According to the latest report by IMARC Group, titled “Silage Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global silage additives market size reached a value of US$ 1,870 Million in 2021. Silage additives are the preserving materials containing anaerobic bacteria that are added to silage to prevent the degradation of the silage and increase the growth of lactic acid bacteria to lower its pH at a faster rate. As well as reducing oxygen levels, they also increase the acidity of lactic acid, which further helps preserve the forage grass that can be used for livestock feeding. The advantages of using silage additives include nutrient enrichment, reduction of storage losses by promoting rapid fermentation and fermentation losses by limiting fermentation extent, and extension of silage bunk life.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Silage Additives Market Trends:
The global market is primarily driven by the increasing adoption of optimum-nutrition cattle feed, along with an enhanced focus on improvising animal health. This can be attributed to the rising consciousness regarding the usability of silage as a suitable alternative for fresh fodder and hay. Moreover, a considerable rise in the consumption of biofuels is resulting in a higher product uptake on the global level. Apart from this, extensive research and development (R&D) activities conducted by key players are further providing an impetus to the market growth. Some of the other factors creating a positive outlook for the market include favorable government initiatives promoting clean energy adoption, the increasing levels of meat consumption, and the development of innovative animal nutrition products. On account of the aforementioned factors, the market is expected to reach a value of US$ 2,404 million by 2027, exhibiting a CAGR of 4.23% during 2022-2027.
- Based on the type, the market has been segmented into inoculants, organic acids and salts, enzymes, adsorbents, preservatives, and others.
- On the basis of the form, the market has been classified into dry and liquid.
- Based on the function, the market has been categorized into stimulation, inhibition, and others.
- Based on the silage crop, the market has been divided into corn, alfalfa, sorghum, oats, barley, rye, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include ADDCON GmbH (Esseco Group Srl), American Farm Products Inc., Archer-Daniels-Midland Company, BASF SE, BIOMIN GmbH (Koninklijke DSM N.V.), Chr. Hansen Holding A/S, Corteva Inc., Eastman Chemical Company, Josera GmbH & Co. KG, Lallemand Inc., Nutreco N.V., Schaumann BioEnergy Consult GmbH, and Volac International Limited.
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