Feed binders are either natural or synthetic element used to enhance the quality of the animal feed as well as nutritional properties. Feed binders market is observing an exponential growth based on its high usage in the feed industry. Feed binders help in improving the feed quality by keeping the individual feed components intact. Additionally, growing demand for high-quality animal feed and increasing awareness regarding livestock health among the livestock holder is driving the growth.
The Global Feed Binders Market is projected to propel by increasing awareness regarding available benefits to livestock animals from the feed binders. Additionally, the feed binders market is growing due to increasing meat & meat products consumption. In addition to rising meat consumption, improving quality of feed, and industrialization of livestock farming are likely to drive the global feed binders market. Increased demand for feed binders to bind different feed components together into stabilized form is pushing the market growth in a positive direction.
Furthermore, advance processing methods & technologies, and high opportunities in developing countries are positively supporting the growth of the market. However, the high cost of processing techniques and raw materials may hamper the feed binders market over the review period. The market players are responding to these new opportunities by expanding their product line, which has boosted the share of the feed binders in the global market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 3.8% of the feed binders market during the forecast period, 2017-2023.
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The major players in the feed binders market
The global feed binders market is segmented into type and livestock.
Based on the type, it is segmented into gums & starches, clay, hydrocolloids, gelatin, molasses, wheat gluten, and others. Among all, the clay segment is dominating the market followed by hydrocolloids.
Based on the livestock, it is segmented into poultry, swine, ruminants, aquatic, and others. Among all, the poultry segment is dominating the market based on increased consumption of poultry and meat products globally.
The global feed binders market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is dominating the feed binders market followed by North America owing to rising population followed by increasing consumption of poultry and meat products in the developing regions. Moreover, increased demand for superior quality animal feed with enhanced stability & functionality is driving the market of feed binders in the Asia Pacific region.
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Furthermore, the U.S. dominates the North American feed binders market. Increased demand for poultry products in the North American region is likely to boost the feed binders market over the forecast period. Additionally, the major key players are actively involved in the research & developments of the product for enhanced functionality.
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