PUBLISHER: Allied Market Research | PRODUCT CODE: 1193363
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193363
The global feed binder market was valued at $1,232.00 million in 2021 and is expected to reach $2,425.8 million by 2031, registering a CAGR of 7.1% from 2022-2031. Feed binders are the products that are used to bind, glue, or hold the combination of the various feed components which will help feeds keep their integrity during subsequent processes once they are extruded. Binders are used in animal nutrition to enhance the quality and properties of animal feed and to boost features such as overall gut health/digestive performance, palatability preservation, and others. They have gained significant importance globally as they improve the overall health of animals, which in turn improves the quality and quantity of meat produced. Moreover, they help in improving the feed quality, thus improving the performance, and health of animals. The benefits of binders include better animal performance, disease control, and enhanced material handling. Furthermore, it also helps in keeping the feed as a whole and prevents them from decomposition.
The rise in popularity of natural solutions for pet food nutrition provides an opportunity for the market to grow since pet owners continue to be extremely sensitive and worried about the nature, reliability, and origin of the components used in the production of pet food. These days, having pets is also becoming more popular. Agriculture and Agri-Food Canada reports that there is a pet population of 27.9 million pets in Canada in 2020. Retail sales of pet food were valued at Can$ 4.2 billion in 2020. Dog food was the largest pet food category with retail sales of Can$2.8 billion whereas cat food was valued at Can$1.4 billion.
Along with this, there is an opportunity for the market to grow since feed binders are in high demand in Asia-Pacific, where they are mostly used in the poultry feed sector. According to the FAO report "World Agriculture: Towards 2030/2050," the population of developing nations in the Asia-Pacific region, including India, China, and Indonesia, is expected to increase their consumption of meat products at an annual rate of 2.4% until 2050. Due to such factors, there will be a huge demand for high-quality feed and thereby for feed binders. Hence, there is a great opportunity for the manufacturers to increase their market share.
The global animal feed binder market is segmented based on type, nature, animal, and region. Based on types, the market is categorized into calcium lignosulphonate, guar gum, and others. As per nature, it is segmented into natural and conventional. According to animals, the market is classified into livestock and companion. Livestock is further bifurcated into ruminants, poultry, and others.
By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, Indonesia, the rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, South Africa, and rest of LAMEA).
By Nature
By Type
By Animal
By Region