Opportunities for New Market Entrants in Feed Mycotoxin Binders & Modifiers Market

Northbrook, USA, 2020-Feb-04 — /EPR Network/ —

The feed mycotoxin binders & modifiers market is projected to grow from USD 2.4 billion in 2018 to USD 3.0 billion by 2025, at a CAGR of 3.6% during the forecast period. This is attributed to the increasing demand and consumption of livestock based products, rising incidences of mycotoxin occurrence in crops, stringent regulations limiting the presence of mycotoxin in feed products, and global increase in risk of mycotoxin contamination in livestock feed are some of the major drivers for the growth of the market.

Growth in incidences of mycotoxin occurrence in crops, increase in mycotoxin contamination in feed products of livestock and other companion animals, and rise in consumption of livestock-based products are the major drivers for the growth of feed mycotoxin binders & modifiers.

The major feed mycotoxin binder & modifier players include Cargill (US), BASF (Germany), ADM (US), Bayer (Germany), Perstorp (Sweden), Novus (US), BIOMIN (Austria), Impextraco (Belgium), Norel (Spain), Chr. Hansen (Denmark), Nutreco (Netherlands), Kemin (US), Adisseo (France), GLOBAL Nutritech (Turkey), and Alltech (US). Expansions formed the most dominant strategy adopted by major players, followed by new product launches. This has helped them to increase their presence in different regions and increase their product portfolio.

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Cargill is involved in manufacturing and marketing of food, agricultural, financial & industrial, and animal nutrition & protein products. The company offers feed ingredients through the animal nutrition business segment. Cargill’s animal nutrition segment provides mycotoxin binders & modifiers through its brand, Promote and its subsidiary, Provimi (Netherlands), for poultry, swine, beef cattle, dairy cattle, and aquatic animals. Strategically, the company is focusing on expanding the mycotoxin product line across Asian countries such as India, which are expected to be potential markets for mycotoxin binders & modifiers in the coming years. For instance, in December 2018, Provimi, through its subsidiary BioVet, S.A (Spain), launched the product Alquerfeed Antitox in India to target the Indian market. Alquerfeed Antitox is a product based on silicoglycidol, which adsorbs mycotoxin.

Archer Daniels Midland Company (ADM) operates through five segments—agricultural services, oilseeds processing, corn processing, wild flavors and specialty ingredients, and others. It offers mycotoxin control products under the corn processing segment. ADM focuses on catering not just to the mycotoxin binders & modifiers segment, but also the overall feed additive industry. The company’s R&D expenditures are specifically focused on improving formulations and developing feed & industrial products from renewable sources, such as corn starch and oilseeds. The company strategizes to expand its product portfolio and global reach with innovative value-added products. For instance, in January 2019 ADM acquired Neovia (France) to increase its product portfolio for both livestock and companion animal health products. With the acquisition, it would offer premixes, feed ingredients, aquaculture, mycotoxin, and other additives.

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