Worldwide Silage Additives Market Size, Share, Growth, Key Players Updates, Regional Trend and CAGR of 3.2% by Foresight to 2023

‘Worldwide Silage Additives Market Size”
Global Silage Additives Market Information: by Additive (Inoculants, Acid Additive, Absorbents, Nutrients and others), Crop Type (Corn, Alfalfa, Clovers and others), Application (Cereals, Pulses and others) and Region Forecast till 2023

Market Overview:

Silage is a plant material, used as cattle feed, that has undergone fermentation .The primary goal of making silage is to maximize the preservation of original nutrients in the forage crop for feeding the livestock later. Silage is also one of the sources of biofuel. Silage additives are added to the forage to increase the nutritive value and improve the hygiene of the silage. Silage being an animal feed, ensures improved quality in the meat processors and various products derived from livestock.  Also, increasing consumption of meat has stimulated the market of silage additives. Moreover, it has created tremendous opportunities for innovative products in animal nutrition.

Silage preservation is used to reduce oxygen and increase acidity rapidly which helps to stabilize and preserve the forage which is further used to feed the livestock and improves the quality of nutrients in the feed. Silage additive market is examining growth based on high usage of silage as a biofuel feedstock for anaerobic digesters. Moreover, in North America, increasing awareness of animal protein and inclination of consumers towards meat consumption are driving the growth of the market. Owing to the increased consumer awareness and availability of latest technology equipment, North America is examined to be dominating the silage additive market.

Silage additive is one of the sources in improving livestock feeding and increase the nutritional level in animals. Therefore, increasing focus of consumers in improvising animal health is boosting the market. Moreover, increased consumption of biofuel is driving the silage additive market. Additionally, government regulation in Europe, North America and few regions of Asia Pacific is witnessed to be the major supporting factor in clean energy application which in turn is boosting the market of silage additives. However, this opportunity is increasing the number of new entrants in the industry which may hamper its growth during the forecast period 2017-2023.

All these factors will contribute to the estimated CAGR of 3.2% of silage additives during the forecast period 2017-2023.

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Competitive Analysis:

The major key players in the silage additives

  • Archer Daniels Midland Company. (U.S.)
  • ADDCON GROUP GmbH. (Germany)
  • BASF SE (Germany)
  • Cargill Inc (U.S.)
  • Brett Brothers Ltd. (Ireland)
  • Evonik Industries AG (Germany) and
  • LALLEMAND Inc. (Canada)

High focus on R&D is increasing the innovations in animal nutrients products. This is backed up by the changing lifestyle and inclination towards meat consumption among the consumers. Moreover, government regulations supporting clean energy have opened doors for the new entrants in this industry.

Downstream Analysis:

On the basis of additives, silage additive market is segmented by inoculants, acid additive, absorbents, nutrients and others. Among these, inoculants dominates the market as it comprise of anaerobic lactic acid bacteria which is used to increase the fermentation rate in silage. High cost of forage and the rise in the cost of feed inputs have raised the market for silage inoculants.

Based on the crop type which includes corn silage, alfalfa silage, clovers silage and others; corn silage is dominating the market. North America is projected to have high consumption of corn silage.

Additionally, on the basis of application; cereal and pulses are witnessing dominance over others. They together cover more than half the market of silage additive.

Segments:

Silage additives is segmented by additives including inoculants, acid additive, absorbents, nutrients and others. Among all, inoculants are widely used additive based on its ability to improve fermentation phase and increase the nutritional value of the forage.

On the basis of crop type, silage additive is segmented as corn silage, alfalfa silage, clovers silage and others. However, corn silage dominates the market followed by alfalfa silage.

Based on the application, silage additives are segmented into cereals, pulses and others. Among these, cereal is expected to dominate the market followed by pulses. They together are expected to account for half of the silage additive consumption.

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Regional Analysis:

The global silage additives market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America market projects the major share of silage additive market followed by Europe. Rise in demand for animal protein in the region has exerted pressure on livestock farmers. This situation has generated an opportunity for Silage additive manufacturers. Increasing focus of governments on feed cost reduction and boosting animal productivity is driving silage additive market in these regions.

However, Asia Pacific market is expected to be the fastest growing market during the forecast period. Industrialization of meat and increasing consumption of meat population is driving the market. Germany, U.S., U.K., Belgium and France are the major importers of silage additives.

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