As
the amount of disposable income continues to increase among urban
populations residing in the metropolitan areas across the world, the
food industry is flourishing. And, as a result, the demand for
poultry products is on the rise. For a profitable yield from a farm,
the organizations have to maintain a quality diet with nutrients for
the pigs. Mycotoxin binders are now replacing mold inhibitors as they
lack effectiveness, while the former can be added to the diet of the
pigs to avoid them from absorbing toxins found in the feed. According
to an up to date business intelligence report by Transparency Market
Research (TMR), the demand in the global mycotoxin binders market
will increment at an impressive CAGR of 9.7% during the forecast
period of 2017 to 2025, by the end of which the opportunities are
estimated to translate into a revenue of US$387.4 million.
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The
analyst of the TMR report has detected that major players operating
in the mycotoxin binders market are focused on enhancing their
product portfolio, which helps them cater to a wider range of end
users. And to create a niche, major players such as Bayer, BASF, E.I.
du Pont, Cargill, Syngenta International, Kemin Industries,
Impextraco, Nutreco, Novus International, and Biomin are investing
heavily on research and development activities.
Based
on product type, the TMR report has segmented the mycotoxin binders
market into polysaccharides, zeolites and other treated
aluminosilicates, and raw clay. The animal types that have been
evaluated for their demand potential are: equine, pet, aqua,
ruminant, swine, poultry, and others. Geographically, Asia Pacific
has been foreseen as the region that will cultivate the most
prominent chunk of demand in the global mycotoxin binders market.
This rise of the APAC mycotoxin binders market can be attributed to
growing awareness regarding the benefits and return of investment by
farm organizations.
Often,
as a result of fungi and insect infestation, the plant-based raw
materials of animal feed lose their nutritious values, which can be
adequately sufficed by mycotoxin
binders, and hence a flourishing market for the same. As the
awareness regarding the benefits of this additives expands, more and
more farm owners are investing on mycotoxin binders in order to
prevent their animals from contaminated feed, which in turn improves
their meat quality. Across the world, the trend in the food industry
is organic products, and usage of mycotoxin binders passes the
requirements too.
Growing
incidences of mycotoxin occurrence in crops, increase in the
consumption of animal-based products, and high expectation from the
current R&D activities to increment application horizons are some
of the other factors expected to augment the demand in the mycotoxin
binders market in the near future. On the other hand, lower
penetration rate in a number of emerging economies is curtailing the
market from performing at its optimum potential.
Key
Takeaways:
- Global mycotoxin binders market is estimated to be worth US$387.4 million by 2025
- Resilient aspiration of farm organizations to increment yield and quality of meat are the key drivers of the market
- Major players are focused on research and development activities to expanding application horizons and make greater profits
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