Increasing Global Demand for Poultry Fosters the Feed Binders Market Growth during the Assessment Period

Globally, the increasing demand for poultry, owing to its easy availability drives the feed binders market growth. Poultry farming is gaining momentum in the fast-developing economies on account of governmental support to diversify the income of farmers. The fast-food industry is another area that has created upswings for the poultry industry. As per the Poultry Hub Organisation, the global poultry production was around 111,000 thousand metric tons in the year 2015 and is projected to reach a value of around 131,255 thousand by the year 2025, which is an increase of around 24%. 

Poultry farmers are looking to increase the nutritional value of the feeds that go to the poultry and help in digestion, improve meat quality in a sustainable way, and reduce any bacterial infection in the live stocks. Feed binders are an excellent alternative for regular feed since it helps in pelleting the feed that reduces the waste of the feed, bulkiness,and molds, among other things, and at the same time increases the nutritional content of the feed.

COVID-19 Impact Analysis

The impact of the novel coronavirus outbreak is visible in all sectors globally and has led to widespread disruption in the supply chain, leading to an increase in inventory and few buyers. Furthermore, the sealing of borders and limited transportation is changing the very meaning of globalization. Countries are closing borders, and there is an apprehension to buy from the largest suppliers of feed binders, China. Disruption of trade has led to an increase in the raw material prices that are projected to further impact the market growth of feed binders in the coming months.

Market Segments

1. By Type
   
   1. Clay
   2. Plant Gums and Starches
   3. Gelatin
   4. Molasses
   5. Lignosulfonate
   6. Hemicellulose
   7. CMC and Other Hydrocolloids
   8. Wheat Gluten and Middlings
2. By Livestock
   
   1. Poultry
   2. Swine
   3. Ruminants
   4. Horses