Mycotoxin Binders Market

Mycotoxin Binders Market Outlook (2023-2033)

The market for mycotoxin binders can be expected to expand at a value-based CAGR of 5.0% and show an increase in revenue from US$ 2,322.6 in 2023 to around US$ 3,796.9 Mn by 2033.

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Mycotoxin Binders Consumption Analysis (2018-2022) Vs. Market Estimations (2023-2033)

The global mycotoxin binders market has witnessed significant growth in the historical period registering a CAGR of 4.5% in the historical period and was valued at US$ 2,322.6 Mn in 2023. Countries such as China, India, Japan, and Thailand, among other Asian countries held a significant share in the global market.

These countries are among the leading exporters of poultry and swine, owing to increase in demand for such products in the global market. Rapid urbanization, increasing disposable income, and better quality of life are major factors driving consumer expectations for feed quality and safety.

To ensure these standards are met, producers are trying to embrace technologies and chemicals that can ensure high quality animals and by-products as well. Apart from this, constantly rising temperatures across the globe is sure to increase the incidence of mycotoxins in animals and crops, which will encourage the use of mycotoxin binders in different feed products.

The global market for mycotoxin binders is estimated to reach an approximate valuation of US$ 3,796.9 Mn in the forecast period.

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What are the Key Trends in the Market for Mycotoxin Binders?

“Evolving Landscape of Feed industry To Benefit Market”

Trends that are highlighted by the reports published by global feed associations indicate that the feed industry is in its glory days with the market expanding every year and is anticipated to grow during the forecast period. This is due to the growing population and the popularity of meat and other animal-derived products. This creates a major market expansion strategy for manufacturers of mycotoxin binders.

• According to the International Feed Industry Federation (IFIF), the world compound feed production is estimated to be 1 Bn tons annually, with the global feed industry generating an estimated annual turnover of US$ 400 Bn. Furthermore, according to The United Nations Food and Agriculture Organization (FAO), the demand for food will grow by 60% in 2050, and between 2010-2050 animal protein is anticipated to grow by 1.7% per year, meat production by 70%, aquaculture by 90% and dairy by 55%.

“Increasing Use of Compound Feed Globally to Increase Mycotoxin Binder Sales”

The majority of animal farms across the globe are adopting feed tailored specifically for different age groups of animals popularly known as compound feed over normal feed. This is expected to benefit additive suppliers, as compound feed is formulated by blending various raw materials and additives. This feed offers a whole new set of benefits to producers of any species including performance, convenience, consistency, efficiency, economy, quality, traceability, service, nutrition, value, and a good return on investment.

• As per the FAO, the compound feed market is anticipated to be more than US$ 500 Bn by 2023 due to the high demand for nutritious meats, the rise in organized farming, precision nutrition, and the high consumption of animal-based foods such as meat to which further is anticipated to reach 77.82 pounds per capita by 2025.

“Growth of Poultry Synergizing Demand for Feed and Feed Additives”

Demand for poultry has increased, and ready-to-eat poultry products are penetrating the market at a significant rate. In the Middle East & African (MEA) region, poultry production has grown rapidly but has not kept pace with consumption growth, resulting in rising imports.

The U.S. poultry shipments, mainly broilers, saw rapid growth over the past 10 years, with the biggest customers being Iraq and the United Arab Emirates. These regions are also susceptible to high mycotoxin contamination due to favorable temperature condition.

Such surge in production and imports & exports opens up optimistic market growth opportunities for manufacturers of mycotoxin binders. To summarize, as the capacity for large-scale poultry operations has grown, so has the demand for animal feed and feed additives, including mycotoxin binders.

“Global Climatic Change Spurring Rise in Mycotoxin Contamination”

Constantly rising temperature conditions throughout the globe are sure to increase the incidences of mycotoxins in animals and crops, which will encourage the use of toxin binders in animals and insecticides and pesticides in plants yet further. With a high amount of infestations occurring in regions where contamination was little to none, the global food and feed supply chain will encounter more modifications of mycotoxins and an overall increase in their occurrences. The market for mycotoxin binders will be driven by countermeasures such as the use of mycotoxin binders as well as increased expenditure in research & development for new products with superior results and high availability throughout the world during the forecast period.

• The combined temperature of the land and ocean has risen by 0.13oF (0.08oC) on average per decade since 1880, as per NOAA's 2020 Annual Climate report.

“Presence of Alternative Mycotoxin Eliminators in Market”

The contamination that is caused by the inception of mycotoxins in any organism drastically reduces the availability of food & feed. Hence, producers all around the world are looking for ways to hinder the growth of both crops & animals. However, due to the ever-changing need for these binders, there are numerous solutions accessible for both inorganic and organic mycotoxin binders, posing some challenges to the market expansion of inorganic mycotoxin binders.

