Feed mycotoxin binders market, over the recent years, has been exhibiting an encouraging growth potential owing to the worldwide rise in consumption of meat products coupled with the increased consumer inclination toward safe and healthy food. Furthermore, the recent spurt in instances of livestock based ailments caused by contaminated feed ingredients have necessitated a wide scale usage of feed binders to lower the toxic effects. Reportedly, these binders prevent contamination of compound feeds and animal feed ingredients by toxic metabolite moulds known as secondary metabolites. The increased usage of these binders is bound to contribute toward the swift expansion of feed mycotoxin binders industry share across the globe. According to estimates, the global feed mycotoxin binders market share exceeded USD 130 million in 2016, in terms of revenue.
U.S. Feed Mycotoxin Binders Market Size, By Livestock, 2016 & 2024 (USD Million)
Stringent regulatory frameworks across the globe to boost feed mycotoxin binders market expansion:
While elaborating further on the growth prospects of feed mycotoxin binders industry, it is quite imperative to take note of the regulations set forth by various governmental and safety agencies across the globe. The major regulations prescribed by these authorities are directed toward standardizing meat and poultry products by mandating the usage of toxin binders and other feed additives. Furthermore, the rising prevalence of antibiotic resistance in animals across the world has compelled the regulatory agencies to lay down strict guidelines in a bid to regulate the usage of antibacterial growth promoters and antibiotic medicines. Enumerated below are a few prominent instances highlighting government regulations, that would assist in augmenting the revenue graph of the global feed mycotoxin binders industry:
- If the recent news reports are to be believed, the European Commission is making a concerted effort to standardize the medicated feed and set long-term antibiotic targets for the overall animal health and welfare. It has been focusing on two major regulations namely Medicated Feed Regulations and Veterinary Medicines Regulations, which are currently being reviewed by the Commission which underlines the importance of European Union’s feed mycotoxin binders industry share. Elaborating further, Medicated Feed Regulations would aim to update the prevailing government controls that oversee medicated feed manufacturing and examine the concerns pertaining to antimicrobial resistance. On the other hand, Veterinary Medicines Regulations would intend to streamline the existing regulatory procedure to aid easy availability of veterinary medicines across Europe. As per estimates, Europe feed mycotoxin binders market is estimated to surpass USD 100 million by 2024.
- Recently, Animal Health Australia (AHA), a not-for-profit company has released Australian Animal Welfare Standards and Guidelines for Poultry for public consultation. The draft is being touted as a significant move as it aims to overhaul the prevailing voluntary arrangement to national regulation, ensuring poultry welfare in Australia. Speaking along similar lines, global feed mycotoxin binders market size from poultry applications is estimated to surpass USD 120 million by 2024. It would be prudent to mention that the draft has been reportedly developed by AHA in partnership with the Australian government, welfare organizations, foremost livestock industry associations, and other stakeholders to curtail the emergence of new diseases, enhance animal health, and nurture the integrity and resilience of the nation’s animal health system. Needless to say, such dynamic and proactive measures from all concerned parties shall favorably influence the regional feed mycotoxin binders market progression.
- The Food Safety and Standards Authority of India (FSSAI), an autonomous agency under the Union Ministry of Health and Family Welfare, has recently notified amendments to the Food Safety and Standards Regulations, 2011. The amendment aims to prescribe the maximum limit while utilizing 37 antibiotics and 67 other veterinary drugs in meat, particularly chicken, as the residue of antibiotics in food from animal sources pose grave threat to human health, given that the residues may develop antibiotic resistance.
Considering the above declarations, the prominent feed mycotoxin binders industry players such as Alltech, Bentoli, Selko, Visscher Holland, and Biomin among others are anticipated to incorporate advanced methods to strengthen their production capability and expand their distribution networks to stay relevant in this moderately concentrated business sphere. Apparently, the global feed mycotoxin binders market is forecast to surpass a total revenue of USD 250 million by 2024, claims a recent report collated by Global Market Insights, Inc.