The significant demand for pellet-shaped animal feed is expected to bolster the healthy growth of the market, states Fortune Business Insights, in a report, titled “Feed Binders Market Size, Share & Industry Analysis, By Product (Gelatin, Wheat Gluten, Urea-formaldehyde, Polymethylolcarbamide, Clay, Others), By Nature (Natural, Synthetic), By Animal Type (Ruminants, Poultry, Aquaculture, Swine, Others) and Regional Forecast, 2023-2030.” The growing consumption of high-quality meat can have an outstanding effect on the market.
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The report on the feed binders market features:
- Comprehensive study of the market
- Essential facts about prominent players
- Main regions in the market
- Key drivers and trends
- Significant development
Market Driver:
Growing Inclination towards protein-rich Diets to Aid Growth
The growing demand for meat among health-conscious consumers owing to its protein-rich nutritional value is expected to bolster the growth of the market during the forecast period. The increasing inclination towards animal health and welfare can further elevate the market growth. According to the Food and Agriculture Organization (FAO) of the United Nations, global yearly meat consumption per capita is predictable to extend to 35.3 kg retail weight equivalent (r.w.e.) by 2025. Global meat production is projected to be 16% higher in 2025 than in 2014. The heavy demand for animal-based products, including meat and meat products, eggs can encourage the healthy growth of the market. Moreover, the rising utilization of nutritive feed binders during the production of animal feed can contribute positively to the growth of the market. Besides, the easy transportation of feed binders owing to its lower risk for physical breakdowns during handling and transportation is expected to further encourage manufacturers to invest heavily in production, which, in turn, can accelerate the market growth.
However, the high price of the binders is expected to hamper the price of the animal feed, which, in turn, can impede the development of the market.
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Regional Analysis:
Surging Aquaculture Industry to Stimulate Growth in North America
The market in North America is expected to account for the largest share in the global market owing to the increasing aquaculture industry. The flourishing aquaculture industry coupled with government support in the United States and Canada are factors expected to boost growth in the region. For instance, the Department of Commerce introduced an aquaculture policy to support the development of a sustainable aquaculture industry. Asia Pacific is expected to develop radically during the forecast period owing to the increasing production of poultry and ruminants. The growing concerns regarding animal health are expected to spur demand for good quality feed, which, in turn, can enable expansion of the market. The growing utilization of nutritive feed binders in the production of animal feed is expected to further boost growth in Asia Pacific. The increasing meat consumption and production in India, China, and Japan can further improve the prospects of the market in the forthcoming years.
The Report Lists the Main Companies in the Feed Binders Market:
- FMC Corporation
- Archer Daniels Midland Company
- DuPont
- Darling Ingredients Inc.
- Borregaard ASA
- Roquette Freres
- Gelita AG
- CP Kelco Inc.
- Emsland Starke GmbH
- Avebe U.A.
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Key Development:
February 2023: Cra-Vac, Toronto based company announced the launch of its new halal pellet binder. The company is actively focused on the production of feed ingredients and binders for use in feed and pellets.
August 2019: Pestell Group signed an agreement to acquire Verus Animal Nutrition and Pro-Ag products. Pro-Ag is a supplier of feed ingredients, animal health products, and feed additives.
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