Press release
Global Feed Binders Market: Rise in Meat Consumption Fueling Market Growth
Natural animal feed binders and synthetic feed binders are the two main types of feed binders available in the global market. The market for natural animal feed binders occupies a bigger share in the overall market comparing to synthetic one owing to the rising demand for natural products.
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Cattle, aquaculture, poultry, swine, and others are the key market segments of the global feed binders market based on livestock. The market for aquaculture is likely to hold the biggest share in the global feed binder market in the near future. The poultry industry is also expected to report significant growth in the coming years. However, the rising cost of raw materials is expected to hamper the growth of the global feed binders market.
Feed Binders Market: Asia Pacific to Maintain Dominance
The feed binders market in Asia Pacific has occupied the leading position in the global feed binders market constituting North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa.
The rising consumption of meat is the main reason for the growth of feed binders market in this region. The ample availability of resources coupled with inexpensive workforce in economies such as India, China, and Japan is likely to drive the Asia Pacific feed binders market in the coming years. Analysts expect China to emerge as the biggest consumer of feed binders in Asia Pacific in the near future.
In the long run, Asia Pacific is predicted to maintain its dominance in the global feed binders market. The regional market is also expected to report the fastest growth rate in the coming years due to the rising awareness among farmers regarding pelleted feed coupled with various government initiatives in this regions. Apart from this, several Asian countries such as Thailand and Malaysia are likely to witness extensive demand for feed binders on account of the developing aquaculture and increasing demand for fish and fish products in the years to come.
Russia and Brazil Anticipated to Witness Significant Demand for Feed Binders
In the European feed binders market, Russia is anticipated to show extensive growth and occupy the leading position. Various initiatives and subsidies by the governments in this region in order to encourage farmers to domestically produce meat and related products is expected to fuel the feed binders market in Russia.
Analysts also project the feed binders market in Brazil to experience a considerable growth owing to the government’s push for reducing meat imports. The country is a major poultry meat exporter across the world and is projected to witness a surge in the demand for feed binders owing to the increasing demand to enhance the quality of meat.
Feed Binders Market: R&D Emerging as Latest Trend
The major players operating in the feed binders market are Ingredion Inc., Fmc corp., Uniscope Inc., Borregaard, Avebe U.A., Beneo, The Roquette, Cp Kelco, Archer Daniels Midland Co., and Danisco A/S.
Extensive research and development in order to innovate and introduce new products to expand their businesses in untapped market is the latest trend among the participants in the global feed binders market. Other trends prevailing in this market are mergers and acquisitions and setting up of new units in order to push the production capacity.
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