“Feed Mycotoxin Binders and Modifiers Market by Type (feed mycotoxin binders, feed mycotoxin modifiers), Livestock (poultry, swine, ruminants, aquatic animals and others), Source (inorganic, organic), Form (dry, liquid) and Region – Global Forecast 2025”, is estimated to be valued at USD 2.4 billion in 2020 and is projected to reach a value of USD 2.8 billion by 2025, growing at a CAGR of 3.0% during the forecast period. On the other hand, the feed mycotoxin binders and modifiers market in terms of volume is projected to reach at 2,013.5 KT during the forecast period. Factors such as the rising risk of mycotoxins in the final feed products is driving the growth of the feed mycotoxin binders and modifiers market.
The poultry segment is projected to be the largest and fastest-growing segment, in terms of livestock production. Broilers, layers, and breeders are domesticated to produce eggs and meat for commercial consumption. Growing concerns about livestock health such as improved body mass, concern about the number and quality of egg production, and enhanced feed efficiency have led to an increasing demand for the use of mycotoxin binders & modifiers in poultry feed.
Most of the livestock growers do not consider mycotoxin binders & modifiers as necessary feed additives and prefer using other feed additives such as mold inhibitors, acidifiers, and other feed preservatives to improve the livestock feed to extend the shelf life of feed and to improve the health and wealth of the livestock. This is due to the reason that mycotoxin binders & modifiers are perceived to contribute to the additional cost, thus acting as a restraint to market growth. In order to overcome these barriers, proper information related to risk associated with mycotoxin should be marketed with the livestock growers, educating them about the benefits of mycotoxin binders & modifiers.
Key players in this market include include major players such as Cargill (US), BASF (Germany), ADM (US), Bayer (Germany), Perstorp (Sweden), Chr. Hansen (Denmark).
These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
