The major factors driving the feed mycotoxin binders & modifiers market include the increase in demand and consumption of livestock based products, rise in incidences of mycotoxin occurrence in crops, stringent regulations limiting the presence of mycotoxin in feed products, and global increase in the risk of mycotoxin contamination in livestock feed. A further rise in health awareness among consumers is also expected to drive the market.
The feed mycotoxin binders & modifiers market is projected to grow from USD 2.5 billion in 2019 to USD 3.0 billion by 2025, at a compound annual growth rate (CAGR) of 3.6% during the forecast period.
Clay is projected to be the fastest growing subsegment of mycotoxin binders during the forecast period.
The feed mycotoxin binders & modifiers market has been segmented, based on type, into mycotoxin binders and mycotoxin modifiers. Mycotoxin binders are sub segmented into clay, bentonite, and others (organic polymers, synthetic polymers, and activated carbon). Mycotoxin modifiers are sub segmented into enzymes, yeast, bacteria, and others (algae and fungi). Clay is projected to be the largest and fastest growing subsegment of mycotoxin binders during the forecast period. This is attributed to its wide availability on a commercial level.
The poultry segment is projected to account for the largest market share during the forecast period.
The feed mycotoxin binders & modifiers market has been segmented, on the basis of livestock, into poultry, ruminants, swine, aquatic animals, and others (equine and pets). The poultry segment is projected to be the largest segment in the feed mycotoxin binders & modifiers market. This is attributed to the rising consumption of chicken and eggs. Further, chicken is more susceptible to mycotoxin risk, which has led to the extensive use of feed mycotoxin binders & modifiers in poultry.
Asia Pacific is projected to be the fastest-growing region during the forecast period.
Asia Pacific is projected to be the fastest-growing region during the forecast period. The market in the region is driven by the presence of a large livestock population and their rising growth. Furthermore, the region has witnessed a significant presence of mycotoxin in crops. Moreover, this region has witnessed an increase in the number of feed mills and feed production, particularly in countries such as India. Additionally, there has been a rise in the demand for meat and meat products, specifically poultry and pork, which is driving the market for feed mycotoxin binders & modifiers in this region.
Major vendors in the feed mycotoxin binders & modifiers market include Cargill (US), BASF (Germany), ADM (US), Bayer (Germany), Perstorp (Sweden), Novus (US), BIOMIN (Austria), Impextraco (Belgium), Norel (Spain), Chr. Hansen (Denmark), Nutreco (Netherlands), Kemin (US), Adisseo (France), GLOBAL Nutritech (Turkey), and Alltech (US).
