New York, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The mycotoxin binders market is set to grow at a rate of 5.0%, with revenues expected to rise from US$2,322.6 million in 2023 to approximately US$3,796.9 million by 2033.
Mycotoxin binders are substances added to animal feed to capture mycotoxins, preventing them from entering the bloodstream. Mycotoxins can cause significant harm to animals, and these binders work by tightly trapping and immobilizing them in the gastrointestinal tract of livestock. This process, known as adsorption, detoxifies mycotoxins from the animal body. Effective mycotoxin binders need to meet specific criteria, including high adsorptive capacity, selective binding to mycotoxins, irreversibility, safety, and scientific validation. The report focuses solely on mycotoxin binders, analysing market segments and factors influencing the commercial mycotoxin binders industry's growth.
The COVID-19 pandemic has had a substantial impact on the market, presenting a range of challenges and opportunities. Disruptions in the supply chain, such as transportation restrictions and workforce shortages, have affected the production and distribution of mycotoxin binders.
This report on the mycotoxin binders market covers recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and local market players, opportunities for emerging revenue, changes in market regulations, strategic growth analysis, market size, category market growth, application niches and dominance, product approvals, product launches, geographic expansions, and technological innovations in the market.
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Market Scope:
| Report Coverage | Details | |
| Market Revenue 2022 | US$ 2,322.6 Million | |
| Estimated Revenue 2032 | US$ 3,796.9 Million | |
| Growth Rate – CAGR | 5.0% | |
| Forecast Period | 2023-2033 | |
| No. of Pages | 250 Pages | |
| Market Segmentation | By Type, Animal Category, Region | |
| Regions Covered | North America, Latin America, Europe, South Asia & Pacific, East Asia, The Middle East & Africa | |
| Key Companies Profiled |
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Exploring Key Trends in the Mycotoxin Binders Market:
How the Changing Feed Industry Landscape Drives Growth?
Reports from global feed associations shed light on key trends indicating the flourishing state of the feed industry. The market is on a continuous expansion trajectory, expected to grow further due to the increasing global population and the rising popularity of meat and animal-derived products. This presents a significant growth opportunity for mycotoxin binder manufacturers.
According to the International Feed Industry Federation (IFIF), the annual world compound feed production is around 1 billion tons, contributing to a global feed industry turnover of approximately US$ 400 billion. Additionally, the United Nations Food and Agriculture Organization (FAO) forecasts a 60% increase in food demand by 2050. Animal protein, meat production, aquaculture, and dairy are expected to grow by 1.7%, 70%, 90%, and 55%, respectively, between 2010 and 2050.
Rising Use of Compound Feed Driving Mycotoxin Binder Sales Globally
Animal farms worldwide are increasingly adopting compound feed tailored for different age groups of animals, providing a blend of raw materials and additives. This trend benefits additive suppliers, offering advantages such as improved performance, convenience, consistency, efficiency, economy, quality, traceability, service, nutrition, and a good return on investment. The FAO projects the compound feed market to exceed US$ 500 billion by 2023, driven by high demand for nutritious meats, organized farming, precision nutrition, and increased consumption of animal-based foods.
Poultry Growth Boosting Feed and Feed Additive Demand
The demand for poultry products, especially ready-to-eat options, is surging globally. In the Middle East & Africa (MEA) region, poultry production has grown rapidly but lags behind consumption, leading to increased imports. The U.S. has witnessed significant growth in poultry shipments, particularly to Iraq and the United Arab Emirates, regions prone to high mycotoxin contamination due to favorable temperature conditions. This production and trade surge creates optimistic growth opportunities for mycotoxin binder manufacturers, aligning with the expanding demand for animal feed and additives.
Global Climate Change Fuels Mycotoxin Contamination
The ongoing rise in global temperatures is expected to elevate mycotoxin occurrences in animals and crops. This, in turn, will drive the use of toxin binders in animals and pesticides in plants. With more regions experiencing mycotoxin infestations, the global food and feed supply chain will witness increased modifications of mycotoxins. The market for mycotoxin binders will be propelled by countermeasures like the use of binders and increased investment in research and development for new products with superior results.