• As per the research published in the World Mycotoxin Journal, there are some interesting alternatives to inorganic adsorbents to detoxify mycotoxins such as organic binders including yeast cell wall components, synthetic polymers such as (cholestyramine, polyvinylpyrrolidone), dietary fibers and humic substances.

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Country-wise Insights

What is the value share held by the U.S. for the mycotoxin binders market?

Various manufacturers have integrated state-of-the-art technology in their production plants, and some are providing cutting-edge technology solutions to clients. This ensures product delivery of the highest quality standards and ensures long-lasting business bonds with clients.

Majority of key players in the country are investing heavy amounts on technological advancements and research activities to introduce products in new markets, and maintain a sustainable demand & supply chain while also ensuring market expansion.

Integration of technology also improves sustainable product availability in the market. Key players have also ensured the compliance of feed safety procedures in processing plants. Reluctance of manufacturers for high quality products is obvious, as their product’s efficacy affects not just animal health but also others who consume it.

The U.S. currently holds a value share of 14.8% in the global market and a valuation of US$ 357.9 Mn in 2023.

What is the Demand Outlook in East Asia Region for Mycotoxin Binders?

East Asian region holds 28.6% of the current market share and is valued at US$ 663.8 Mn in 2023.

Majority of key players operating in the feed and feed additives industry have set up offices and factories throughout China, which makes China one of the most prominent markets for feed additives.

Considering these factors, China is expected to dominate the production of feed additives, including mycotoxin binders, and is expected to set high standards for quality assurance and quality control management across the globe. The market for China is projected to grow at a significant growth rate of 7.4% during the forecast period.

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Category-wise Insights

Which Animal Category of Mycotoxin Binders Accounts for High Revenue Generation?

Based on the animal category, the global market mycotoxin binders is segmented into swine, ruminant, poultry, aqua, and pet, among others. The poultry category holds the maximum value of US$ 712.9 Mn in 2023 and 30.7% of the value share.

Poultry is considered one of the fastest-developing segments in the agricultural sector in Asian countries, especially in China and India. Potential in this segment is due to a combination of factors such as rapid urbanization, growth in per capita income, and a rapidly expanding middle-class population.

The poultry industry has also involved sizable investments in breeding, hatching, rearing, and processing. This has resulted in increased demand for feed additives such as mycotoxin binders to deliver high-quality products. The use of mycotoxin binders in poultry feed is meant to improve egg production and quality.

Competitive Dashboard

Key manufacturers are targeting product offerings especially towards manufacturers operating in the feed industry. Key players are also taking efforts to offer products with better functionality and improved efficiency. Multinational companies with a wide variety of products account for roughly 50-55% of the global mycotoxin binders industry. Biomin, BASF SE, Alltech, Impextraco NV, Perstorp Holding AB, Cargill Incorporated among others, are some of the major players operating in the global mycotoxin binders market. Regional players account for a market share of 25-35%, while local players account for 5-10%. The latter is engaged in the business of providing mycotoxin binders, operates at a small scale, and is more export-oriented.

• In March 2021, Biomin launched its latest mycotoxin risk management solution called Mycofix Plus 5.Z with Enzyme, but the product is region specific. It is only launched across selected markets in the Asia Pacific region. It is a purified enzyme for breeding animals and their offspring, that specifically degrades zearalenone (ZEN) fast and irreversibly into non-toxic and non-estrogenic metabolites.

• Micron Bio-Systems launched its comprehensive analytical service designed specifically for the analysis of mycotoxins in animal feed and bedding materials called Mycocheck. It utilizes ultra-high-performance liquid chromatography-mass spectrometry (UHPLC-MS/MS) for carrying out the analysis. Mycocheck's internally developed method (TW060) is fully by the United Kingdom Accreditation Service (UKAS), which is accredited to ISO 17025.
• Special Nutrients’ mycotoxin binders are either an activated, broad-spectrum, hydrated, sodium/calcium aluminosilicate (HSCAS) or a surface-activated Bentonite (Organoclay), and are specially designed to control mycotoxins affecting species health and productivity. The product can simply be added to the micro-ingredients premix before mixing with major ingredients and finally can be mixed homogeneously.
• In December 2018, Impextraco NV technical team participated in the International Forum on Mycotoxins In Animal Feed, Curitiba, Brazil with a focus on evolution in mycotoxin detection & management via the whole production chain and the final biochemical effects in the animals. The company shared its expertise in mycotoxin eliminators on the impact of fumonisins on a set of immunological biomarkers in broilers.

Mycotoxin Binders Industry Report Scope

Mycotoxin Binders Industry Research by Category

By Type:

• Raw Clays
• Aluminosilicates
• Polysaccharides
• Others

By Animal Category:

• Poultry
• Swine
• Ruminant
• Aqua
• Pet
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa