Europe Feed Binders Market size was around USD 840 million in 2021. It is expected to grow at a CAGR of 3.8% to reach USD 1010 million by 2026.
It captures 20% of the global market.Feed binders are employed for several purposes such as improving animal digestion, enhancing the nutrition value of feed, and reducing feed wastage. Feed binders produce nutritious and safe products along with preventing the feeds from disintegrating. They further aid the production of water stable and easy consumable feeds. Feed binders aid in enhancing the feed quality, therby improving the health and performance of animals, which, in turn enhances the quality of food and yield produced from animals. They are also utilized for varying quantities and concentration depending on the species. The advantages of feed binders include better animal performance, disease control, and enhanced material handling. Feed conversion is preferred over pelleted feed comparatively which comprises feed fed as mash. Steadily growing cost of raw materials of feed binders is likely to hinder the growth of the global feed binder market and pose threat to the industry players over the coming years.
Europe Feed Binders Market Drivers:
One of the major factors fuelling the growth of the global feed binders market is the growing consumption of various kinds of non-vegetarian food worldwide. In addition, the shift in consumer preference towards pallet shaped feed is also likely to bolster the demand for feed binders in the near future. Furthermore, the growing trend of organized farming is lifting the consumption of compound feeds by backyard farms and domestic feed integrators. The rising awareness regarding animal health among farmers is also another chief factor that is estimated to boost the growth of the global feed binders market.
However, the growing cost of raw materials is likely to act as a prime inhibitor in the growth of the market. The market is also likely to be adversely impacted by the barriers to entry as old players keep challenging the entry of new players.
Europe Feed Binders Market – By Brand:
Darling Ingredients Inc
Europe Feed Binders Market – By Type:
By geography, the Europe Feed Binders Market has been categorized into UK, Spain, Germany, France and others. It is third largest in terms of market share. UK is the leading player in the region.
Major companies in the Feed Binders Market are Archer Daniels Midland Company (ADM) (U.S.), FMC Corporation (U.S.), E. I. du Pont de Nemours and Company (U.S.), Darling Ingredients Inc. (U.S.), Roquette Freres (France), and Borregaard ASA (Norway).
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