Feed Mycotoxin Binders and Modifiers Market Dynamics: Drivers, Restraint, Opportunity and Challenges

The feed mycotoxin binders and modifiers market is estimated to account for a value of USD 2.4 billion in 2020 and is projected to grow at a CAGR of 3.0% from 2020, to reach a value of USD 2.8 billion by 2025. Increasing need of green adjuvants, improving efficiency and effectiveness of agrochemicals are some of the factors driving the growth of the feed mycotoxin binders and modifiers market.

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Driver: Rise in incidences of mycotoxin occurrence in crops

There are over 500 identified mycotoxin strains in the world, including aflatoxins (B1, B2, G1, G2, and M1), ochratoxin A, deoxynivalenol, and fumonisins that are the major mycotoxins found in livestock feed. The incidences of disease outbreaks, owing to them are on the rise. All the regions in the world, developed or developing, are susceptible to the harmful impact of these mycotoxins. According to the FAO study, about 25% of the crops produced across the globe contain mycotoxins. Thus, to improve the health and wealth of livestock and to produce maximum livestock performance, mycotoxin binders & modifiers are expected to be used by the livestock growers.

Restraint: Prominent usage of mold inhibitors, acidifiers, and other feed preservatives as feed additives and lack in awareness among the small-scale livestock growers

Most of the livestock growers do not consider mycotoxin binders & modifiers as necessary feed additives and prefer using other feed additives such as mold inhibitors, acidifiers, and other feed preservatives to improve the livestock feed to extend the shelf life of feed and to improve the health and wealth of the livestock. This is due to the reason that mycotoxin binders & modifiers are perceived to contribute to the additional cost, thus acting as a restraint to market growth. In order to overcome these barriers, proper information related to risk associated with mycotoxin should be marketed with the livestock growers, educating them about the benefits of mycotoxin binders & modifiers.

Opportunity: Strong growth opportunities in poultry and aquafeed sectors in emerging markets of Asia Pacific and South America even through the minor set-backs of Covid- 19.

The growth in demand for feed mycotoxin binders & modifiers offers an opportunity for market development, especially in developing countries such as China, India, Brazil, and Argentina. Poultry and aquaculture rearing in feedlots can be considered as the significant growth sector for usage of the feed mycotoxin binders & modifiers market in South America and the Asia Pacific region, owing to their large-scale farming.

The growth opportunities for the usage of feed mycotoxin binders & modifiers are furthered by factors such as a significant focus on feed safety and livestock health in order to meet the rising meat consumption and strengthened feed demand. Increased importance laid on the quality of feed products in these emerging markets is another factor offering significant opportunity for growth. Furthermore, constant disease outbreaks among livestock can also influence the usage and market development opportunity for feed mycotoxin binders & modifiers, as regulatory bodies globally focus on adopting control measures on feeding practices to address feed and consequently food safety

Challenge: Unintended consequences of using mycotoxin binders & modifiers

Mycotoxin binders & modifiers are used in such cases to combat mycotoxin contamination in livestock. Mycotoxin binders reduce the negative effects of mycotoxins in feed. However, not all mycotoxin binders have the same characteristics and thus work differently when added to feed. Every binder has its own specific binding capacity, which differs according to its source; even two clay products from the same family of bentonites may have different efficiency levels. In some regions such as the EU allows a maximum inclusion level of 2% clay in feed to bind aflatoxin B1; however, the risk of binding with the existing nutrients exists in feed even at lower inclusion levels. These undesirable binding results reduce the efficiency against mycotoxins, and there may be a reduction in the availability of essential nutrients for growth and production in the livestock. Such cases might be unknown to the farmers who use mycotoxin detoxifiers in feed.

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Key players in this market include include major players such as Cargill (US), BASF (Germany), ADM (US), Bayer (Germany), Perstorp (Sweden), Chr. Hansen (Denmark). These major players in this market are focusing on increasing their presence through expansions & investments, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.

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