The analyst of the TMR report has detected that major players operating in the mycotoxin binders market are focused on enhancing their product portfolio, which helps them cater to a wider range of end users. And to create a niche, major players such as Bayer, BASF, E.I. du Pont, Cargill, Syngenta International, Kemin Industries, Impextraco, Nutreco, Novus International, and Biomin are investing heavily on research and development activities.
Based on product type, the TMR report has segmented the mycotoxin binders market into adsorbents and denaturants. The adsorbents are sub-segmented into activated charcoal, Aluminosilicates, clays, chemically treated silicates, chemical polymers and glucan products, whereas the denaturants is sub-segmented into mycotoxin degrading enzymes, live microorganism and organic binders. The animal types that have been evaluated for their demand potential are: equine, pet, aquatic animals, ruminant, swine and poultry.
Based on nature, the mycotoxin binders market is segmented into organic and inorganic. Geographically, Asia Pacific has been foreseen as the region that will cultivate the most prominent chunk of demand in the global mycotoxin binders market. This rise of the APAC mycotoxin binders market can be attributed to growing awareness regarding the benefits and return of investment by farm organizations.
Often, as a result of fungi and insect infestation, the plant-based raw materials of animal feed lose their nutritious values, which can be adequately sufficed by mycotoxin binders, and hence a flourishing market for the same. As the awareness regarding the benefits of this additives expands, more and more farm owners are investing on mycotoxin binders in order to prevent their animals from contaminated feed, which in turn improves their meat quality. Across the world, the trend in the food industry is organic products, and usage of mycotoxin binders passes the requirements too.
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Growing incidences of mycotoxin occurrence in crops, increase in the consumption of animal-based products, and high expectation from the current R&D activities to increment application horizons are some of the other factors expected to augment the demand in the mycotoxin binders market in the near future. On the other hand, lower penetration rate in a number of emerging economies is curtailing the market from performing at its optimum potential.
- Global mycotoxin binders market is estimated to be worth US$1568.4 million by 2026
- Resilient aspiration of farm organizations to increment yield and quality of meat are the key drivers of the market
- Major players are focused on research and development activities to expanding application horizons and make greater profits
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