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The feed mycotoxin binders and modifiers market is projected to grow at a CAGR of 3.6%, in terms of value, during the forecast period
The feed mycotoxin binders and modifiers market is projected to grow at a CAGR of 3.6% from 2017, to reach USD 2.77 billion by 2022. The demand for feed mycotoxin binders and modifiers is projected to be on the rise, owing to factors such as increasing incidences of mycotoxin occurrence in crops. All regions in the world, developed or developing, are susceptible to the harmful impact of these mycotoxins. High concentrations of mycotoxins in feed impact livestock health and performance. The growth of this market can be attributed to the high acceptance of mycotoxin binder and modifier products among farmers so as to reduce the mycotoxin contamination incidences in feed. The other drivers of the market include scientific studies establishing the positive impact of mycotoxin binders and modifiers on livestock health and performance, stringent regulations limiting the presence of mycotoxins in feed products, and increase in consumption of animalbased products. On the other hand, lower penetration rate in developing countries pose as the major restraint for the feed mycotoxin binders and modifiers market.
The market for mycotoxin binders, by type, is projected to grow at the highest CAGR
The mycotoxin binders segment, by type, in the feed mycotoxin binders and modifiers market is projected to be the fastestgrowing during the forecast period. Mycotoxin binders prevent or reduce exposure to mycotoxins. They are used widely as they are costeffective and are commercialized on a large scale, rendering them comparatively easy to procure. Awareness regarding the benefits of these binders is comparatively higher than that of modifiers as more research is being done on binders. These reasons make binders popular among manufacturers.
Poultry segment, by livestock, is set to dominate the feed mycotoxin binders and modifiers market
In 2016, the poultry segment accounted for the largest share in the global feed mycotoxin binders and modifiers market. Poultry is largely affected by mycotoxins; however, different poultry species respond differently to the challenges posed by mycotoxins. Thus, to reduce harmful effects in poultry, mycotoxin binders and modifiers are used to prevent the toxic effects of mycotoxins on the poultry.
AsiaPacific is projected to be the fastestgrowing region in the feed mycotoxin binders and modifiers market
AsiaPacific is projected to be the fastestgrowing market for feed mycotoxin binders and modifiers between 2017 and 2022. The largest producer in the region, China, continues to contribute to the region's leading position, with substantial growth witnessed in India and Japan. Pork and poultry are widely consumed in the AsiaPacific region. The demand for poultry is estimated to increase in India and China, due to the rise in population, increase in purchasing power, and changes in consumer food preferences. This increase in demand for meat protein has triggered meat production in the region, where uptake of feed mycotoxin binders and modifiers has increased and is expected to show a healthy growth.
Breakup of primaries:
By Company Type: Tier 1 50%, Tier 2 17%, and Tier 3 33%
By Designation: Director level 17%, Clevel 33%, and Others 50%
By Region: North America 16%, Europe 17%, AsiaPacific 50%, and Rest of the World 17%,
The global market for feed mycotoxin binders and modifiers is dominated by large players such as Kemin Industries, Inc. U.S., Cargill U.S., Alltech U .S., Adisseo France SAS France, BASF SE Germany, Archer Daniels Midland Company U.S., Nutreco N.V. Netherlands, and Bayer AG Germany, Novozymes A/S Denmark, Novus International, Inc. U.S., Norel S.A. Spain, BIOMIN Holding GmbH Austria, Perstorp Holding AB Sweden, Olmix S.A. France, Impextraco NV Belgium, and Nutriad International NV Belgium.
The feed mycotoxin binders and modifiers market has been segmented on the basis of type, livestock, source, and region. In terms of insights, this research report has focused on various levels of analysesindustry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and highgrowth segments of the global feed mycotoxin binders and modifiers market, highgrowth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
To get an overview of the global feed mycotoxin binders and modifiers market
To get an overview of the key players of the feed mycotoxin binders and modifiers industry and key strategies adopted by key players to increase market presence
To gain insights on the major regions in which the feed mycotoxin binders and modifiers market is growing
To gain knowledge of the growth of various feed mycotoxin binders and modifiers
Original Article: Feed Mycotoxin Binders and Modifiers Market by Type Binders, Modifiers, Livestock Ruminants, Swine, Poultry, Aquatic Animals, Source Inorganic, Organic, and Region North America, Europe, AsiaPacific, South America, and RoW Global Forecast to 2022 [ReportNEXT ARTICLE
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