The Feed Binders Market was valued at $1.2 billion in 2021, and is estimated to reach $2.4 billion by 2031, growing at a CAGR of 7.1% from 2022 to 2031.
— Allied Market Research
PORTLAND, OREGON, UNITED STATES, September 21, 2023/EINPresswire.com/ — Feed binders are used to hold or bind different feed components together. Feed binding involves a variety of methods, including pelleting, gelatinizing natural starches in feed materials, and steaming/cooking. Binders are used in animal nutrition to improve the quality and properties of animal feed and to boost features such as overall gut health/digestive performance, palatability preservation, and others. The feed binders industry gained significant importance globally as they enhance the health of animals, which in turn improves the quality and quantity of meat produced.
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Some of the major players operating in the global feed binders market are analyzed in this report including AF Suter, Allwyn Chem Industries, Archer-Daniels-Midland Company, AVEBE, BASF SE, BENEO GmbH, Bentoli, Borregaard AS, Chemorse, CP Kelco U.S., Inc., Darling Ingredients Inc., Dupont, Emsland Group, Gelita AG, IRO Alginate Industry Co., Ltd., Kemin Industries, Inc., Natural Remedies, Roquette Freres, Uniscope, Inc, and Visco Starch.
It also helps in improving the feed quality, thus improving the performance, and health of animals. The benefits of binders include better animal performance, disease control, and enhanced material handling. Furthermore, it also helps in keeping the feed as a whole and prevents them from decomposition.
The feed binders market size is witnessing significant opportunities owing to a surge in demand for processed meat, which increased the consumption of feed binders, thereby boosting the demand for binders in the animal nutrition and feed industry. However, different government regulations toward the use of certain synthetic binders and increases in the production cost of effective feed binders restrict the growth of the animal feed binders industry.
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The pandemic has forced people to stay at home. This resulted in the increased adoption of pets. Various scientific studies had proved that having a companion animal such as a dog or cat is beneficial for mental health. Therefore, in the crisis situation, the adoption of pets increased and the bond between humans and pets improved. Furthermore, this pandemic situation has forced people to shift towards e-commerce channels due to social distancing norms. There has been an upsurge in e-commerce channels due to the lockdown. The feed binders market growth in the future is expected to become dependent significantly on online distribution channels to a great extent. All the major players in the global feed binders market are focusing on their online distribution channels in order to remain competitive, survive, and increase their market share in terms of revenue.
Companies can operate the rate business in a highly competitive market by launching new products or updated versions of existing products. Recently, many leading players opted for product launch, acquisition, and collaboration as business strategies to strengthen their foothold in the feed binders market. To understand the key feed binders market trends, the strategies of leading players are analyzed in the report.
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The global animal feed binders market analysis is segmented based on type, nature, animal, and region. Based on type, the market is categorized into calcium lignosulphonate, guar gum, and others. According to nature, it is segmented into natural and conventional. As per animal, the market is segmented into livestock and companion. Livestock is further bifurcated into ruminants, poultry, and others.
Key findings of the study
By type, calcium lignosulphonate accounted for the highest market share in 2021, growing at a CAGR of 6.8% from 2022 to 2031.
By animal, the livestock segment accounted for the highest feed binders market share in 2021, growing at a CAGR of 6.9% from 2022 to 2031.
By livestock, the poultry sub-segment accounted for the highest market share in 2021, growing at a CAGR of 6.6% from 2022 to 2031.
By nature, the conventional segment accounted for the highest feed binders market share in 2021, growing at a CAGR of 6.9% from 2022 to 2031.
By region, Asia-Pacific occupied the maximum share in the market in 2021 and is expected to be the dominating segment during the feed binders market forecast period.