Market Trends of Asia-Pacific Feed Binders Industry
This section covers the major market trends shaping the APAC Feed Binders Market according to our research experts:
Increased Industrialization of Livestock
The increased demand for meat and animal-based products in the region is driving the market for feed additives like binders. The growth of the feed additives market in the region is mainly driven by the increasing poultry production, rising animal health concerns, and growing industrialization of livestock. Countries like China, Japan, Australia, Thailand are witnessing an increased number of training programs, in order to improve livestock productivity. Studies are being carried out in these countries, to understand the major livestock production problems, opportunities, and potential interventions, particularly in the livestock feed aspects, in order to improve the production and productivity of livestock, thereby, surging the demand for feed additives in these countries. Wheat and wheat gluten are the most efficient and cost-effective feed binding ingredients. Byproducts and distillers' grains are low in carbohydrate, which is required to properly bind pellets and are less frequently used in the industry. The several uses of binders in the compound feed raise the demand for the same in the feed industry, thereby, driving the market growth in the study period.
Increased Compound Feed Production
The growth of the Feed binder market is primarily because of the expansion of the animal meat market. In Asia pacific, China being the forerunner comprising of half of the market share in the feed binders market which is driven by demand, technology, availability of labor and resources. According to the Alltech 2019, china has the largest number of feed mills in the country resulting in increased feed production in the region. Aquaculture feeds is the largest segment among livestock. Leading players have focused on research and development and manufacture of feed binders to capitalize on the growth trend. Expansion in animal-derived products market especially fish and fish products and increasing awareness for animal protein have further amplified the market growth.Increased meat consumption and rise in health concerns in livestock in the region have made the market to consume a higher quantity of feed binders. The techniques involved in binding the feed to make pellets increase the cost of processing, thereby restraining the growth of feed binders market.
