Global Feed Mycotoxin Binders and Modifiers Market Grows Steadily at a CAGR of 4.5%

Introduction

The term "mycotoxin" originates etymologically from the Greek words "toxicon," which signifies poison, and "mykes," which translates to fungi. Mycotoxin binders are chemical compounds that have been purposefully designed to impede the gastrointestinal absorption or binding of mycotoxins, thereby preventing their entry into the bloodstream of animals. Mycotoxin modifiers are additives specifically formulated to diminish the toxicity of mycotoxins via detoxification processes or by altering their chemical composition. They generally consist of specific microorganisms or enzymes that can degrade or transform mycotoxins into compounds exhibiting diminished toxicity.

Market Dynamics

Rising Mycotoxin Infection Drive the Global Market

According to the Food and Agriculture Organization (FAO), mycotoxins contaminate 25 percent of agricultural products worldwide. This contamination may manifest in the field before, during, or even after harvest. This implies that mycotoxins are present in all food substances, including those inadequately preserved and stored. Mycotoxins may be produced due to fungal proliferation in food substances that have not been sufficiently preserved.

Furthermore, the natural occurrence of mycotoxins could facilitate their contamination of human environments, rendering them potentially lethal. Animals that consume feed contaminated with mycotoxins may experience various adverse health effects and reduce overall productivity. There is a global demand for feed mycotoxin modifiers and binders to lessen the harmful effects of mycotoxin infection.

Strategic Initiatives by Key Player Creates Tremendous Opportunities

Market leaders engage in ongoing strategic initiatives, like product launches and mergers and acquisitions, to augment their market share. Royal DSM, a global scientific organization specializing in Nutrition, Health, and Sustainable Living, executed the acquisition of Erber Group for a total enterprise value of EUR 980 million, officially consummated, in October 2020. DSM obtained Biomin and Romer Laboratories from the Erber Group. Biomin, an entity under the Erber Group that specializes in animal nutrition and health, is primarily focused on the oversight of gastrointestinal health and the control of mycotoxins.

On the other hand, Romer Labs focuses primarily on the development of diagnostic solutions for the safety of food and nutrition. Both expand the range of specialized solutions DSM offers, thereby augmenting its value-added. Such initiatives by market leaders will generate expansion opportunities.

Regional Analysis

North America is the most significant global feed mycotoxin binders and modifiers market shareholder and is expected to expand substantially during the forecast period. The region's rising per capita meat consumption and stringent meat quality regulations will aid the market expansion. The market's projected growth in the United States can be attributed to the presence of significant market participants, including Kent Nutrition, Archer Daniels Midland, Cargill Incorporated, and others. Due to the increasing consumption of flesh, the North American region is expanding substantially. In the North American region, meat consumption increased from 19.58 million tonnes in 2016 to 65.09 million tonnes in 2021, as reported by the FAO.

Furthermore, North America consumed the most meat per capita on average between 2020 and 2022, at 78.6 kilograms per person, according to a statistic published by Statista. Moreover, there has been an increasing tendency among residents of North America to place the welfare of animals at the same level of importance as their health objectives. Therefore, to provide animals with the highest quality sustenance, market participants in the animal feed industry must produce feed that is an absolute marvel. The consequence is a regional expansion in the feed mycotoxin binders and modifiers market.

Key Highlights

• The global feed mycotoxin binders and modifiers market size was valued at USD 2.18 billion in 2022. It is estimated to reach USD 3.23 billion by 2031, growing at a CAGR of 4.5% during the forecast period (2023–2031).
• Based on type, the global feed mycotoxin binders and modifiers market is bifurcated into feed mycotoxin binders and feed mycotoxin modifiers.
• Based on source, the global feed mycotoxin binders and modifiers market is segmented into inorganic and organic. 
• Based on livestock, the global feed mycotoxin binders and modifiers market is divided into ruminants, swine, poultry, aquatic animals, and others.
• North America is the most significant global feed mycotoxin binders and modifiers market shareholder and is expected to expand substantially during the forecast period.

Competitive Players

Competitive Players

The key global feed mycotoxin binders and modifiers market players are Archer Daniels Midland (ADM), Kemin, Biomin, Cargill, Chr. Hansen Holdings A/S, Adisseo, BASF SE, Perstorp, Impextraco, Global Nutritech, Norel, and others.

Recent Developments

Market News

• In April 2022, A novel mineral-based mycotoxin binder, Animax, was introduced by the Manaseer Group of Jordan. It is composed of hydrated sodium aluminosilicate (HSCAS) combined with 74 distinct rare earth elements (REE).
• In February 2023, National Agricultural Advisory Research Organization (NARO) scientists created a viable remedy for aflatoxins. Dr. Ambrose Agona, director general of NARO, asserts that the organization has patented and developed the "NARO Aflatoxin Binder" and "Aflasafe" products.

Segmentation

Global Feed Mycotoxin Binders and Modifiers Market: Segmentation

By Type

• Feed Mycotoxin Binders
• Feed Mycotoxin Modifiers

By Source

• Inorganic
• Organic

By Livestock

• Poultry
• Swine
• Ruminants
• Aquatic Animals
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa