The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Feed Binders Market.
It was estimated prior to this unanticipated outbreak that the Feed Binders Market was expected to grow at a CAGR of 3.4% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
For a more detailed breakdown of the COVID-19 impact on the Feed Binders Market, request a free sample of the report here:
Feed binders are the additives that are added to bind or hold the various feed ingredients together into stabilized feed form to improve the feed performance.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Click here for description of the report:
Based on the feed binder type, the market is segmented as clay, plant gums & starches, gelatin, molasses, lignosulphonates, hemicellulose, CMC & other hydrocolloids, wheat gluten & middlings, and others. The clay segment captured the largest share of the market in 2019, due to its high use in the aqua feed products, and is expected to maintain its legacy during the forecast period as well.
Based on the livestock type, the feed binders’ market is segmented as poultry, swine, ruminants, and other animals. In 2019, the poultry segment dominated the market. The growth of the segment is attributable to the increasing consumption of poultry products. The segment is likely to maintain its dominance during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest-growing feed binders’ market during the forecast period, with China, India, Indonesia, Thailand, and Vietnam being the major countries, where meat products’ consumption is going to increase at a high rate in the coming years.
Some of the major feed binder manufacturers are-
The Archer Daniels Midland Company