Feed Mycotoxin Binders and Modifiers Market size is forecast to reach $2.7 billion by 2025, after growing at a CAGR of 3.5% during 2020-2025. The growth is attributed to the increasing demand and consumption of livestock-based products, and rising incidences of mycotoxin occurrence in crops, along with the strict government regulations, which is limiting the presence of mycotoxin in feed products. The global increase in risk of mycotoxin contamination in livestock feed are some of the major drivers for the growth of the market. Further, increases the overall demand over forecast period.
Type – Segment Analysis
The Feed Mycotoxin Binders segment has been Feed Mycotoxin Binders and Modifiers primary market during the forecast period. Mycotoxin binders are commonly used because they are inexpensive and are highly marketed, making them comparatively easy to acquire. In addition, they have a longer life cycle and are not affected by various climatic conditions, which makes them healthy to use in all climatic conditions.
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Livestock – Segment Analysis
Swine segment has the highest share for Feed Mycotoxin Binders and Modifiers Market in 2019. Young pigs and breeding swine are most susceptible to mycotoxin contamination. Thus, the prevention of mycotoxins needs to be ensured in the swine to reduce the negative effects of mycotoxin on swine health and performance. This drives the use of mycotoxin binders & modifiers in the swine segment.
Sources – Segment Analysis
On the basis of source in the feed mycotoxin binders & modifiers market, the inorganic source holds a larger market share in 2019. The most common inorganic sources, including silicates from aluminum, sodium, potassium and calcium, are mycotoxin binders from feed. In the feed industry, inflatoxins are used to bind Clay products like bentonite, zeolite, montmorillonites, HSCAS, activated carbon dioxide and synthetic polymers. Compared to organic modifiers, such as lower prices and easy storage and handling, these products have several advantages which have led to greater preference for these products over organic mycotoxin modifications.
Geography – Segment Analysis
North America dominated the Feed Mycotoxin Binders and Modifiers Market share with more than 42.3%, followed by APAC and Europe. This dominance is attributed to the increase in mycotoxin risk level in livestock feed and the adoption rate of mycotoxin binders & modifiers in livestock feed in this region is high as compared to other regions. According to the BIOMIN World Mycotoxin Survey, 2018, it has been stated that the risk associated with mycotoxin in North America was 73%, whereas in 2016 the risk was 66% for the same. Furthermore, the stringent regulatory framework in these countries for mycotoxin threshold level has also resulted in an increased demand for mycotoxin binders & modifiers.
Drivers – Feed Mycotoxin Binders and Modifiers Market
Increasing demand
Fungi growth will decrease nutrition and increase the risk of mycotoxins. The use of mycotoxin binders and modifiers is now important to regulate mycotoxin growth. The Food and Agriculture Organization (FAO) reports that about 50% of foodstuffs worldwide are highly polluted, resulting in economic losses caused by decreased animal health and possible production losses for the agriculture industry. Consequently, it is very important to use mycotoxin binding agents and inhibitors to prevent these losses. This market would probably show steady growth due to its requirements. In addition, the increasing production of mycotoxin binding agents and modifiers world-wide, correlated with increased livestock producers expenditure on healthy diets. In addition, rising market perception of fungal growth and its detrimental effect on animal health in stored feeds drive the sales of mycotoxin binders and agents around the globe.
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Challenges – Feed Mycotoxin Binders and Modifiers Market
Effect of Mycotoxin
The presence of toxins created by fungi in feed and nutrition is becoming increasingly aware of the hazards to both human and animal health. Mycotoxins have a variety and biological consequences in chemical structures. They may have cancer, a mutager, an oestrogen, a neurotoxic, immunotoxins etc. Mycotoxins can cause reduced performance in farms, refusal of feed, poor conversion of feed, reduced body weight gain, immune suppression, reproductive disorders and residues in animal food products, among other things. But symptoms are ambiguous and complex, and it is difficult for diagnosis. A lack of testing, unclear signs and encounters with other stressors make the condition more complicated. This aspect limits the growth of the market.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Feed Mycotoxin Binders and Modifiers Market. In 2019, the market of Feed Mycotoxin Binders and Modifiers has been consolidated by the top five players accounting for xx% of the share. Major players in the Feed Mycotoxin Binders and Modifiers Market are Cargill, BASF, ADM, Bayer, Perstorp, Chr. Hansen, Kemin, Nutreco, Adisseo, Alltech, Novus International, BIOMIN, Impextraco, Norel, and GLOBAL NUTRITECH, among others.
Acquisitions/Product launches:
In December 2017, Adisseo has acquired Nutriad, a manufacturer of feed additives for more than 50 years, with a solid product range in palatability, mycotoxin management and digestive performance.
In August 2018, a leading player in mycotoxin binders market BASF SE launched Lucantin NXT, an animal nutrition product line in Europe market.
January 2019, ADM acquired Probiotics International Limited (UK), under its brand Protexin. Protexin would offer a variety of natural products and probiotic supplements for the veterinary, agriculture, and equine healthcare markets. This would increase the product portfolio of the ADM nutrition division.
Key Takeaways
Due to factors such as growing mycotoxin incidences in plants and risks of mycotoxin contamination in animal feed, a growth is expected in the feed mycotoxin binders & modifiers market over the predicted era. The growth of the market in feed mycotoxin binders and modifiers is further driven by high demands and consumption of livestock products, and by strict regulations limiting feed quality.
However, lack of knowledge of the growth of feed mycotoxin binders and modifiers will hinder on small-scale farmers and prominent use of mold inhibitors, acidifiers and other feed preservatives as feed additives. However, untapped markets in the poultry and aquatic feed sector give the industry and major players participating in the forecasting period a significant growth opportunity.
However, the end use industries are being significantly affected due to the COVID-19 pandemic, as most of the countries have issued “stay at home guidance” i.e., lockdown. This factor is limiting the market growth in current situation.
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