China is Projected to Grow at the Highest CAGR During the Forecast Period

The North American market accounted for the largest share in the feed mycotoxin binders & modifiers market.

(EMAILWIRE.COM, September 23, 2019 ) Mycotoxins are toxic secondary metabolites of fungi belonging, essentially, to the Aspergillus, Penicillium, and Fusarium genera. Exposure to these mycotoxins produces both acute and chronic toxicities in the body of the livestock. MarketsandMarkets projects that the global feed mycotoxin binders & modifiers market is to grow from USD 2.5 billion in 2019 to USD 3.0 billion by 2025, at a compound annual growth rate (CAGR) of 3.6% during the forecast period. Increase in incidences of mycotoxin occurrence in crops, stringent regulations limiting the presence of mycotoxin in feed products, and global increase in the risk of mycotoxin contamination in livestock feed are expected to drive the growth of the feed mycotoxin binders & modifiers market.

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The dry segment is estimated to dominate the market for feed mycotoxin binders & modifiers, among the forms, in 2019. It has a higher demand among livestock producers, as they mix readily with the feed ingredients and are easy to store. Moreover, in the dry form, dosage can be more accurately measured by livestock growers in comparison with the liquid form.

The inorganic segment is projected to the fastest growing in terms of the source during the forecast period. This is attributed to their lower cost as compared to organic sources as well as wide availability with ease of storage and handling. The effectiveness of inorganic mycotoxin binders depends on the chemical structure and binding properties such as polarity and solubility. Clay products including bentonite, zeolite, montmorillonites, and HSCAS (hydrated sodium calcium aluminosilicate), activated charcoal, and synthetic polymers such as polyvinylpyrrolidone and cholestyramine are used in the feed industry to bind aflatoxins.

In terms of geographic coverage, the feed mycotoxin binders & modifiers market has been segmented into five regions, namely, North America, Europe, Asia Pacific, South America, and RoW. Asia Pacific is projected to be the fastest-growing segment during the forecast period, due to the large livestock population and high prevalence of mycotoxin risk in this region. Moreover, the rise in awareness among the livestock growers about the importance of livestock health is driving the market. Additionally, the increase in demand for meat products such as chicken and pork continue to drive the demand for feed mycotoxin binders & modifiers in this region.

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Significant focus on feed safety and livestock health, in order to meet the rising meat consumption, in countries such as China, India, Brazil, and Argentina is likely to create growth opportunities for the feed mycotoxin binders & modifiers market.

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