated demand for
feed mycotoxin binders, particularly in Asia Pacific.
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.
Changing
Climate Globally Proves Beneficial for Market
Besides,
changing climatic conditions around the world is serving to up insect
and fungi infestations in animal feeds, which will further increase
demand for pesticides and fungicides. With a high degree of
infestations occurring in regions where contamination was previously
negligible, global food and feed supply chain will encounter more
modified mycotoxins and an overall increase in occurrences. This is
expected to prove beneficial to the market for mycotoxin binders as
well.
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.
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