New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Feed Binders Global Market Report 2023" - https://www.reportlinker.com/p06438623/?utm_source=GNW
, Alltech, Visco Starch, BASF SE, Bentoli AgriNutrition India Pvt Ltd., Allwyn Chem Industries, and Uniscope Inc.,
The global feed binders market grew from $5.19 billion in 2022 to $5.48 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The feed binders market is expected to grow to $6.61 billion in 2027 at a CAGR of 4.8%.
The feed binder market consists of sales of wheat gluten, pea starch, and guar gum.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Feed binders refer to the ingredients added to the feed to enhance the livestock’s feed performance.These are the ingredients that are used to keep feed components intact to maintain the structure and consistency of the feed and prevent the decomposition of feed ingredients.
They are also used to improve livestock health, reduce livestock diseases, and improve the stability of the feed.
Asia-Pacific was the largest region in the feed binders market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in this feed binders market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main types of feed binders are lignosulfonates, plant gums and starches, gelatin and other hydrocolloids, molasses, clay, and other types.The lignosulfonates refer to brown amorphous powder that supplies natural soluble carbohydrates required for metabolic energy.
The various sources are natural and synthetic. The various applications include moist, pellets, and crumbles.
The increasing consumption of livestock-based products is expected to propel the growth of the feed binders market going forward.Livestock-based products refer to products derived from animals such as meat and meat products, poultry products (meat and eggs), fish, shellfish, and dairy products (milk and cheese).
Feed binder is incorporated into livestock feed to trap mycotoxins and prevent them from entering the bloodstream, where they could cause catastrophic injury to the animals. For instance, in March 2022, according to the Australian Bureau of Statistics, an Australian government agency responsible for statistical collection and analysis, in terms of seasonal adjustments for the quarter ending March 2022, chicken meat production increased by 3.2%. Therefore, the increasing consumption of livestock-based products is driving the feed binders market.
Product innovations are a key trend gaining popularity in the feed binder market.Major companies operating in the feed binders market are focused on developing new products to sustain their position in the market.
For instance, in February 2020, CRA-VAC Industries Inc., a Canada-based feed binder manufacturer, launched Protein-Plus Halal, an innovative halal pellet binder with an excellent amino acid profile that is also a pork-product-free binder. Protein-Plus Halal is specially designed and developed for feed manufacturers in areas where halal goods are desirable, if not required.
In April 2021, Eastman Chemical, a US-based specialty materials company, acquired 3F Feed & Food for an undisclosed amount. Through this acquisition, Eastman aims to boost and support the ongoing global growth of its animal nutrition business. 3F Feed & Food is a Spain-based developer of additives for animal feed and human food operating in the feed binders market.
The countries covered in the feed binders market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The feed binders market research report is one of a series of new reports that provides feed binders market statistics, including feed binders industry global market size, regional shares, competitors with a feed binders market share, detailed feed binders market segments, market trends and opportunities, and any further data you may need to thrive in the feed binders industry. This feed binders market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
Read the full report: https://www.reportlinker.com/p06438623/?utm_source=GNW
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