Feed Mycotoxin Binders and Modifiers Market Worth USD 2.77 Billion by 2022
PUNE, India, August 10, 2017 /PRNewswire/ --
The report "Feed Mycotoxin Binders and Modifiers Market, by Type (Binders, Modifiers), Livestock (Ruminants, Swine, Poultry, Aquatic Animals), Source (Inorganic, Organic), and Region (North America, Europe, Asia-Pacific, South America, and RoW) - Global Forecast to 2022", published by MarketsandMarketstm, the global Feed Mycotoxin Binders and Modifiers market is projected to grow at a CAGR of 3.6%, in terms of value, from 2017 and reach USD 2.77 billion by 2022.
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Browse 82 market data tables and 43 figures spread through 150 pages and in-depth TOC on "Feed Mycotoxin Binders and Modifiers Market - Global Forecast to 2022".
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Incidences of mycotoxin occurrence in crops, 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 the consumption of animal-based products are a few major drivers of the feed mycotoxin binders and modifiers market. The positive impact of research and technological advancements in feed mycotoxin binders and modifiers market provides feed mycotoxin binder and modifier manufacturers and distributors with lucrative opportunities. Hence, feed mycotoxin binders and modifiers will be viewed as a business opportunity in the next five years.
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Significant growth expected in the mycotoxin binders segment
Mycotoxin binders dominated the feed mycotoxin binders and modifiers market. They are used widely in all kinds of livestock as they are cost-effective and commercialized on a large scale, making them comparatively easy to procure. Another important advantage is that binders have no impact on the environment, neither are they affected by different climatic conditions, rendering them safe for use in all climatic zones. This also results in longer shelf life of the feed, which makes binders popular among manufacturers.
Swine segment, by livestock, is projected to be the fastest-growing during the forecast period
Mycotoxin contamination in swine generally affects the liver, gut, kidneys, and immune competent tissues in animals, which, in turn, results in reduced performance, and subdued metabolism & reproduction in swine. Thus, the prevention of mycotoxins needs to be ensured in the swine so as to reduce the negative effects of mycotoxin on swine health and performance. This drives the demand for mycotoxin binders and modifiers in the swine segment.
Inorganic segment is projected to grow at a relatively higher CAGR during the forecast period
These products have lower prices and ease of storage and usage, which results in an increased preference for these products over organic mycotoxin binders and modifiers. The effects of these products are well known, studied, and tested. These reasons drive the inorganic segment in the feed mycotoxin binders and modifiers market.
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Asia-Pacific to be the fastest-growing region during the forecast period
Increase in need for food security, high investment in R&D, and change in farming practices form the key to success in the Asia-Pacific region. Growth of population, progressive urbanization, and change in food habits among consumers (increase in demand for quality meat products) have spurred the demand for feed mycotoxin binders and modifiers in the region. China is estimated as the largest market for feed mycotoxin binders and modifiers in the region. Substantial growth is witnessed in India, Japan, Vietnam, and Thailand, due to the increase in purchasing power of the population and demand for protein-rich meat diets. These factors drive the Asia-Pacific region in the feed mycotoxin binders and modifiers market.
The key companies include 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). These are well-established and financially stable players that have been operating in the industry for several years.
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