According to NOAA's 2020 Annual Climate report, the combined temperature of the land and ocean has increased by an average of 0.13oF (0.08oC) per decade since 1880.
Presence of Alternative Mycotoxin Eliminators in the Market
The contamination caused by mycotoxins significantly impacts food and feed availability worldwide. As producers seek ways to hinder the growth of crops and animals, various solutions, both inorganic and organic mycotoxin binders, are available. This dynamic demand poses challenges to the market expansion of inorganic mycotoxin binders. Research in the World Mycotoxin Journal suggests alternative detoxification methods, including organic binders like yeast cell wall components, synthetic polymers (cholestyramine, polyvinylpyrrolidone), dietary fibers, and humic substances.
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Market Dynamics:
Drivers: The world has identified over 500 mycotoxin strains, with significant ones like aflatoxins (B1, B2, G1, G2, and M1), ochratoxin A, deoxynivalenol, and fumonisins commonly found in livestock feed. Diseases caused by these mycotoxins are increasing globally. Regardless of the region's development status, all areas are vulnerable to the harmful effects of these mycotoxins. According to the FAO, about 25% of crops worldwide carry mycotoxins. To enhance the well-being and productivity of livestock, farmers are expected to use mycotoxin binders and modifiers.
Restraints: Many livestock growers don't see mycotoxin binders and modifiers as essential additives. Instead, they prefer using other additives like mold inhibitors, acidifiers, and preservatives to enhance livestock feed for longer shelf life and improved animal health. The perception that mycotoxin binders and modifiers add extra costs acts as a restraint to market growth. To overcome this hurdle, there is a need to educate livestock growers about the risks associated with mycotoxins and the benefits of using mycotoxin binders and modifiers.
Opportunities: Despite minor setbacks from Covid-19, there are significant growth opportunities for mycotoxin binders and modifiers, especially in developing countries like China, India, Brazil, and Argentina. Poultry and aquaculture rearing in feedlots present significant growth sectors for the use of mycotoxin binders and modifiers in South America and the Asia Pacific region due to their large-scale farming. The focus on feed safety and livestock health, driven by increasing meat consumption and feed demand, creates opportunities for the use of mycotoxin binders and modifiers. The emphasis on feed product quality in these emerging markets also provides a significant growth opportunity. Additionally, constant disease outbreaks among livestock can influence the usage and market development opportunities for mycotoxin binders and modifiers as regulatory bodies globally adopt control measures for feeding practices to ensure feed and food safety.
Challenges: Mycotoxin binders and modifiers are employed to counter mycotoxin contamination in livestock. While they reduce the negative effects of mycotoxins in feed, not all binders work the same way. Each binder has a unique binding capacity, varying based on its source. Even similar clay products may have different efficiency levels. In some regions like the EU, there's a maximum inclusion level for clay in feed to bind aflatoxin B1; however, there's a risk of binding with existing nutrients, even at lower levels. Undesirable binding results can reduce efficiency against mycotoxins, potentially impacting the availability of essential nutrients for livestock growth and production. Farmers using mycotoxin detoxifiers might be unaware of such consequences.
Market Segmentation:
The market is split into different products like bentonite, LSCAS, zeolites, live yeast, and others. In 2023, LSCAS had the highest market value at USD 79.1 Million. LSCAS, or Liver Source of Condensed Tannins, is becoming popular in the feed industry because it naturally and sustainably helps reduce mycotoxin risks in livestock. It binds with mycotoxins in the digestive tract, meeting the industry's demand for versatile mycotoxin binders. Zeolites, known for their porous structure, contribute to better animal health by absorbing and trapping mycotoxins. They are adaptable to various mycotoxin challenges, leading to increased usage. Live yeast, with beneficial strains like Saccharomyces cerevisiae, is becoming a valuable feed supplement, promoting digestive health and nutrient use in livestock.
