Portland, OR, Jan. 18, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global feed binders market generated $1.2 billion in 2021, and is estimated to reach $2.4 billion by 2031, witnessing a CAGR of 7.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.2 Billion |
| Market Size in 2031 | $2.4 Billion |
| CAGR | 7.1% |
| No. of Pages in Report | 246 |
| Segments Covered | Nature, Type, Animal, and Region |
| Drivers | An increase in global meat consumption |
| Industrialization of meat products | |
| Rise in awareness of the quality of dairy & meat products | |
| Surge in pet humanization rate | |
| Economic growth, changes in lifestyle, population growth, and other structural changes | |
| Opportunities | Rise in popularity of natural solutions for pet food nutrition |
| Restraints | Rise in the price of raw materials |
Covid-19 Scenario:
- The COVID-19 pandemic forced people to stay at home, which led to the increased adoption of pets. Furthermore, more people used e-commerce channels due to the social distancing norms by governments.
- The rapid growth of the e-commerce channels owing to the shift in consumers’ buying behavior made the market players increase their digital presence.
- This change in buying behavior of consumers significantly impacted the growth of the feed binders industry.
The report offers a detailed segmentation of the global feed binders market based on nature, type, animal, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on nature, the conventional segment held the largest share in 2021, accounting for nearly 90% of the global feed binders market, and would rule the roost through 2031. However, the natural segment is estimated to witness the fastest CAGR of 8.8% during the forecast period.
Based on type, the calcium lignosulphonate segment held the largest share in 2021, capturing nearly three-fifths of the global feed binders market, and would lead the trail through 2031. The guar gum segment, however, is estimated to witness the fastest CAGR of 7.6% during the forecast period. The report also discusses the others segment.
In terms of animal, the livestock segment captured the largest market share of over 90% in 2021 and is expected to lead the trail during the forecast period. The companions segment, on the other hand, is likely to achieve the fastest CAGR of 11.1% through 2031.
Based on region, the market in Asia-Pacific was the largest in 2021, accounting for more than one-third of the global feed binders market share, and is likely to maintain its leadership status during the forecast period. Moreover, the market in the same region is expected to manifest the highest CAGR of 7.6% from 2022 to 2031. The other regions analyzed in the study include North America, Europe, and LAMEA.
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Leading players of the global feed binders market analyzed in the research include AF Suter, ALLWYN CHEM INDUSTRIES, Archer Daniels Midland Company, Avebe, BASF SE, BENEO, Borregaard AS, Chemorse, CP Kelco U.S., Inc, E. I. du Pont de Nemours and Company, Darling Ingredients, Emsland Group, Natural Remedies, IRO Alginate Industry Co., Ltd., Kemin Industries, Inc., Roquette Freres, Uniscope, Inc., Visco Starch, Bentoli, and GELITA AG.
The report analyzes these key players of the global feed binders market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
