Feed binders are substances which are added to animal feed for various purposes such as to help animal to grow faster and healthier, to add more nutritious content for better digestion, to decrease the feed wastage, to make it palatable for animals, and to help them gain immunity against various infectious viruses and diseases. Thus, feed binders optimize and maintain the health of animals that are finally consumed by humans. Feed binders can be mainly classified as natural binders and synthetic binders.
The driving factors of the demand for feed binders are the awareness regarding the quality of the animal meat that is being consumed and a significant rise in the global meat consumption due to the improvement in the living standards of the people. The main restraint of the industry is the increase in raw material cost of the feed binder, which makes it quite expensive for many manufacturers. The cost of inclusion is the other restraining factor, which is hindering the growth of the feed binders market. The market for feed binders, in terms of revenue, was estimated to be worth around $1,406.5 million in 2012 and is projected to reach $1,749.1 million by 2018, growing at the CAGR of 3.7% from 2013. The leading manufacturers are focusing on expansion of businesses across regions and setting up new plants for increasing production capacity and their product line. The leading industry participants are involved in mergers and acquisitions to penetrate the untapped markets.