DUBLIN–(BUSINESS WIRE)–The “Feed Binders Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.
The feed binders market is projected to grow at 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, reduced household spending due to lower incomes all contributed to this reduced demand. Companies are forced to shut down their facilities due to the lack of supplies and demand. The Essen, Germany-based feed additive and specialty chemical company, had shuttered its contracted production facility for mycotoxin detoxifiers.
The rising demand for high nutritional standards with proper gut health among the consumers, the counter the health issues among livestock, the increasing consumer spending levels, and the ongoing health trends are anticipated to bolster the growth of the global feed binder market during the forecast period.
Key Market Trends
Expansion of Animal Meat Market
The growth of the Feed binder market is primarily because of the expansion of the animal meat market. According to the OECD-FAO, the consumption of animal meat has shown consistent growth. It increased from 320,446.2 thousand ton in 2017 to 328,250.3 thousand ton in 2020. Increased global meat consumption and a rise in health concerns in livestock have made the market to 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 a business-as-usual (BAU) scenario, the total meat and fish consumption in Asia-Pacific are projected to 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 additive in an ever-expanding phase, and thereby, driving forward revenues.
Asia-Pacific is the Largest Market
Asia-Pacific is the largest market for feed binders with China being the forerunner comprising of half of the market share driven by demand, technology, availability of labor, and resources in the sector followed closely by both North America and Europe.
The production share of the world’s top 5 meat producers is China, the United States, the European Union, Brazil, and Russia. China is projected to account for most of the total increase in meat production, followed by Brazil and the United States. The Chinese animal feed binders industry, currently, is heavily influenced by governmental initiatives. 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 detoxifiers market.?
Countries, like Indonesia, have a high potential to produce organic binders, which provide an effective way of detoxifying mycotoxin in feed. This is likely to enhance the scope of the feed additives market and boost the growth of the aquaculture industry.
Key Topics Covered:
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 Force Analysis
5 MARKET SEGMENTATION
5.2 Animal Type
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia Pacific
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle East & Africa
220.127.116.11 Saudi Arabia
18.104.22.168 United Arab Emirates
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East & 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 A/S
6.3.5 Fmc Corporation
6.3.6 Vetsfarma Ltd.
6.3.7 Roquette Freres
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
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