Saudi Arabia Mycotoxin Binders Market Expected to Grow at a CAGR of 8.72% from 2024 to 2032 | Astute Analytica

Saudi Arabia Mycotoxin Binders Market Valued at US$ 46.68 Million in 2023, Projected to Reach US$ 97.45 Million by 2032

CHICAGO, UNITED STATES, August 2, 2024 /EINPresswire.com/ -- The 𝐒𝐚𝐮𝐝𝐢 𝐀𝐫𝐚𝐛𝐢𝐚 𝐌𝐲𝐜𝐨𝐭𝐨𝐱𝐢𝐧 𝐁𝐢𝐧𝐝𝐞𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 was valued at approximately 𝐔𝐒$ 𝟒𝟔.𝟔𝟖 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑 and is on track to achieve a market valuation of 𝐔𝐒$ 𝟗𝟕.𝟒𝟓 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐. This growth represents a compound annual growth rate (𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟖.𝟕𝟐% during the forecast period from 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟐𝟎𝟑𝟐.

𝐓𝐡𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞- https://www.astuteanalytica.com/request-sample/saudi-arabia-mycotoxin-binders-market

The expansion of the market is driven by the increasing awareness of mycotoxin contamination in agricultural products and the growing demand for effective solutions to mitigate these toxins. Mycotoxin binders play a crucial role in improving animal health and productivity, which contributes to the rising adoption of these products.

• 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

• 𝟐𝟎𝟐𝟑 𝐌𝐚𝐫𝐤𝐞𝐭 𝐕𝐚𝐥𝐮𝐞: 𝐔𝐒$ 𝟒𝟔.𝟔𝟖 𝐦𝐢𝐥𝐥𝐢𝐨𝐧
• 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐕𝐚𝐥𝐮𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐: 𝐔𝐒$ 𝟗𝟕.𝟒𝟓 𝐦𝐢𝐥𝐥𝐢𝐨𝐧
• 𝐂𝐀𝐆𝐑: 𝟖.𝟕𝟐% (𝟐𝟎𝟐𝟒–𝟐𝟎𝟑𝟐)
• 𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬
• 𝐃𝐫𝐢𝐯𝐞𝐫: 𝐑𝐢𝐬𝐢𝐧𝐠 𝐋𝐢𝐯𝐞𝐬𝐭𝐨𝐜𝐤 𝐚𝐧𝐝 𝐏𝐨𝐮𝐥𝐭𝐫𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

The livestock and poultry industry in Saudi Arabia is developing rapidly, which has led to an increased demand for mycotoxin binders market. Under Vision 2030, the government of the Kingdom of Saudi Arabia hopes to expand its economy and ensure food security. This means that there will be continuous growth in these sectors. In 2023 alone, chicken production has risen by 24%, hitting a record 910,000 tons. Over 5million more sheep and goats were kept by farmers than two years ago — an increase of 25%. Several investments have been made into agriculture by the government organizations, which is amounting to SAR 1.5 billion. Therefore, they need better feed additives especially mycotoxin binders to take care of their health hence ensuring productivity.

Additionally, Saudi Arabia has recorded a 14% increase in importing feedstuff components. This accounts for 𝟒.𝟐 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 𝐭𝐨𝐧𝐬 𝐚𝐬 𝐨𝐟 𝟐𝟎𝟐𝟑. Consequently, they have necessitated mycotoxin control measures. Mycotoxins are widely spread within feeds and this poses a great danger to the health of animals, thus making the demand for mycotoxin binders to go up by 15%. It is estimated that more than 60% of all feedstuffs examined in that area showed contamination with these harmful substances which could result into huge economic losses too. For this reason alone, there will be an expected rise of such products by 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟖.𝟓% within the next 8 years considering them as vital safeguards for poultry farming industry while at the same time protecting livestock sector.

𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐯𝐢𝐬𝐢𝐭:- https://www.astuteanalytica.com/industry-report/saudi-arabia-mycotoxin-binders-market

As the market continues to evolve, key players are focusing on innovation and the development of advanced mycotoxin binders to address the challenges faced by the agriculture and livestock industries. The increasing emphasis on food safety and quality assurance further propels the market growth.

• BASF SE
• Cargill
• Syngenta International AG
• E.I. du Pont de Nemours & Co.
• Bayer A.G.
• Novus International
• Kemin Industries, Inc.
• Other Prominent Player

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

𝐁𝐲 𝐓𝐲𝐩𝐞

• Adsorbents
o Aluminosilicates
o Clays
o Activated Charcoal
o Chemical Polymers
o Glucan Products
o Chemically Treated Silicates
• Denaturants
o Mycotoxin Degrading Enzyme
o Live Microorganisms
o Organic Binder
o Yeast Cell Wall
o Others

𝐁𝐲 𝐀𝐧𝐢𝐦𝐚𝐥 𝐂𝐚𝐭𝐞𝐠𝐨𝐫𝐲

• Poultry
• Aquaculture
• Swine
• Horses
• Ruminant
o Cows
o Sheep
o Camel
o Goats
• Others

𝐁𝐲 𝐒𝐨𝐮𝐫𝐜𝐞

• Organic
• Inorganic

𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞𝐫

• Feed Manufacturers
• Home Mixers
• Aquaculture Sector
• Others

𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧

• Al-Bahah Province
• Al-Jawf Province
• Aseer Province
• Eastern Province
• Ha'il Province
• Jizan Province
• Madinah Province
• Makkah Province
• Najran Province
• Qassim Province
• Riyadh Province
• Tabuk Province
• Northern Province

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/saudi-arabia-mycotoxin-binders-market

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Astute Analytica
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