The “Feed Binders Market size is estimated to account for a value of USD 4.5 billion in 2020 and is projected to grow at a CAGR 3.0% from 2020, to reach a value of USD 5.1 billion by 2025.
The rise in demand for feed due to the increased consumption of livestock-based products is projected to drive the growth of the market. The increasing awareness among manufacturers about the benefits offered by feed binders is projected to drive the market growth during the forecast period. Feed binders serve as an additive that can reduce the dusty and powdery nature of fine ground feed materials. In order to reduce the total operating cost, from manufacturing to its consumption stage, feed binders are observed to increase the health benefits of feed materials, and thus, are widely being opted by feed manufacturers.
The natural segment is projected to hold the largest share in the market during the forecast period. With the increasing demand for organic animal feed and pet food, the demand for natural feed ingredients is increasing from the manufacturers of organic animal feed, aquafeed, and pet food. Consumers are now more conscious of the ingredients in animal feed. Additionally, since the demand for organic and natural food is increasing among consumers, pet owners want the same for their pets. Consumers expect the food for their pets to be made without any synthetic ingredients, such as artificial colors, flavors or preservatives, antibiotics, synthetic hormones, or toxic pesticides. Thus, the demand for natural animal feed and pet food ingredients is increasing.
Asia Pacific is witnessing a high demand for feed binders for use mainly in the poultry feed industry. The population in developing countries of the Asia Pacific region—such as India, China, Indonesia, Vietnam, and Thailand—are projected to increase the consumption of meat products at an annual rate of 2.4% till 2030, according to the FAO report on “World Agriculture: Towards 2015/2030.” These factors have increased the demand for high-quality feed, and thereby, for feed binders to enhance the structural integrity and reduce the loss of feed ingredients.
Leading companies are Archer Daniels Midland Company (US), DuPont (US), Darling Ingredients Inc. (US), Roquette Freres (France), Borregaard ASA (Norway), Gelita AG (Germany), CP Kelco Inc. (US), and Avebe U.A. (Netherlands).
