Global Mycotoxin Binders Market: Snapshot
Leading companies operating in the global market for mycotoxin binders are pouring money into research and development of new and better products. This way they are trying to tap into a larger customer base and grow their sales and revenues.
Proving to be a major growth driver in the global market for mycotoxin binders is the rapid pace of urbanization and the consequent change in food habits of people, leading to the increased demand for meat and poultry products worldwide. This has necessitated the reduction in feed wastage of livestock animals.
With high amounts of insect and fungi infestation, essential nutrients are lost on the animal feed. Mycotoxin binders are added to those to prevent the animals from ingesting toxins from the contaminated feed. In this way they help to enhance the quality of the meat and also cater to the increasing demand for organic meat.
Besides, the market is also predicted to make gigantic strides on the back of rapid industrialization. Posing a roadblock to the market, on the other hand, is the requirement for specific inactivators for various mycotoxins.
As per Transparency Market Research, the global mycotoxin binders market will likely rise at a healthy 9.7% CAGR from 2017 to 2025 to become worth US$387.4 mn by 2025 from US$184.1 mn by the end of 2017.
Increasing Consumption of Poultry Meat makes it Dominant Segment
The global mycotoxin binders market can be divided on the basis of type into raw clays, zeolites and other treated aluminosilicates, polysaccharides, etc. Zeolites and other treated aluminosilicates, among those, are predicted to account for a relatively greater share in market – about 37.1 % of market share by 2017. The segment is slated to pull in revenue to the tune of US$778.6 mn by 2025 by rising at a CAGR of 11.8% between 2017 and 2025.
Based on the type of animal again, the global mycotoxin binders market can be divided into swine, poultry, ruminant, aqua, pets, equine, etc. Among them, the segment of poultry accounts for maximum market share on account of enormous consumption of poultry meat worldwide. By expanding at a CAGR of 10.4% between 2017 and 2025, the segment is expected to rake in a revenue of US$686.3 mn by 2025. In terms of growth, segment of ruminant will likely outpace all others to gain maximum share. The report by TMR predicts the segment to clock a CAGR of 11.5% from 2017 to 2025.
Powered by China, Asia Pacific Leads Market
From a geographical standpoint, currently Asia Pacific excluding Japan leads the global mycotoxin binders market. The market in the region is primarily powered by China. In terms of growth rate, on the other hand, the market in Latin America is projected to outshine all others by registering a CAGR of 11.0%. This is because of the rising knowledge about mycotoxins in feed and its effects growing steadily over time. Further, considerable increase of mycotoxins in the upcoming years will also push up demand for mycotoxin binders in the region. Another factor serving to boost the market in Latin America is the thrust by most companies domiciled in the region on research and development to come up with more effective products.
Some of the key companies operating in the global market for mycotoxin binders are BASF, Syngenta International, E.I. du Pont, Kemin Industries, Bayer, Nutreco, Impextraco, Novus International, Cargill, and Biomin.
Global Mycotoxin Binders Market: Overview
This report provides forecast and analysis of the global mycotoxin binders market. It provides historical data of 2015 along with estimated data of 2017, and forecast data up to 2025 in terms of revenue (US$ Mn). The report also includes macroeconomic indicators along with an outlook on baby diaper for global market. It includes drivers and restraints of the global mycotoxin binders market and their impact on each region during the forecast period. The report also comprises the study of current issues with consumers and opportunities for mycotoxin binders. It also includes value chain analysis.
In order to provide users of this report with comprehensive view of the market, we have included detailed competitiveness analysis and market key players and strategy overview. The dashboard provides detailed comparison of mycotoxin binders manufacturers on parameters such as total revenue, product offerings, and key strategy. The study encompasses market attractiveness analysis by product type and region. The report includes mycotoxin binders market company profiles and the revenue generated from the companies across North America, Latin America, Europe, APAC and MEA.
Global Mycotoxin Binders Market: Segmentation
Based upon the product type, mycotoxin binders market is segmented into raw clays, zeolites and other treated aluminosilicates, polysaccharides and other materials. On the basis of animal category, mycotoxin binders market is segmented into swine, poultry, ruminant, aqua, pets, equine, and others. For the calculation of revenue collection of average regional prices were obtained through primary quotes from numerous baby diaper manufacturers, retailers and distributors. All key end users have been considered and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents.
Country demand patterns have been considered while estimating the market for various end users of mycotoxin binders in the different regions. Top-down approach has been used to estimate the mycotoxin binders market by countries. Global market numbers by product type has been derived using the bottom-up approach, which is cumulative of each country’s demand. Company-level market share has been derived on the basis of product type. The market has been forecast based on constant currency rates.
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, and Hoover’s, and company annual reports and publications.
Global Mycotoxin Binders Market: Competitive Analysis
The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major companies operating in the Global Mycotoxin Binders Market are BASF, Syngenta International, E.I. du Pont, Kemin Industries, Bayer, Nutreco, Impextraco, Novus International, Cargill, and Biomin.
The market has been segmented as below:
Global Mycotoxin Binders market– By Product Type
- Raw clay
- Zeolites and other treated aluminosilicates
- Other materials
Global Mycotoxin Binders market– By Animal type
Global Mycotoxin Binders market – By Region
- North America
- Latin America