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Poultry Feed Mycotoxin Binders Market Report 2024 - Poultry Feed Mycotoxin Binders Market Size, Trends, And Outlook
Poultry Feed Mycotoxin Binders Market
According to The Business Research Company's, The poultry feed mycotoxin binders and modifiers market size has grown steadily in recent years. It will grow from $3.03 billion in 2023 to $3.16 billion in 2024 at a compound annual growth rate (CAGR) of 4.2%. The growth in the historic period can be attributed to proliferation of cloud-native applications, cost efficiency, scalability, globalization of business, agility and flexibility, security improvements..
The poultry feed mycotoxin binders and modifiers market size is expected to see steady growth in the next few years. It will grow to $3.7 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to regulatory compliance solutions, quantum computing developments, cybersecurity enhancements, serverless computing growth, environmental sustainability initiatives.. Major trends in the forecast period include multi-cloud strategies, hybrid cloud solutions, serverless computing and containerization, edge-to-cloud connectivity solutions, cost optimization strategies.
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Market Drivers and Trends:
Rising meat consumption is expected to propel the growth of the poultry feed mycotoxin binders and modifiers market going forward. Meat refers to the flesh or edible parts of an animal. Poultry feed mycotoxin binders and modifiers help in mitigating the effects of toxic substances that can be absorbed by poultry, making it safer to consume. For instance, the Australian Bureau of Agricultural and Resource Economics, an Australia-based federal research branch of the government, published an article in 2021 that stated that global meat consumption has increased by 58% over the years and has reached 360 million metric tons. For another instance, according to the United States Department of Agriculture, a US-based federal agency, consumers on average ate about 227 pounds of meat in 2022, which has risen from 224.9 pounds in 2021. Therefore, rising meat consumption will drive the poultry feed mycotoxin binders and modifiers market.
Technological innovations are the key trends in the poultry feed mycotoxin binders and modifiers market. Major companies in the poultry feed mycotoxin binders and modifiers market have launched new and innovative technologies to strengthen their position in the market. For instance, in March 2021, Biomin, an Austria-based animal health and nutrition company, launched a new and innovative feed additive for mycotoxin risk management, ZENzyme. The new product uses innovative enzymatic biotransformation technology to specifically target a mycotoxin, detoxify the fungal metabolite, and protect the animals.
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Major Key Players of the Market:
Cargill Incorporated; Phibro Animal Health; Perstorp Holding AB; Archer-Daniels-Midland Company; BASF SE; Bayer AG; Amlan International; Impextraco; Olmix Group; Micron Bio-Systems Ltd.; Novus International Inc.; Trouw Nutrition USA LLC; Brenntag SE; Norel Animal Nutrition; Adisseo France SAS; Global Nutritech Co. Ltd.; Chr. Hansen Holding A/S; Nutreco N.V.; BIOMIN Holding GmbH; Kemin Industries Inc.; Alltech Inc.; Anpario plc; Avitech Nutrition Pvt. Ltd.; Biofeed Solutions Inc.; Evonik Industries AG; Biovet JSC; DuPont Danisco Animal Nutrition; Diamond V; Dr. Eckel Animal Nutrition GmbH & Co. KG; Elanco Animal Health Incorporated
Poultry Feed Mycotoxin Binders And Modifiers Market 2024 Key Insights:
• The poultry feed mycotoxin binders and modifiers market size will grow to $3.7 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%.
• Surge In Meat Consumption Fuelling Growth In Poultry Feed Mycotoxin Binders Market
• Innovations Transforming The Poultry Feed Mycotoxin Solutions Market
• North America was the largest region in the poultry feed mycotoxin binders and modifiers market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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