New York, United States , June 17, 2024 (GLOBE NEWSWIRE) -- The Global Feed Mycotoxin Binders and Modifiers Market Size is to Grow from USD 2.51 Billion in 2023 to USD 3.49 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.35% during the projected period.
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Several fungi can create harmful chemicals called mycotoxins, which can affect a range of agricultural products, including cereals and forages. Mycotoxin binders are compounds specifically made to bind or adsorb mycotoxin in the gastrointestinal tract of animals, hence preventing mycotoxin absorption into the circulatory system. In a similar vein, substances known as mycotoxin modifiers detoxify or alter the chemical structure of mycotoxins to reduce their toxicity. They typically have microbes or enzymes that can break down mycotoxins or change them into less hazardous forms. Additionally, the market for feed mycotoxin binders and modifiers is anticipated to grow during the forecast period as a result of factors involving increased crop mycotoxin occurrence and increased risks of mycotoxin contamination in animal feed. Due to stringent regulations limiting the quantity of feed products and increased consumer demand for livestock-based products, the market for feed mycotoxin binders & modifiers is growing. The growth of fungi lowers nutrition and raises the possibility of mycotoxins. Controlling the development of mycotoxin is now dependent on mycotoxin binders and modifiers. However, the market expansion for feed mycotoxin binders and modifiers is hindered by the extensive use of mold inhibitors, acidifiers, and other feed preservatives as feed additives, as well as a lack of knowledge among small-scale animal producers.
Browse key industry insights spread across 203 pages with 110 Market data tables and figures & charts from the report on the “Global Feed Mycotoxin Binders and Modifiers Market Size, Share, and COVID-19 Impact Analysis, By Type (Feed Mycotoxin Binders, Clay, Bentonite, Feed Mycotoxin Modifiers, Enzymes, and Yeast), By Livestock (Poultry, Swine, Ruminants, Aquatic Animals, and Others), By Source (Inorganic and Organic), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The clay segment is anticipated to grow at the highest share in the global feed mycotoxin binders and modifiers market during the projected timeframe.
Based on the type, the global feed mycotoxin binders and modifiers market is divided into feed mycotoxin binders, clay, bentonite, feed mycotoxin modifiers, enzymes, and yeast. Among these, the clay segment is anticipated to grow at the highest share in the global feed mycotoxin binders and modifiers market during the projected timeframe. A naturally occurring clay mineral has a high adsorption capacity for mycotoxins.
The poultry segment is predicted to dominate the feed mycotoxin binders and modifiers market during the estimated period.
Based on the livestock, the global Feed mycotoxin binders and modifiers market is divided into poultry, swine, ruminants, aquatic animals, and others. Among these, the poultry segment is predicted to dominate the feed mycotoxin binders and modifiers market during the estimated period. Rising concerns about animal health, such as egg production quantity and quality, increased the application of mycotoxin binders and modifiers in poultry feed.
The inorganic segment is anticipated to dominate the global feed mycotoxin binders and modifiers market during the projected timeframe.
Based on the source, the global feed mycotoxin binders and modifiers market is divided into inorganic and organic. Among these, the inorganic segment is anticipated to dominate the global Feed mycotoxin binders and modifiers market during the projected timeframe. Inorganic products have various importance over organic modifiers, including reduced pricing and ease of storage and handling.
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North America is expected to hold a significant share of the global Feed mycotoxin binders and modifiers market over the forecast period.
North America is expected to hold a significant share of the global Feed mycotoxin binders and modifiers market over the forecast period. The market will expand due to the region's strict meat quality regulations and growing per capita meat consumption. It is anticipated that the existence of significant market players in the US, such as Cargill Incorporated, Kent Nutrition, Archer Daniels Midland, and others, will encourage market growth. Moreover, as meat consumption develops, the North American region is fast growing. Moreover, animal welfare is becoming a more important priority for individuals in North America in addition to their health. Therefore, to guarantee that animals receive the right nutrients, market participants in the animal feed industry must provide incredibly efficient feed. Consequently, feed mycotoxin binders and modifiers are seeing growth in the local market.
Asia Pacific is predicted to grow at the fastest pace in the global Feed mycotoxin binders and modifiers market during the projected timeframe. The government is increasingly attempting to limit the amount of mycotoxin in feed because of the enormous number of cattle. In addition, the Asia Pacific region has seen a notable rise in the production and consumption of meat, especially chicken and pork, which is expected to fuel market demand. The region's population is mostly dependent on livestock and its byproducts, and livestock production is rising overall. The feed mycotoxin binders and modifiers market in India is expanding as a result of the increased use of feed additives and other health-related products to maintain feed quality and herd health. Controlling mycotoxin in poultry is essential. Poultry productivity and performance are directly impacted by mycotoxins.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Feed Mycotoxin Binders and Modifiers Market are Archer Daniels Midland (ADM), Kemin, Biomin, Cargill, Chr. Hansen Holdings A/S, Adisseo, BASF SE, Perstorp, Impextraco, Global Nutritech, Norel, The Archer-Daniels-Midland Company, Bayer AG, Novus International Inc., and Others Key Vendors, and Others Key Players.
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Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In February 2024, Manitoba Harvest, the hemp food behemoth, partnered with Brightseed, the bioactives pioneer, to produce Manitoba Harvest Bioactive Fiber, which includes psyllium husk fiber and Bio Gut Fiber, a component derived from repurposed hemp hulls.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Feed Mycotoxin Binders and Modifiers Market based on the below-mentioned segments:
Global Feed Mycotoxin Binders and Modifiers Market, By Type
- Feed Mycotoxin Binders
- Clay
- Bentonite
- Feed Mycotoxin Modifiers
- Enzymes
- Yeast
Global Feed Mycotoxin Binders and Modifiers Market, By Livestock
- Poultry
- Swine
- Ruminants
- Aquatic Animals
- Others
Global Feed Mycotoxin Binders and Modifiers Market, By Source
- Inorganic
- Organic
Global Neurorehabilitation Devices Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
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