Market Size of feed binders Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 4.67 Billion |
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Market Size (2029) | USD 5.84 Billion |
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Largest Share by Sub Additive | Synthetic Binders |
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CAGR (2024 - 2029) | 4.58 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Feed Binders Market Analysis
The Feed Binders Market size is estimated at 4.67 billion USD in 2024, and is expected to reach 5.84 billion USD by 2029, growing at a CAGR of 4.58% during the forecast period (2024-2029).
4.67 Billion
Market Size in 2024 (USD)
5.84 Billion
Market Size in 2029 (USD)
4.97 %
CAGR (2017-2023)
4.58 %
CAGR (2024-2029)
Largest Market by Sub-Additive
61.68 %
value share, Synthetic Binders, 2023
The share of synthetic binders is highest as they help in pelleting the feed and prevent diseases by improving digestion and nutrition intake in animals.
Largest Market by Region
30.60 %
value share, Asia-Pacific, 2023
The higher feed production, high demand for meat, and increasing livestock population are the factors that helped Asia-Pacific to be the largest regional segment in the market.
Fastest-growing Market by Sub-Additive
4.85 %
Projected CAGR, Natural Binders, 2024-2029
The lower price and the production of quality pellets with natural binders are responsible for Natural binders being the fastest-growing sub-additive segment.
Fastest-growing Market by Region
4.94 %
Projected CAGR, North America, 2024-2029
North America is the fastest-growing segment due to increased feed production, higher demand for binders for feed pelleting, and higher adoption rate of feed binders.
Leading Market Player
6.07 %
market share, Cargill Inc., 2022
Cargill Inc. is the market leader due to its strong manufacturing and research infrastructure, strategic partnership with Innovafeed, and acquisition of Diamond V.
- In 2022, the global feed additives market accounted for a significant share of 13% for binders. Binders are used in compound feed to enhance the efficiency of feed additives. Binders are the second-largest feed additive type and are widely used in almost all feed mixtures, making them an essential requirement for commercial animal farmers.
- Among the types of feed binders, synthetic binders had the largest market share globally, estimated at USD 2.6 billion in 2022. Synthetic binders are preferred as they help in pelleting the feed and improving digestion and nutrition intake in animals, thereby preventing diseases.
- However, the natural binders segment is expected to register a higher growth rate during the forecast period, i.e., 4.8%, due to their lower price and ability to produce quality pellets.
- In 2022, Asia-Pacific was the largest region globally with respect to the feed binders market, accounting for a market share of 30.6%. The region's high share was due to its higher feed production, which was directly proportional to the commercial feed produced, estimated at almost 0.5 million metric tons in 2022.
- Countries like the United States and Canada, with higher feed production and additive usage, had a higher demand for binders. Therefore, North America is projected to grow faster in the feed binders market, with a CAGR of 4.9% during the forecast period.
- The feed binders market is expected to register significant growth, driven by increased commercial animal production and the usage of additives to improve animal health and productivity. The market is projected to register a CAGR of 4.6% during the forecast period.
Understand The Key Trends Shaping This Market
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- The global feed binders market has been growing at a significant rate due to the crucial role feed binders play in commercial animal farming. Binders, which are used to bind feed additives to compound feed and increase their efficiency, accounted for 13% of the global feed additives market in 2022, making them the second-largest feed additive type. Binders are a critical component for every commercial animal farmer, as they are used in almost every feed mixture.
- The Asia-Pacific region dominated the global feed binders market, with a market value of USD 1.3 billion in 2022, owing to its higher penetration rate and production of approximately 0.5 billion metric tons of feed. The United States emerged as the largest country in the world concerning the feed binders market, accounting for 19.5% of the market share and reaching USD 0.8 billion due to its highly developed livestock production procedures. China and Brazil followed with 13.8% and 7.1% of the market share, respectively.
- Thailand is expected to be the fastest-growing country in the feed binders market, with a CAGR of 5.6% during the forecast period. This growth is due to the sustainable increase in livestock production with technological and genetic advancements. In 2022, the poultry segment dominated the feed binders market, accounting for 44.5%, followed by swine, which had a market share of 35.4%.
- The cost-benefit ratio of binder usage is estimated to save money for the livestock industry, contributing to the market's growth. The global feed binders market is expected to register a CAGR of 4.6% during the forecast period, driven by the increasing demand for commercial animal farming. The market for feed binders is expected to remain robust in the coming years, with significant growth opportunities for market players.
