The Feed Binders Market Is Set To Reach $6 Billion Due To Rising Consumption Of Livestock-Based Products As Per The Business Research Company's Feed Binders Global Market Report 2022
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According to The Business Research Company’s research report on the feed binders market, the increasing consumption of livestock-based products is expected to propel the growth of the feed binders market going forward. Livestock-based products refer to products derived from animals such as meat and meat products, poultry products (meat and eggs), fish, shellfish, and dairy products (milk and cheese). Feed binder is incorporated into livestock feed to trap mycotoxins and prevent them from entering the bloodstream, where they could cause catastrophic injury to the animals. For instance, in March 2022, according to the Australian Bureau of Statistics, an Australian government agency responsible for statistical collection and analysis, in terms of seasonal adjustments for the quarter ending March 2022, chicken meat production increased by 3.2%. Therefore, the increasing consumption of livestock-based products is driving the feed binders market.
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The global feed binders market size is expected to grow from $4.91 billion in 2021 to $5.18 billion in 2022 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, affecting many markets across the globe. The feed binders market is expected to grow to $6.23 billion in 2026 at a CAGR of 4.7%.
Product innovations are a key trend gaining popularity in the feed binder market. Major companies operating in the feed binders market are focused on developing new products to sustain their position in the market. For instance, in February 2020, CRA-VAC Industries Inc., a Canada-based feed binder manufacturer, launched Protein-Plus Halal, an innovative halal pellet binder with an excellent amino acid profile that is also a pork-product-free binder. Protein-Plus Halal is specially designed and developed for feed manufacturers in areas where halal goods are desirable, if not required.
Major players in the feed binders market are Emsland-Starke Gmbh, DuPont de Nemours Inc., Darling Ingredients Inc., Roquette Freres, Borregaard ASA, CP Kelco Inc., Cra-Vac Industries Inc., Beneo GmbH, Kemin Industries Inc., Alltech, Visco Starch, BASF SE, Bentoli AgriNutrition India Pvt Ltd, Allwyn Chem Industries, and Uniscope Inc.
The global feed binders market is segmented by type into lignosulfonates, plant gums and starches, gelatin and other hydrocolloids, molasses, clay, other types; by source into natural, synthetic; by application into moists, pellets, crumbles.
Asia-Pacific was the largest region in the feed binders market in 2021. North America is expected to be the fastest-growing region in the feed binders market during the forecast period. The regions covered in this feed binders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Feed Binders Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide feed binders market forecast size and growth, feed binders market segments and geographies, feed binders market trends, feed binders market drivers and restraints, feed binders market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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