|Fastest Growing Market:||Asia Pacific|
|Largest Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The feed binders market is projected to record a CAGR of 4.2% during the forecast period (2022-2027).
International meat prices declined in 2020 due to the impact of COVID-19, which temporarily curtailed meat demand by some leading consuming and importing countries. Logistical hurdles, reduced food service, and reduced household spending due to lower incomes contributed to this reduced demand. Companies were forced to shut down their facilities due to the lack of supply and demand. The Essen, a Germany-based feed additive and specialty chemical company, shut down its contracted production facility for mycotoxin detoxifiers.
The rising demand for high nutritional standards with proper gut health among the consumers, the health issues among livestock, the increasing consumer spending levels, and the ongoing health trends are anticipated to boost the growth of the feed binder market during the forecast period.
Asia-Pacific was the largest geographical segment of the market studied. The growth in the feed binder market is primarily because of the expansion of the animal meat market. Increased global meat consumption and rising health concerns in livestock have made the top economies consume a higher quantity of feed binders. According to the OECD-FAO, the consumption of poultry meat showed consistent growth, increasing from 128.1 thousand ton in 2020 to 133.3 thousand ton in 2021. Thus, the demand for feed binders to improve animal health is increasing. Therefore, the preference for animal feed binders is likely to decline during the forecast period.
Scope of the Report
Animal feed binders are used for durability and resistance to physical breakdown during the handling and storage of feeds. Some binders also have additional nutritional value. Unlike feed for livestock, feed for aquaculture requires an adequate level of processing to guarantee good stability in water, long enough for animals to consume it. For this reason, the role of binders is crucial in determining variable levels of firmness adequate to specific feeding behavior. The report offers market size and forecast in value (USD million) for all above the segments.
|Other Animal Types|
Key Market Trends
Expansion of Animal Meat Market
The growth of the feed binders market is primarily because of the expansion of the animal meat market. According to the OECD-FAO, the consumption of animal meat showed consistent growth, increasing from 320,446.2 thousand ton in 2017 to 328,250.3 thousand ton in 2020. Increased global meat consumption and rising health concerns in livestock have made the market consume a higher quantity of feed binders. The techniques involved in binding the feed to make pellets increase the cost of processing, thereby restraining the growth of the feed binders market. Leading companies are looking for innovations in the field by venturing into R&D for better production and management techniques.
Considering the business-as-usual (BAU) scenario, the total meat and fish consumption in Asia-Pacific may rise by 73% by 2050, according to a report published by Asia Research & Engagement (ARE) and sponsored by ADM Capital. However, the Food and Agricultural Organization’s (FAO) report on “Mapping Supply and Demand for Animal Produce to 2030” pegs growth in some regions (such as South Asia) at more than 300%. Thus, the demand derived from these forces has put the animal health industry, including binder additives, in an ever-expanding phase, thus boosting revenues.
To understand key trends, Download Sample Report
Asia-Pacific is the Largest Market
Asia-Pacific is the largest market for feed binders, with China comprising half of the market share, driven by demand, technology, availability of labor, and resources. China is followed closely by North America and Europe.
China, the United States, the European Union, Brazil, and Russia are the world's top five meat producers. China is projected to account for most of the total increase in meat production, followed by Brazil and the United States. Governmental initiatives heavily influence the Chinese animal feed binders industry. The country’s efforts to modernize and find efficiencies in its structure and the increasing demand for meat to meet the nutritional needs of the growing population are among the major factors driving the growth of the mycotoxin detoxifier market.
Countries like Indonesia have a high potential to produce organic binders, which provide an effective way of detoxifying mycotoxin in feed. This factor is likely to enhance the scope of the feed additives market and boost the growth of the aquaculture industry.
To understand geography trends, Download Sample Report
The feed binders market is fragmented, with major players accounting for less than 30% of the market. The hindered growth of regional markets and local players in different parts of the world is the major factor for the fragmented nature of the market. Asia-Pacific and North America are the two regions showing maximum competition. The key players in the market are competing against each other by investing in research to launch new products and adopting strategies such as mergers and acquisitions and partnerships.
Kemin Industries Inc.
Bluestar Adisseo Inc.
In 2021, ADM acquired a part of BNA Nutrition Animale Sp. Zoo, Mixscience Polska, specifically its commercial team and premix client list in Poland. This acquisition is likely to be a step forward in Wisium’s expansion in Poland and central Europe, the global brand for ADM's premix and services business.
In 2021, DSM launched its newest mycotoxin risk management solution, Mycofix Plus 5.Z with ZENzyme, in the Asia-Pacific region. It is a next-generation mycotoxin risk management for breeding animals and their offspring, which strengthens the company’s diverse portfolio in the region.
Companies are investing heavily to develop new products. They are also collaborating with and acquiring other companies. For instance, in 2020, Biochem expanded its mycotoxin management portfolio with the launch of B.I.O.Tox Activ8 Mycotoxin Binder.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.2 Animal Type
5.2.5 Other Animal Types
5.3.1 North America
184.108.40.206 United States
220.127.116.11 Rest of North America
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 Rest of Asia Pacific
5.3.4 South America
188.8.131.52 Rest of South America
5.3.5 Middle-East and Africa
184.108.40.206 Saudi Arabia
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.3 Cp Kelco
6.3.4 Danisco AS
6.3.5 Fmc Corporation
6.3.6 Vetsfarma Ltd
6.3.7 Roquette Frères
6.3.8 Uniscope Inc.
6.3.9 Allywn Chem Industries
6.3.10 Visco Starch
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Frequently Asked Questions
What is the study period of this market?
The Feed Binders Market market is studied from 2017 - 2027.
What is the growth rate of Feed Binders Market?
The Feed Binders Market is growing at a CAGR of 4.2% over the next 5 years.
Which region has highest growth rate in Feed Binders Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Feed Binders Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Feed Binders Market?
Alltech Inc., DSM, ADM, Kemin Industries Inc., Bluestar Adisseo Inc. are the major companies operating in Feed Binders Market.