Newark, NJ, May 30, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global feed binder market is expected to grow from USD 5.10 billion in 2019 to USD 6.58 billion by 2027, at a CAGR of 3.5% during the forecast period 2020-2027. Asia-Pacific region is expected to dominate the market and portray the highest growth rate during the forecast period. China and India have the largest share in the area. The increasing population in developing economies is rising the consumption of meat in the region driving market growth. The technological advancements and rise in aquaculture are expected to fuel the market growth. The commercial feed market for poultry and swine industries is growing in the region, contributing to market growth. North America and Europe have the second and third largest share across the globe. The fertilizers industry and health industry are also utilizing feed binders in the USA, contributing to the growth of the region.
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The leading players of the market include AVEBE U.A, Danisco, CP Kelco, Archer Daniels Midland Company, Beneo GmbH, Ingedion Incorporated and Borregaard, FMC Corporation, The Roquette Group, and Uniscope, Inc. The market is consolidated due to growth restraints and widespread presence of local players across different regions. The companies are focusing on research and development for improving their production capacity and expanding market share.
This study delivers a comprehensive analysis of livestock, type, and regions. On the basis of livestock, the market can be divided into swine, poultry, ruminants, and other animals. The poultry segment is expected to contribute the highest market share. The rise in the production of meat globally is the primary factor for the growth of the market. The rapid growth in the quantity of meat production is driving the demand for superior quality of feed. On the basis of type, the market can be divided into plant gums & starches, clay, gelatin, lignosulphonates, molasses, hemicellulose, wheat gluten & middlings, and CMC & other hydrocolloids. The hemicellulose, lignosulphonates, and CMC & other hydrocolloids segments are expected to portray the highest growth rate. The structural integrity and, emulsifying and binding features helped in the growth of the segment. The productivity of the pellets made from these types of feed binders increases significantly.
The rise in meat consumption due to increasing urbanization, changes in lifestyle, rise in incomes, and easy affordability has driven the growth of feed binders market. The surge in demand for pellet-shaped feed is anticipated to fuel the growth of feed binders market. It also helps to reduce environmental damage related to waste disposal or manure. The rising concerns for animal health and reduction of operating costs has contributed to the growth of the market. Unstable supply of raw materials, fluctuations in prices, and strict regulatory requirements are expected to hinder the growth of the market.
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About the report:
The global feed binder market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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