Global Feed Mycotoxin Binders and Modifiers Market is valued approximately at USD 2.53 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.10 % over the forecast period 2020-2027.
The feed mycotoxin binders & modifiers perform as a mycotoxin detoxifying agent in the feed. They are utilized as feed additives and aid in dropping the bioavailability of mycotoxins in feed. While, Binders are large molecular weight compounds binding with the mycotoxins. These binders absorb the toxin in the guts leading to excretion of toxin in feces. These modifiers prevent and minimizes the exposure of animal to mycotoxins. The feed mycotoxin binders & modifiers market is anticipated to grow in the forecast period owing to driving factors such as rising incidences of mycotoxin occurrence in crops and increased risks of mycotoxin contamination in livestock feed. Also, increasing need of green adjuvants, improving efficiency and effectiveness of agrochemicals are some of the factors driving the growth of the global feed mycotoxin binders and modifiers market. Furthermore, increasing meat consumption and growing demand for high quality meat products support the market growth. As per Brazilian Association of Animal Proteins (ABPA) in 2018 Brazilian chicken meat exports amounted to 4100 million tons and the whole Latin region totaled to a volume of 1.3 million tons of beef exports. The top 10 countries where beef was exported from Latin America were Chile (114 thousand tons), Iran (84 thousand tons), Saudi Arabia (41,900 tons), UAE (35,500 tons) and Philippines (26,500 tons). However, lack in awareness among the small-scale livestock and prominent usage of mold inhibitors, acidifiers, and other feed preservatives as feed additives and growers impedes the growth of the market over the forecast period of 2020-2027. Although, strong growth in poultry and aquafeed sector presents a lucrative opportunity for the market.
The regional analysis of global Feed Mycotoxin Binders and Modifiers market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increasing demand for safe and high Quality meat products and increasing meat consumption in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising demand for safe and high-quality livestock-based products, food safety awareness, stringent quality regulations would create lucrative growth prospects for the Feed Mycotoxin Binders and Modifiers market across Asia-Pacific region.
Key player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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