Portland, OR, Nov. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global feed mycotoxin binders market generated $144.6 million in 2021, and is estimated to reach $393.9 million by 2031, witnessing a CAGR of 10.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $144.6 Million |
| Market Size in 2031 | $393.9 Million |
| CAGR | 10.2% |
| No. of Pages in Report | 233 |
| Segments Covered | Livestock, Source, Form, and Region |
| Drivers | Increased attention to proper animal nutrition in order to preserve animal’s health and efficiency. |
| Companies associated with the production of mycotoxin binders are expected to expand production capacities in order to fulfill increasing customer requirements for better animal health and performance. | |
| Demand for protein-rich food, particularly meat and meat products. | |
| Increased occurrence of mycotoxin contamination with the increase in global trade of grains and commodities. | |
| Opportunities | Investment opportunities and favorable government policies to set up feed mycotoxin binder production facilities. |
| Restraints | The feed mycotoxin binders industry faces certain operational challenges due to government regulations. |
| Limited and scattered information regarding the use of ingredients, specifically as feed mycotoxin binders. |
Covid-19 Scenario:
- In the midst of the Covid-19 pandemic, the demand for meat products dropped abruptly due to the growing health concerns across the globe. Hence, the production as well as prices of meat products decreased gradually. Regions such as Europe and North America recorded a decline in feed demand which led to profound losses. China suspended the activity of five of its Brazilian pig meat handling units, as affirmed by the US National Pork Producers Council (NPPC).
- Such situations caused uncertainty in business sectors. The supply chain and logistics restrictions further acted as impediments for feed ingredient businesses.
- However, meat being a significant source of food for many people as it offers various health benefits, the feed sector receives global support for its growth. This factor propels the demand for feed mycotoxin binders in animal feed.
The report offers a detailed segmentation of the global feed mycotoxin binders market based on livestock, source, form, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on livestock, the poultry segment held the largest share in 2021, accounting for nearly half of the global feed mycotoxin binders market, and would rule the roost through 2031. However, the aquatic animals segment is estimated to witness the fastest CAGR of 12.3% during the forecast period. The report also discusses the swine, ruminants, and others segments.
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Based on source, the conventional segment held the largest share in 2021, accounting for more than 90% of the global feed mycotoxin binders market share, and would rule the roost through 2031. However, the organic segment is estimated to witness the fastest CAGR of 11.5% during the forecast period.
In terms of form, the liquid segment captured the largest market share of more than half of the global feed mycotoxin binders market in 2021, and is expected to lead the trail during the forecast period. The same segment is likely to achieve the fastest CAGR of 10.8% through 2031. The report also mentions the dry and others segments.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for more than one-third of the global feed mycotoxin binders market share, and is likely to maintain its leadership status during the forecast period. The market in the same region is expected to manifest the highest CAGR of 11.0% from 2022 to 2031. The other regions analyzed in the study include North America, Europe, and LAMEA.
Leading players of the global feed mycotoxin binders market analyzed in the research include Alltech, Inc., BASF SE, Bentoli, Inc., BERTOL COMPANY s.r.o, Cargill, Incorporated, Clariant Ltd., Koninklijke DSM N.V., EW Nutrition GmbH, GLOBAL NUTRITECH, Impextraco N.V., Norel, S.A, SVH Holding N.V., Olmix S.A., Perstorp Holding AB, Simfa Labs Pvt. Ltd., Virbac S.A., and Kemin Industries, Inc.
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The report analyzes these key players of the global feed mycotoxin binders market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
