The global feed mycotoxin binders market revenue was around US$ 175.6 million in 2023 and is estimated to reach US$ 420.8 million by 2032, growing at a compound annual growth rate (CAGR) of 10.2% during the forecast period from 2024 to 2032.
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One component of animal feed called feed mycotoxin binders traps mycotoxins and keeps them from getting into the bloodstream. Mycotoxin has the potential to seriously harm animals. These binders minimize the bioavailability of mycotoxins by firmly binding and immobilizing them in the gastrointestinal (GI) tract of livestock. Adsorption is another name for this process, which rids the body of mycotoxins in animals. The best mycotoxin binders should satisfy five requirements: they should only bind mycotoxins, have a high adsorptive capacity, be safe, irreversible, and supported by science.
Factors Influencing Market Growth
– There is an increasing focus on proper animal nutrition to raise healthy animals. This is increasing the demand for feed mycotoxin binders, propelling the market growth.
– The increasing egg and meat consumption around the world is contributing to the increase in demand for feed mycotoxin binders, which is driving market growth.
– The demand for mold inhibitors in animal feed is increasing to ensure a healthy GI tract in animals, which will propel the demand for feed mycotoxin binders, thus expanding the market.
– Strict government regulation policies among various countries may restrict market growth.
Impact of COVID-19
COVID-19 negatively impacted the market. This is due to a significant drop in the demand for meat products brought on by national health concerns as COVID-19 spread. Consequently, there was a simultaneous decline in the prices of the products and their production levels. For example, the feed industries in North America and Europe both experienced declines. The US National Pork Producers Council (NPPC) has verified that China has shut down five of its facilities that process Brazilian swine meat. Similar operations were carried out in the US and Europe to halt the second wave of the coronavirus in China. Market instability resulted from these conditions, and supply chain managers and logistics are obstructing the smooth operation of businesses.
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Regional Insights
During the projected period, North America is likely to witness the highest growth rate. This is due to the existence of significant manufacturers, including Kemin Industries, Inc., Alltech, Inc., Novus International, Inc., and Bentoli, Inc. that will fuel regional demand throughout the anticipated period. In addition, stringent food safety laws and the growing demand for meat and dairy products are some of the factors influencing the growth of the feed mycotoxin binders market. In addition, investors and governments that offer incentives to establish feed mycotoxin binder manufacturing plants will probably find opportunities in the market.
Leading Competitors
– Simfa Labs Pvt. Ltd.
– Koninklijke DSM N.V.
– SVH Holding N.V.
– EW Nutrition GmbH
– Cargill, Incorporated
– Perstorp Holding AB
– Virbac S.A.
– Impextraco N.V.
– Alltech, Inc.
– Olmix S.A.
– GLOBAL NUTRITECH
– Clariant Ltd.
– BASF SE
– Norel, S.A
– Bentoli, Inc.
– Kemin Industries, Inc.,
– Bertol Company s.r.o.
– Other Prominent Players
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Segmentation Analysis
The global feed mycotoxin binders market segmentation focuses on livestock, source, form, and region.
Segmentation based on Livestock
– Swine
– Ruminants
– Poultry
– Aquatic animals
– Others
Segmentation based on Source
– Organic
– Conventional
Segmentation based on Form
– Dry
– Liquid
– Others
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Segmentation based on Region
– North America
– The U.S.
– Canada
– Europe
– UK
– Germany
– France
– Italy
– Spain
– Netherlands
– Rest of Europe
– Asia-Pacific
– China
– Japan
– India
– Australia
– South Korea
– Singapore
– Rest Of Asia-Pacific
– LAMEA
– Latin America
– Middle East
– Africa
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