The feed binders market is projected to grow at a CAGR of 3.0% from 2020 to 2025
The global feed binders market size is estimated to account for a value of USD 4.5billion in 2020 and is projected to grow at a CAGR 3.0% from 2020, to reach a value of USD 5.1billion by 2025. The demand for feed binders is rising due to the increasing meat consumption, growing awareness toward animal health, and rising meat production. To maintain structural integrity and reduce the loss of feed ingredients, feed manufacturers use feed binders to maintain the high-quality of the meat products.
The governments shut down borders and economies for restricting the spread of the corona virus. This resulted in businesses observing major impacts on their international trades. Many markets are focusing on fulfilling their requirements for feed additives, and feed binders by domestic companies. This is, however, causing an imbalance between the demand and supply quantities. However, some regions are completely dependent on imports and are facing tough situations.
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Leading players profiled in this report:
• Archer Daniels Midland Company (ADM)
• Roquette Freres
• Darling Ingredients, Inc.
• Ingredion, Inc.
• Gelita AG
• Kemin Industries, Inc.
• Borregaard ASA
The lignosulfonates segment, on the basis of type, is projected to be the largest segment during the forecast period
By type, the lignosulfonates segment is projected to hold the largest share in the feed binders market. Lignosulfonates are the most commonly used feed binder as they are highly cost-effective and are utilized across various types of feed. The relatively low toxicity of lignosulfonates makes them a preferred binder among feed manufacturers. They are used to improve the feed properties of pellets. They also have the properties of emulsification and dispersing due to which they have been gaining popularity in the production of compound feed. Thus, lignosulfonates is projected to witness significant demand over the years.
The poultry segment to witness the fastest growth during the forecast period
By livestock, the feed binders market is segmented into poultry, ruminants, swine, and other livestock(aquatic animals, pet animals, and equines).The per capita consumption of poultry meat is significantly higher than that of beef and pork due to the increased breeding of poultry birds and rising prices of red meat products as compared to poultry. The poultry sector is witnessing a shift in focus toward high-quality compound feed products due to the development of organized farm sectors. This has led to the increased usage of binders by poultry feed manufacturers to ensure the supply of high-quality and value-added feed products.
Asia Pacific is projected to grow at the highest CAGR during the forecast period
Asia Pacific is the fastest-growing region in the feed binders market due to the presence of some of the primary compound feed, feed additives, and feed binder producers in the world, such as China and India. Most of the South East Asian countries also focus on the production of feed binders due to the growing livestock population. The increasing trend of meat consumption in the Asia Pacific region has also led to the rise in the production of feed binders.