The increasing mindfulness of people toward animal nutrition has led to the introduction of favorable animal feed alternatives. However, the animal feed industry is often challenged by the presence of toxins, more specifically mycotoxin. Mycotoxins are naturally occurring toxins in food which are produced by certain molds. The mycotoxin-producing molds can grow on a range of different crops and food items and can easily penetrate deep inside the food and are not limited to the surface. When animals consume even small doses of mycotoxins, it may result in acute disease episodes and impair their immunologic responsiveness. To that end, binding agents such as feed mycotoxin binders have gained significant momentum to prevent the entrance of mycotoxin into the bloodstream of animals which may adversely harm their health and performance.
Feed mycotoxin binders have witnessed a mounting demand with growing food safety concerns, an inclination toward livestock performance and advancements in the development of binding agents by top companies operating in this business space. In view of these developments, the feed mycotoxin binders market is projected to register a valuation of more than $294 million by 2028.
Below are some trends that will drive feed mycotoxin binders industry revenue through 2028:
- Surging consumption of meat products: Increasing meat demand can be attributed to high incomes and food consumption changes which favor increased protein intake from animal sources. Moreover, meat products can be contaminated by the presence of mycotoxin-producing molds on the surface of dry-cured meat. Also, aflatoxins, one of the most poisonous mycotoxins, can result in severe health hazards such as liver cancer, especially among hepatitis-B-positive people. For instance, meat contributes more than 15% of daily energy intake and 40% to daily protein intake in the U.S. and other developed nations. To curb the spread of animal-borne ailments through meat products, feed mycotoxin binders may witness considerable demand.
- Growing aquaculture sector: Surging consumption of seafood is driven by population growth globally and burgeoning disposable income. Mycotoxin intake by fish can increase the disease and mortality rates. In addition, the accumulation of small doses of mycotoxins in the fish’s musculature may pose health hazards to its consumers. The rising demand for healthy seafood products is presenting growth opportunities for aquaculture industry which is likely to propel the feed mycotoxin binders’ industry growth.
- Increasing government approvals for bentonite: Bentonite is a widely used additive in all feeds for all animal species and is known for reducing feed contamination by mycotoxins. It is EFSA-registered as a mycotoxin binder at a dose of 20 g/kg. Owing to its capabilities of preventing a drop in rumen pH during the fermentation of starch and positive responses in milk yield for lactating cows, it has witnessed a surging demand in the animal feed industry.
In fact, the lipophilic hydrophobicity and high adsorption capacity of HSCAS adsorbent may also favor the adoption of HSCAS-based feed mycotoxin binders.
Proliferating Product Innovations to Transform the Feed Mycotoxin Binders Industry
Many market players in this industry are prioritizing launching enhanced capabilities of feed mycotoxin binders for gaining a competitive edge. In March 2021, BIOMIN Holding GmbH, a leading feed additive company, launched Mycofix Plus 5.Z with ZENzyme in selected markets across the Asia Pacific region. The new product is an all-in-one feed additive for next-generation mycotoxin risk management for breeding animals and their offspring.
What Does the Future Hold for the Feed Mycotoxin Binders Market?In a nutshell, it can be inferred that feed mycotoxin binders have gained immense traction in the animal feed industry, owing to growing efforts toward minimizing the spread of animal-borne diseases and an emphasis on improving the overall livestock performance. Increasing beef and meat import-export is also escalating market growth. As per the USDA, in 2021, the value of U.S. beef and its product exports increased 38% over 2020 to a record value of $10.6 billion. Furthermore, growing seafood imports is also likely to pave the path for novel product development. The total seafood import value in Europe alone was $54.8 billion in 2020, which indicates a broad scope for the market.