Mycotoxin binders Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2027
Albany, NY -- (SBWIRE) -- 05/04/2017 -- Mycotoxin binders are the substances used to bind or adsorb specific mycotoxin, thereby prevent them from being absorbed through the gut and into the blood circulation. Mycotoxins contaminate the feed and cause negative effects in the animals such as organ damage (liver/kidney), reproduction problems, reduced performance, and greater susceptibility to infectious diseases. Mycotoxin binders are added to the feed in order to reduce toxicity of mycotoxins. Substances used as mycotoxin binders comprises indigestible adsorbent materials such as activated carbons, silicates, complex carbohydrates etc. Mycotoxins reduce animal performance and deteriorates health as a result of toxic effects. Mycotoxin binders added to the feed prevents animals from absorbing toxins from the contaminated feed.
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Market Dynamics of Mycotoxin binders:
Mycotoxin binders market is expected to be to take a huge leap forward with the industrialization of livestock industry coupled with the increasing focus on the reduction of feed wastage. Also, rise in the demand for good quality meat along with the expansion of organic meat sector is expected to escalate the growth of mycotoxin binders. Rising awareness among farmers regarding the usage of mycotoxins binders also elevates the consumption of mycotoxin binders. In addition, with the industrialization of the livestock industry also acts as a major driver for this market. However, factors such as the need for specific inactivators for different mycotoxins along with the environmental concerns related to inorganic absorbents limits the growth prospect of mycotoxin binders market.
Market Segmentation of Mycotoxin binders:
Mycotoxin binders market is segmented on the basis of type, animal category, and geography. Based upon type, mycotoxin binders market is segmented into clays, bentonite, and others. Clay is expected to hold relatively higher market share in the mycotoxin binders market. On the basis of animal category, mycotoxin binders market is segmented into swine, poultry, ruminant, aquaculture, pets, horses, and others. Poultry sub-segment among the animal category is projected to attain for relatively higher market value in the global mycotoxin binders market. Increase in the consumption of poultry meat, change in tastes and preferences are expected to have a vital contribution in the segment growth over the forecast period.
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Regional Outlook of Mycotoxin binders:
Based on geography, Mycotoxin binders market is segmented into seven different regions namely Asia-Pacific, Middle East and Africa, Latin America, Western Europe, Eastern Europe, North America, and Japan. Western Europe is expected to attain relatively higher revenue share in the global mycotoxin binders market. Higher revenue share of the region can be attributed to the continuous product developments undergone by the leading manufacturers to strengthen their product portfolio. The Asia-Pacific region is expected to offer high growth opportunities, owing to significant increase in the feed production along with the rise in consumer awareness about the quality of poultry and related products.
Key Market Players in Mycotoxin binders:
Some of the key players in the mycotoxin binders market include Novozymes A/S, BASF SE, Alltech, Inc., Chr. Hansen Holding A/S, Nutreco N.V., Adisseo France SAS, Evonik Industries AG, and Cargill, Inc. among others. Leading manufacturers in the mycotoxin binders market are keen to expand their product portfolio to strength their position in the market. New product developments coupled with the increased R&D investments are some of some of the key initiatives taken by the companies to meet the growing demand for mycotoxin binders.