Global mycotoxin binding agent market projected to reach $524.4 million by 2034

From GlobeNewswire: 2024-12-03 09:08:00

The global Mycotoxin Binding Agent Market is expected to reach US$ 274.1 million in 2024, with a projected CAGR of 6.7% from 2024 to 2034. These agents play a critical role in food safety, animal health, and agriculture by reducing mycotoxin contamination in crops and ensuring safer food sources.

Mycotoxin binders are essential for animal feed, improving animal health and productivity while safeguarding consumer goods. The market is driven by an increasing need for mycotoxin control systems due to expanding global trade and stricter regulatory frameworks, reflecting the importance of these agents in promoting health and safety.

The global mycotoxin binding agent market is expected to reach US$ 524.4 million by the end of 2034. North America is anticipated to hold a 24.3% market share by 2034, with East Asia projected to grow at a CAGR of 7%. Key players in the industry include Novozymes, BASF, Novus International, and more.

In recent industry news, new regulations in the EU, FAO data on mycotoxins, and FDA approval of Toxi-Sorb highlight the importance of mycotoxin binders in ensuring food and animal safety. Advancements in formulation technology are enabling the development of more efficient binders that neutralize a wider range of mycotoxins, promoting animal and human safety.

Fact.MR offers valuable market insights on the mycotoxin binding agent market from 2019 to 2023, with forecasts up to 2034. The study covers product types, species, and regions globally, providing essential information for businesses looking to capitalize on emerging opportunities and stay ahead in the competitive landscape.



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