MarketsandMarkets™The global feed binders market size is estimated to account for a value of USD 4.5 billion in 2020 and is projected to grow at a CAGR 3.0% from 2020, to reach a value of USD 5.1 billion by 2025
The report "Feed Binders Market by Type (Lignosulfonates, Plant Gums & Starches, Gelatin & Other Hydrocolloids, Clay, Molasses, and Others), Livestock (Poultry, Cattle, Swine, Aquatic Animals, Dogs & Cats, and Others), Region - Global Forecast to 2025", size is estimated to account for a value of USD 4.5 billion in 2020 and is projected to grow at a CAGR 3.0% from 2020, to reach a value of USD 5.1 billion by 2025. Factors such as the rising meat consumption across regions, increasing production of meat products, and growing awareness of animal health are the key factors that are encouraging the use of compound feed among traditional livestock owners. The rising demand for compound feed pellets has led to an increase in the need for feed additives and ingredients, such as feed binders and feed premixes.
COVID-19 Impact on the Global Feed Binders Market
The FAO has acknowledged that the spread of COVID- 19 pandemic is subsiding in a few countries and regions of the world. Still, it is also resurging or spreading quickly in some other countries such as Korea, Brazil, and India. This outbreak has affected significant elements of both food supply and demand. Border closures, quarantines, market supply chains, and trade disruptions have restricted people’s access to sufficient and nutritious sources of food, especially in countries hit hard by the virus. However, as the governments on a global level shut down borders and economies for restricting the spread of the coronavirus, the businesses observed major impacts on their international trades. Many markets are focusing on fulfilling their requirements for feed additives and feed binders by domestic companies.
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Driver: Strong growth in the compound feed industry
The feed sector plays a crucial part in addressing global food and agriculture issues. Feed manufacturers are becoming more aware of the need to increase the nutritional value of feed products to improve the digestibility of animals to optimum levels. According to the FAO, global compound feed production has been estimated to be about 1 billion tonnes every year. Compound feed can be defined as the final feed product made up of various raw materials and additives. Additives are added to the feed to enhance their nutritional value, shelf-life, and quality. The compound feed industry is growing at a very fast pace, which fuels the need for the development of new additives in the feed market.
According to the International Feed Industry Federation (IFIF), there is a continuous increase in the demand for animal protein from the livestock, dairy, and fish sectors at a global level. The FAO estimated that the demand for food is projected to grow by 60% in 2050, with the expected growth of animal proteins at 1.7% per year. This, in turn, will increase the demand for feed and, in turn, would increase the demand for feed additives such as feed binders
By livestock, the poultry segment is projected to dominate the market during the forecast period.
The poultry segment is projected to hold the largest share in the feed binders market during the forecast period. Feed binders, such as clay and Lignosulfonates, are some of the significant binders used in poultry feed for high-quality and quantity production. On a global level, the total poultry production continues to increase, and with such growth in poultry production and consumption, it has become essential for meat producers to focus on the quality of meat. This is projected to drive the growth of the market, as it provides a complete nutritional feed for poultry.
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Asia Pacific is projected to grow at the highest CAGR during the forecast period
The Asia Pacific region serves as a growing platform for the feed industry due to its rise in population, increase in per capita income, and urbanization. The ruminants and poultry feed production in Asia Pacific is growing at a higher rate since the past five years. With the increasing pork consumption in the Southeast Asian region, feed manufacturers are eventually witnessing high demand for feed binders in swine and poultry feed.
This report includes a study on the marketing and development strategies, along with a survey of the product portfolios of the leading companies operating in the feed binders market. It includes the profiles of leading companies, such as Archer Daniels Midland Company (US), DuPont (US), Darling Ingredients Inc. (US), Roquette Freres (France), Borregaard ASA (Norway), Gelita AG (Germany), CP Kelco Inc. (US), and Avebe U.A. (Netherlands).
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