Feed Mycotoxin Binders and Modifiers Market by Type, Livestock, Source, and Region - Global Forecast to 2022
LONDON, Aug. 22, 2017 /PRNewswire/ -- "The feed mycotoxin binders and modifiers market is projected to grow at a CAGR of 3.6%, in terms of value, during the forecast period"
The feed mycotoxin binders and modifiers market is projected to grow at a CAGR of 3.6% from 2017, to reach USD 2.77 billion by 2022. The demand for feed mycotoxin binders and modifiers is projected to be on the rise, owing to factors such as increasing incidences of mycotoxin occurrence in crops. All regions in the world, developed or developing, are susceptible to the harmful impact of these mycotoxins. High concentrations of mycotoxins in feed impact livestock health and performance. The growth of this market can be attributed to the high acceptance of mycotoxin binder and modifier products among farmers so as to reduce the mycotoxin contamination incidences in feed. The other drivers of the market include 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 consumption of animal-based products. On the other hand, lower penetration rate in developing countries pose as the major restraint for the feed mycotoxin binders and modifiers market.
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"The market for mycotoxin binders, by type, is projected to grow at the highest CAGR"
The mycotoxin binders segment, by type, in the feed mycotoxin binders and modifiers market is projected to be the fastest-growing during the forecast period. Mycotoxin binders prevent or reduce exposure to mycotoxins. They are used widely as they are cost-effective and are commercialized on a large scale, rendering them comparatively easy to procure. Awareness regarding the benefits of these binders is comparatively higher than that of modifiers as more research is being done on binders. These reasons make binders popular among manufacturers.
"Poultry segment, by livestock, is set to dominate the feed mycotoxin binders and modifiers market"
In 2016, the poultry segment accounted for the largest share in the global feed mycotoxin binders and modifiers market. Poultry is largely affected by mycotoxins; however, different poultry species respond differently to the challenges posed by mycotoxins. Thus, to reduce harmful effects in poultry, mycotoxin binders and modifiers are used to prevent the toxic effects of mycotoxins on the poultry.
"Asia-Pacific is projected to be the fastest-growing region in the feed mycotoxin binders and modifiers market"
Asia-Pacific is projected to be the fastest-growing market for feed mycotoxin binders and modifiers between 2017 and 2022. The largest producer in the region, China, continues to contribute to the region's leading position, with substantial growth witnessed in India and Japan. Pork and poultry are widely consumed in the Asia-Pacific region. The demand for poultry is estimated to increase in India and China, due to the rise in population, increase in purchasing power, and changes in consumer food preferences. This increase in demand for meat protein has triggered meat production in the region, where uptake of feed mycotoxin binders and modifiers has increased and is expected to show a healthy growth.
Break-up of primaries:
- By Company Type: Tier 1 - 50%, Tier 2 - 17%, and Tier 3 - 33%
- By Designation: Director level - 17%, C-level - 33%, and Others - 50%
- By Region: North America- 16%, Europe - 17%, Asia-Pacific - 50%, and Rest of the World- 17%,
The global market for feed mycotoxin binders and modifiers is dominated by large players such as 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), Novozymes A/S (Denmark), Novus International, Inc. (U.S.), Norel S.A. (Spain), BIOMIN Holding GmbH (Austria), Perstorp Holding AB (Sweden), Olmix S.A. (France), Impextraco NV (Belgium), and Nutriad International NV (Belgium).
Research Coverage
The feed mycotoxin binders and modifiers market has been segmented on the basis of type, livestock, source, and region. In terms of insights, this research report has focused on various levels of analyses—industry analysis, market share analysis of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the global feed mycotoxin binders and modifiers market, high-growth regions, countries, and their respective regulatory policies, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to buy this report:
• To get an overview of the global feed mycotoxin binders and modifiers market
• To get an overview of the key players of the feed mycotoxin binders and modifiers industry and key strategies adopted by key players to increase market presence
• To gain insights on the major regions in which the feed mycotoxin binders and modifiers market is growing
• To gain knowledge of the growth of various feed mycotoxin binders and modifiers
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