PUBLISHER: The Business Research Company | PRODUCT CODE: 1414512
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414512
“Poultry Feed Mycotoxin Binders And Modifiers Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on poultry feed mycotoxin binders and modifiers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for poultry feed mycotoxin binders and modifiers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The poultry feed mycotoxin binders and modifiers market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Poultry feed mycotoxin binders and modifiers are specialized feed additives incorporated into poultry feed in small quantities to capture mycotoxins. Their primary function involves adsorbing mycotoxins within the gastrointestinal tract of animals, serving as a protective shield against these harmful substances that could otherwise compromise animal health.
These products mainly comprise mycotoxin binders and mycotoxin modifiers. Mycotoxin binders are absorbent substances that effectively bind mycotoxins, preventing their absorption into the bloodstream of animals. Their role is crucial in averting the entry of toxic substances into animal bodies, thereby safeguarding them from potential harm. These binders are derived from both organic and inorganic sources, available in liquid as well as dry forms.
The poultry feed mycotoxin binders and modifiers market research report is one of a series of new reports from The Business Research Company that provides poultry feed mycotoxin binders and modifiers market statistics, including poultry feed mycotoxin binders and modifiers industry global market size, regional shares, competitors with a poultry feed mycotoxin binders and modifiers market share, detailed poultry feed mycotoxin binders and modifiers market segments, market trends, and opportunities, and any further data you may need to thrive in the poultry feed mycotoxin binders and modifiers industry. This poultry feed mycotoxin binders and modifiers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The poultry feed mycotoxin binders and modifiers market size has grown steadily in recent years. It will grow from $3.03 billion in 2023 to $3.16 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The expansion observed in the historical period can be attributed to various factors. Specifically, the proliferation of cloud-native applications played a significant role. Additionally, factors such as cost efficiency, scalability, the global expansion of businesses, increased agility and flexibility, and notable enhancements in security also contributed to this growth.
The poultry feed mycotoxin binders and modifiers market size is expected to see steady growth in the next few years. It will grow to $3.7 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. Anticipated growth in the upcoming forecast period is underpinned by several factors. Firstly, the focus on regulatory compliance solutions is expected to drive significant growth. Additionally, advancements in quantum computing, enhanced cybersecurity measures, the burgeoning adoption of serverless computing, and the rise of environmental sustainability initiatives are poised to contribute to this growth.
The poultry feed mycotoxin binders and modifiers market is anticipated to surge due to the increased consumption of meat, which refers to the edible parts of animals. These specialized additives aid in mitigating toxic substances absorbed by poultry, ensuring safer consumption. According to the Australian Bureau of Agricultural and Resource Economics in 2021, global meat consumption rose by 58% to 360 million metric tons. Additionally, the United States Department of Agriculture reported an average consumption of 227 pounds of meat per consumer in 2022, up from 224.9 pounds in 2021. Hence, the escalating meat consumption is poised to drive the poultry feed mycotoxin binders and modifiers market.
The expanding consumer demand for poultry products, encompassing various items derived from domesticated birds, is expected to fuel the growth of the poultry feed mycotoxin binders and modifiers market. These additives play a pivotal role in ensuring the safety and quality of poultry products by addressing potential mycotoxin contamination. Notably, the USDA Economic Research Service reported substantial growth in the U.S. poultry sector, with sales reaching $76.9 billion in 2022, marking a 67% increase from 2021. The sector witnessed a 60% rise in broiler sales, a 21% increase in turkey sales, and a noteworthy 122% surge in egg sales in 2022. Hence, the growing consumer demand for poultry products is anticipated to drive the poultry feed mycotoxin binders and modifiers market.
Technological innovations stand as key trends in the poultry feed mycotoxin binders and modifiers market, with major companies launching advanced technologies to bolster their market positions. An instance includes Biomin's launch in March 2021 of 'ZENzyme,' a novel feed additive utilizing enzymatic biotransformation technology to target and detoxify mycotoxins, offering animal protection.
Major companies in the poultry feed mycotoxin binders and modifiers sector are concentrating on innovative solutions such as mineral-based feed additives. These additives, primarily composed of essential minerals, aim to mitigate mycotoxin effects found in feed. For instance, Manaseer Industrial Complex Co. introduced 'Animax' in April 2022, a mineral-based feed additive containing hydrated sodium calcium aluminosilicate (HSCAS). This product enhances animal nutrition, immunity, and overall health by effectively binding mycotoxins, notably Aflatoxin B1, in feed.
In July 2022, AB Agri, a UK-centered enterprise specializing in animal feed technology and nutrition, completed the acquisition of Greencoat Limited, marking a significant undisclosed investment. This strategic move facilitated AB Agri's expansion into novel markets within the animal nutrition and technology sectors while bolstering their sales and marketing strategies for newly developed products. Greencoat Limited, also based in the UK, specializes in animal supplements and care, offering antioxidant-enriched formulated feed products.
Major companies operating in the poultry feed mycotoxin binders and modifiers market report are Cargill Incorporated, Phibro Animal Health, Perstorp Holding AB, Archer-Daniels-Midland Company, BASF SE, Bayer AG, Amlan International, Impextraco, Olmix Group, Micron Bio-Systems Ltd., Novus International Inc., Trouw Nutrition USA LLC, Brenntag SE, Norel Animal Nutrition, Adisseo France SAS, Global Nutritech Co. Ltd., Chr. Hansen Holding A/S, Nutreco N.V., BIOMIN Holding GmbH, Kemin Industries Inc., Alltech Inc., Anpario plc, Avitech Nutrition Pvt. Ltd., Biofeed Solutions Inc., Evonik Industries AG, Biovet JSC, DuPont Danisco Animal Nutrition, Diamond V, Dr. Eckel Animal Nutrition GmbH & Co. KG, Elanco Animal Health Incorporated
North America was the largest region in the poultry feed mycotoxin binders and modifiers market in 2023. The regions covered in the poultry feed mycotoxin binders and modifiers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the poultry feed mycotoxin binders and modifiers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The poultry feed mycotoxin binders and modifiers market consists of sales of activated carbon, aluminosilicates, sepiolite, attapulgite, and others. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.