Feed Binders Market Synopsis
As per the assessment by Market Research Future (MRFR), the feed binders market is anticipated to procure a notable market share, expanding at a CAGR of 3.67% during the evaluation period from 2022 to 2030.
The increasing demand for feed owing to the rising consumption of meat is likely to be a significant factor driving the feed binders market share in 2022. Besides, the growing awareness of animal health is anticipated to enhance demand for the firming agent and augment the market in the review period. The benefits of feed binders like improved animal performance and disease control are likely to increase their demand, which can expand the market. The shift in consumer preference towards pallet shaped feed is likely to bolster the need for binders and underpin market development.
On the contrary, the increasing price of raw materials is anticipated to hamper the market growth in the forecast period. However, the prevailing opportunities in developing countries are projected to boost the demand for feed binders and develop the market.
Key Players
Some of the established players of the feed binders market are Avebe U.A. (the Netherlands), E. I. du Pont de Nemours and Company (U.S.), Archer-Daniels-Midland Company (U.S.), J.M. Huber Corporation (U.S.), Roquette Freres S.A. (France), Darling Ingredients Inc. (U.S.), FMC Corporation (U.S.), Emsland-Starke GmbH (Germany), CP Kelco U.S., Inc. (U.S.), and Gelita AG (Germany).
Market Segmentation
The segmental analysis of the global feed binders market research report is done by type and livestock.
The type-based segments of the global feed binders market are clay, gums & starches, hydrocolloids, molasses, gelatin, wheat gluten, and others. Among all, the clay segment is anticipated to dominate the market, followed by the hydrocolloids market due to its application in aquafeed products.
The livestock-based segments of the global feed binders market are swine, aquatic, poultry, ruminants, and others. Among all, the poultry segment is expected to dominate the market, owing to the rising consumption of meat and poultry.
Regional Analysis
Based on region, the feed binders market is segmented into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).
As per the assessment, the global feed binders market share is projected to be dominated by the APAC region during the forecast period owing to the increasing population of meat consumers. The growing populations of developing countries like India, China, and Japan are projected to play a significant role in developing the regional market.
North America is projected to acquire second position owing to the increasing demand for poultry. The growing demand for superior quality animal feed is likely further to drive the regional market during the review period. The U.S. is expected to lead the regional market owing to the presence of key players during the review period. Moreover, technological development in the product is anticipated to drive the regional market.
Europe market is projected to procure considerable market share during the projection period owing to the increased demand for better animal feed. Countries like the U.K. and Germany are expected to expand the regional market owing to the presence of established key players. Furthermore, the increased consumption of meat is anticipated to grow the regional market.
The MEA region is anticipated to acquire the smallest market share during the forecast period owing to the slow development in the region. The presence of various untapped opportunities in the region is predicted to underpin the regional market. The growing consumption of meat and the demand for better performance of animals is projected to drive the regional market in the review period.
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