Albany, NY -- (SBWIRE) -- 05/23/2019 -- 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.

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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 in activators for various mycotoxins.

Increasing Consumption of Poultry Meat makes it Dominant Segment

The global mycotoxin binders market can be divided on the basis of product type into adsorbents and denaturants. The adsorbents are predicted to account for a relatively greater share in market – about 83.9% of market share by 2018. The segment is slated to pull in revenue to the tune of US$1,301.5 Mn by 2026 by rising at a CAGR of 5.5% between 2018 and 2026.

Based on the type of animal again, the global mycotoxin binders market can be divided into swine, poultry, ruminant, aqua, pets, and equine. 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.

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As per Transparency Market Research, the global mycotoxin binders market will likely rise at a healthy 5.5% CAGR from 2018 to 2026 to become worth US$1568.4 Mn by 2026 from US$1023.8 Mn by the end of 2018.