NEW YORK, Feb. 14, 2019 /PRNewswire/ -- A recent report published by Persistence Market Research, titled 'Mycotoxin Binding Agents Market: Global Industry Analysis 2013-2018 and Forecast 2019-2027', states that, by the end of 2018, the mycotoxin binding agents market is expected to be valued as US$ 937.9 in terms of sales revenue. The market is expected to reach US$ 1,699.3 by the end of 2027 in terms of value. From the estimated year (2018) to the forecasted year (2027), the overall global mycotoxin binding agents market is expected to grow at a CAGR of 6.9% in terms of value.
High Demand for Mycotoxin Binding Agents for Poultry Expected to Drive Growth
There is rigid fragmentation and competition in the global mycotoxin binding agents market. The poultry segment, under the species segments, is expected to hold a prominent market share in terms of both, value and volume, throughout the forecast period (2018-2027), in the global mycotoxin binding agents market, when compared to the other segments such as ruminants, swine, equine, pets, aquaculture, and others. The demand for mycotoxin binding agents is expected to observe a significant increase in terms of both, value and volume, throughout the forecast period (2018-2027), in the global mycotoxin binding agents market, due to the increase in the consumption of poultry in various developed and developing regions and countries.
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There are a number of organized players present in the mycotoxin binding agents market, owing to the increased competition. This is one factor that is helping accelerate the development of various innovative and novel products in the mycotoxin binding agents market. It is also a major factor that is expected to push the growth of the mycotoxin binding agents market in terms of both, value and volume, throughout the forecast period (2018-2027).
APAC Region Projected to Hold a Share of 35.7% in Terms of Value by the End of 2027 in the Global Mycotoxin Binding Agents Market
By region, APAC is expected to hold a relatively high market share of 32.2% in terms of value by the end of 2018 in the global mycotoxin binding agents market. The region's market share is expected to rise to 35.7% in terms of value by the end of 2027 in the mycotoxin binding agents market. Followed by Asia Pacific (APAC), North America is expected to hold the second-largest market share of 26.9% in terms of value throughout the forecast period. This region's market share is expected to decrease to 24.3% in terms of value by the end of 2027 in the overall global mycotoxin binding agents market. Followed by North America, Europe is expected to hold a significant market share in terms of both, volume and value, throughout the forecast period, in the overall global mycotoxin binding agents market.
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Zeolites and Other Treated Aluminosilicates Segment Expected to Remain Prominent in the Mycotoxin Binding Agents Market, with a Market Share of 45.5% by the End of 2027
By product type, the zeolites and other treated aluminosilicates segment is expected to hold a significant market share of 41.8% by the end of 2018, in terms of value, in the global mycotoxin binding agents market, and is expected to remain dominant throughout the forecast period, with a market share of 46.2%.
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Key Producers of Mycotoxin Binding Agents
Some of the key players included in the mycotoxin binding agents market report are BASF SE, Cargill, Inc., Kemin Industries, Bayer AG, Novus International, Inc., Olmix S.A., BIOMIN Holding GmbH, Inc., Nutreco N.V., Syngenta International AG, Venkys (India) Ltd., Anpario plc., Impextraco N.V., Industrial Técnica Pecuaria, S.A. (ITPSA), Norel S.A, E.I. du Pont de Nemours & Co, Neospark Drugs and Chemicals Private Limited, Lipidos Toledo SA, Alltech Inc., PeterLabs Holdings Berhad, and Perstorp Holding AB, among other mycotoxin binding agent manufacturers.
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The Global Mycotoxin Binding Agents Market has been segmented as presented below:
Global Mycotoxin Binding Agents Market, By Geography:
- North America
- Latin America
- South East Asia & Other APAC
- Middle East & Africa
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