Rockville, MD, Dec. 03, 2024 (GLOBE NEWSWIRE) — According to the newly published report by Fact.MR, a market research and competitive intelligence provider, the global Mycotoxin Binding Agent Market is evaluated to reach US$ 274.1 million in 2024. The market is projected to escalate at a CAGR of 6.7% between 2024 and 2034.
Mycotoxin-binding agents are in high demand worldwide because of their vital roles in food safety, animal health, and agriculture. Certain molds create harmful substances called mycotoxins, which are surely tainting crops and seriously endanger animal and human health. Mycotoxin binders are used more frequently to reduce contamination as awareness of these risks rises.
These ingredients are utilized in animal feed, which improves the overall productivity and health of animals and guarantees safer food sources. In addition, mycotoxin binders are used by food giants to safeguard consumer goods, thereby upholding brand integrity and safety standards.
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The need for efficient mycotoxin control systems is further fueled by an expansion of global trade and a requirement for quality assurance in food items. The market for mycotoxin-binding agents is escalating as consumer awareness rises and regulatory frameworks become more stringent, reflecting the critical role these agents play in promoting health and safety.
Key Takeaways from Mycotoxin Binding Agent Market Study:
- The global mycotoxin binding agent market is projected to reach a value of US$ 524.4 million by the end of 2034. North America is evaluated to reach 24.3% share of the global market by 2034.
- The market in East Asia for mycotoxin binding agents is projected to expand at a CAGR of 7% from 2024 to 2034. Sales of mycotoxin binding agents in Canada are forecasted to rise at a CAGR of 7.2% through 2034.
- Japan is forecasted to occupy a market share of 4% in East Asia by 2034. Among all the Segments, the segment of raw clay is approximated to expand at a CAGR of 6.5% from 2024 to 2034.
“Mycotoxin binding agent is widely used for feeding fish to enhance safety and health of farmed fish,” says Fact.MR analyst.
Leading Players Driving Innovation in the Mycotoxin Binding Agent Market:
The Key Players in the Mycotoxin Binding Agent industry include Novozymes; BASF; Novus International; Bayer; Syngenta International; Cargill; Olmix SA; Industrial Tecnica Pecuaria SA; Alltech; DowDuPont; Anpario; Nutreco; Biomin Holding 9; Kemin Industries; Impextraco; Bluestar Adisseo; Norel Nutricion Animal
Mycotoxin Binding Agent Industry News & Trends:
In March 2023, the European Union published new regulations regarding the use of mycotoxin binders in animal feed. The purpose of these new rules is to guarantee the safety and effectiveness of mycotoxin binders.
In May 2023, the Food and Agriculture Organization of the United Nations (FAO) published a new dataset on mycotoxins in animal feed. The report highlights the need of using mycotoxin binders to safeguard animals’ health and production.
In April 2023, the US Food and Drug Administration (FDA) authorized the use of Toxi-Sorb, a new mycotoxin binder, in animal feed. Toxi-Sorb is a clay-based binder that effectively combats a variety of mycotoxins.
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Improving Formulation Technology Allowing Manufacturers to Make Huge Profits:
The creation of more efficient and focused binders is possible by advancements in formulation technology, which has increased their capacity to neutralize a greater variety of mycotoxins. These cutting-edge goods guarantee both animal and human safety in addition to improving efficacy.
Producers and customers who are concerned about their health find it desirable to use natural and organic components in mycotoxin binders, which is in line with expanding trends toward sustainability. To provide consistent performance across a range of applications, research and development efforts are also focused on developing binders that are going to endure a variety of environmental conditions.
A greater level of cooperation between producers and agricultural stakeholders is encouraging the development of customized solutions that address particular local requirements. Mycotoxin-binding agents are increasing in demand due to improved safety, effectiveness, and sustainability as new technologies continue to surface.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the mycotoxin binding agent market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (raw clay, zeolites, polysaccharides), species (poultry, swine, ruminants, aqua, pets, equine), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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