In terms of livestock, the Mycotoxin Binders market is divided into poultry, swine, ruminant, aquaculture, equine, and others. Poultry had the largest market share of around 47% in 2023. Livestock growth varies across categories like swine, ruminant, aquaculture, equine, and others. Swine benefit from genetic improvements and better disease management, while ruminants embrace sustainable farming. Aquaculture is expanding to meet global seafood demand, leading to innovations in feed. The equine sector focuses on specialized nutrition and wellness. In these diverse categories, adapting to consumer trends, technology, and regulations is crucial for the industry's evolution, requiring stakeholders to stay informed for optimal production and animal welfare.
In North America, the U.S. dominates the Mycotoxin Binders market, holding a significant majority share and generating USD 20.1 million in revenue in 2023. This strong position reflects the nation's leading role in developing effective solutions for mycotoxin challenges in animal feed. With advanced research and development capabilities, a robust agricultural sector, and strict regulatory standards, the U.S. excels in producing high-quality mycotoxin binders that meet compliance requirements. The country's well-established distribution networks and infrastructure also contribute to efficient supply chains.
Competitive Landscape:
Major companies are aiming their products specifically at those in the feed industry. They are also working on providing products that function better and are more efficient. About half to slightly more than half (50-55%) of the global mycotoxin binders industry is dominated by big multinational companies offering a variety of products. Key players like Biomin, BASF SE, Alltech, Impextraco NV, Perstorp Holding AB, and Cargill Incorporated play a significant role in the global mycotoxin binders market. Regional players make up 25-35% of the market share, while local players contribute 5-10%. Local players operate on a smaller scale, mainly focusing on providing mycotoxin binders and often engage in export activities.
- In March 2021, Biomin introduced its latest mycotoxin risk management solution, Mycofix Plus 5.Z with Enzyme. However, this product is specific to certain regions and has been launched in selected markets in the Asia Pacific region. It is a purified enzyme designed for breeding animals and their offspring, specifically breaking down zearalenone (ZEN) into non-toxic and non-estrogenic metabolites quickly and irreversibly.
- Micron Bio-Systems rolled out Mycocheck, a comprehensive analytical service tailored for mycotoxin analysis in animal feed and bedding materials. Mycocheck uses ultra-high-performance liquid chromatography-mass spectrometry (UHPLC-MS/MS) for analysis. The method (TW060) used by Mycocheck is fully accredited by the United Kingdom Accreditation Service (UKAS) to ISO 17025.
- Special Nutrients offers mycotoxin binders in the form of either activated, broad-spectrum, hydrated, sodium/calcium aluminosilicate (HSCAS) or surface-activated Bentonite (Organoclay). These binders are specially designed to control mycotoxins that affect the health and productivity of animals. The product can be easily added to the micro-ingredients premix before mixing with major ingredients, ensuring a homogeneous mixture.
- In December 2018, the technical team of Impextraco NV participated in the International Forum on Mycotoxins In Animal Feed in Curitiba, Brazil. The focus was on the evolution in mycotoxin detection and management throughout the entire production chain, along with the final biochemical effects on animals. Impextraco NV shared its expertise in mycotoxin eliminators, specifically discussing the impact of fumonisins on a set of immunological biomarkers in broilers.
Key Questions Answered in the Report:
- What are the contributing factors to the market's growth trends?
- What is the current market size, and how is it expected to change in the upcoming years?
- What are the key elements exerting influence on the market?
- How is the Mycotoxin Binders market segmented, considering types, applications, fuels, or other relevant factors?
- Who are the major participants in the Mycotoxin Binders market?
- What strategies are these players employing to establish a competitive edge?
- What factors are propelling the expansion of the Mycotoxin Binders market?
- Which regions are anticipated to witness notable growth, and what are the driving factors behind it?
- What recent technological advancements are impacting the Mycotoxin Binders industry?
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