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Feed Binders Market Share, Growth, Demand and Recent Developments Report 2023 - 2030

Feed Binders Market Share, Growth, Demand and Recent Developments Report 2023 - 2030

Feed Binders Market Outlook

The Global Feed Binders Market is expected to grow at a CAGR of 4.1% during the forecast period 2023 - 2030.

Feed binders are substances that are added to animal feed to help the feed maintain its shape and form, making it easier to handle and transport. Feed binders also improve the nutritional value of feed and ensure that it is consumed entirely by animals, thereby reducing feed wastage.

Plant-based feed binders, such as guar gum, pectin, and cellulose, are widely used in animal feed as they are natural, easily available, and cost-effective. Clay-based feed binders, such as bentonite and montmorillonite, are also popular due to their ability to improve feed quality and reduce digestive problems in animals. Molasses is commonly used as a binder in cattle feed, while wheat gluten is used in poultry and pig feed.

The global feed binders market is expected to grow at a significant pace in the coming years, driven by the increasing consumption of animal meat, increasing focus on animal health and nutrition, and the growth of the animal husbandry industry. According to the FAO, food demand is expected to increase by 60% by 2050, with animal proteins expected to rise at 1.7 percent per year.

However, the increasing cost of raw materials of feed binders is expected to hamper the feed binders market growth. Binding agents are highly effective binders but are very expensive to include in the feed. To optimize the cost of feed ingredients, compound feed mixers, or livestock, farmers opt for binders with high-cohesive properties to reduce the amount of inclusion as well as to limit the cost.

The high demand for feed binders in the poultry feed industry in Asia Pacific is a major factor driving the growth of the Asia Pacific feed binders market. According to the OECD-FAO, India's consumption of poultry meat has been steadily increasing and it went from 3,428.04 thousand tons in 2016 to 3,819.24 thousand tons in 2019.

For More Insights: https://www.datamintelligence.com/research-report/feed-binders-market

Recent Product Launches in the Feed Binders Market

Key players such as Beneo, Borregaard, CP Kelco, Roquette Freres and Uniscope in the market are adopting strategies such as product launches and mergers & acquisitions. Some of the recent product launches by key players are:

1.    In 2021, ADM launched a new feed binder product, called EnzymeBond, which uses proprietary enzymes to create a natural bond between feed ingredients. This product is designed to help improve feed efficiency and reduce waste.

2.    DuPont introduced a new feed binder product, called BETAFIBER, which is made from naturally-sourced beet pulp fiber, in 2021. This product is designed to improve the texture and consistency of feed, while also supporting animal gut health.

3.    In 2021, Roquette launched a new feed binder product, called LYCAFEED, which is made from pea protein. This product is designed to improve the pellet quality and durability of animal feed, while also providing a sustainable and plant-based alternative to traditional feed binders.

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