Global feed binders market is expected to witness significant growth over the next seven years owing to increasing meat and meat products consumption. Increasing consumer awareness associated with importance of animal nutrition is anticipated to fuel market growth over the foreseeable future. Feed binders act as important basic animal feed mix ingredients that are useful to provide essential nutrition and aid in improving the overall animal growth. Shifting global consumer preferences towards pelleted feed is projected to augment feed binders market growth over the foreseeable future. Increasing consumer disposable income coupled with economic developments is presumed to augment feed binders market growth over the forecast period. Increasing global meat trade is anticipated to be another major factor driving feed binders market growth. Volatile raw material prices coupled with growing feed binders inclusion cost in the basic animal feed mix is anticipated to hinder market growth over the forecast period. Increasing natural feed binders cost such as starch, lignin and wheat is presumed to offer immense opportunities to market participants over the next seven years.
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On the basis of products, global feed binders have been segmented as synthetic binders and natural binders. Synthetic binders include urea-formaldehyde and polymethylolcarbamide. On the basis of livestock, global feed binders have been categorized as poultry, swine, ruminant, horses and aquaculture. Asia Pacific is expected to be the fastest growing feed binders market over the forecast period owing to increasing consumer awareness regarding animal nutrition and rising disposable income in the region. China, Japan and India are anticipated to be the frontrunners owing to increasing aquaculture activities in the region. North America is expected to witness significant growth in feed binders demand in next few years owing to increasing meat and meat products consumption in the region. U.S. is projected to be the frontrunner owing to increasing meat exports demand in the region.
Key players operating in global feed binders market include Danisco, CP kelco, AVEBA U.A, Borregaard, Archer Daniels Midlands Company and Ingredion Incorporated. M&A and JV’s are expected to be the key strategies followed by industry participants over the forecast period to increase their market share.
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