Market Research Report
Feed Mycotoxin Binders Market Size, Share and Industry Analysis Report by Product Type and Livestock, Regional Outlook, Application Potential, Competitive Market 2022-2028
|Feed Mycotoxin Binders Market Size, Share and Industry Analysis Report by Product Type and Livestock, Regional Outlook, Application Potential, Competitive Market 2022-2028|
Published: March 8, 2022
Global Market Insights Inc.
Content info: 213 Pages
Delivery time: 2-3 business days
Feed mycotoxin binders industry size is projected to expand significantly by 2028 on grounds of the rising meat and poultry consumption and growing risk from mycotoxin contamination in animal feed. As per reliable estimates, the world consumes about 350 million tons of meat annually. Moreover, the global meat consumption is predicted to grow between 460 million and 570 million tons by 2050 end.
Mycotoxin binders are feed additives responsible for binding the mycotoxins produced by microorganisms. These are perceived to affect the animal performance and avert them from getting absorbed in the gut and blood circulation.
Overall, feed mycotoxin binders industry is classified by products, livestock, and regions. Considering the product bifurcation, the market is divided into bentonite, HSCAS, polysaccharides, zeolites, and others. Out of these, the polysaccharides market share is projected to be worth $30 million by 2028. Moreover, the Europe and North American continents have greater implementation of polysaccharides into the feed additive industry, which could push the segment to grow at a rate of 7.5% over the forecast period.
Meanwhile, the feed mycotoxin binders market share from other products segment would depict a CAGR of 5.5% through 2028.
Based on the livestock, the market is divided into poultry, swine, aquaculture, equine, ruminants, and others. Amongst these, the ruminants market share, that include domesticated livestock animals like cattle, goats, deer, and sheep, is poised to expand at a rate of 9.5% over the foreseeable timeframe on back of the advanced nutritive requirements by feed producers.
On the other hand, the equine market size, across the feed mycotoxin binder industry, surpassed USD 2.5 million in 2020 and is estimated to grow at a rate of 7.3% over the up to 2028. The others segment includes camels, birds, and small ruminants, amongst others.
Considering the regional landscape, the industry is diversified into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. The Latin America feed mycotoxin binders market would seize a market share of 14% in the near future impelled by beef and poultry meat consumption as well as exports in the region. As per FAO statistics, Latin America and the Caribbean produce a little over 23% of buffalo and beef meat and 21.4% of poultry at global level.
Meanwhile, the Middle East and Africa feed mycotoxin binders market would record a CAGR of 7.9% through 2028, stimulated by the surging poultry, ruminant production and processing industries in leading regional countries. According to reliable estimates, the demand for poultry is relatively high in South Africa, reaching 2 million tons almost every year.