Global Silage Additive Market is valued at USD 3.14 Billion in 2021 and expected to reach USD 4.34 Billion by 2028 with a CAGR of 4.73% over the forecast period.
Silage is green grass or other green fodder stored in airtight cylindrical containers without drying and used as fodder in the winter season. This is also known as forage and can be conserved through a natural process where the formation of lactic acid takes place with help of sugar fermentation by lactic acid bacteria inside the cylindrical container in the absence of air. Silage additives are those materials used for the preservation of silage. It includes stimulants and inhibitors for the increased production of lactic acid and inhibitors to slow down the degradation process. So, during the study of the Global Silage Additive market, we have considered the Silage Additive type to analyze the market.
Global Silage Additive Market report is segmented based on product type, origin, raw materials, and regional & country level. Based on Product type, the global silage additive market is classified as stimulants and inhibitors. Based on origin, the global silage additive market is classified as Synthetic and Biological. Based on raw materials, the global silage additive market is classified as grass bales, whole cereal plants, leguminous plants, and others.
The regions covered in this Silage Additive Market report are North America, Europe, Asia-Pacific, and the Rest of the World. Based on a country level, the regional market is subdivided into the U.S., Mexico, Canada, the U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
The commercialization and growth of the global Silage Additive market over the past 25 years have been highly impactful. As there is a constant increase in the animal feed demand, longer preservation, and development of an improved formula for silage. Silage additives enable silage stability to maintain the nutrients contents for a long time and are economical as well. This can be used in all types of climates whether it is cloudy or cold it will not make any difference. There is the increased use of land and crops with increased demand for food are expected to fuel the silage additives market over the forecast period. Whereas the high demand and consumption of meat are one of the major increases in the livestock industry this will support the growth of the silage additive market. As per National Chicken Council report the consumption of meat is estimated to be 220.4 pounds in 2018 which was 216.8 pounds in 2017 in the U.S. focus on the improvement of animal health and increased feed utilization will expect to fuel the silage additive market shortly.
North America dominates the market with the highest market share closely followed by Europe due to the increase in the biological inoculants and increased awareness about the production of corn silage. The Asia Pacific is expected to be the fastest-growing region over the forecast period due to the developing economies based on the agriculture industry such as India. As per the Indian Agricultural Statistics Research Institute over 70% of rural households depend upon agriculture and agriculture along with fishery and forestry accounts for around 17% of India’s Gross Domestic Product (GDP) and it is the single largest contributor. Latin America, the Middle East, and Africa are also expected to experience moderate growth over the forecast period.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 3.14 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 4.34 Billion|
|Tables, Charts & Figures:||175|
|Companies/Key Players||DSM N.V., Selko Feed Additives, BASF SE, Schaumann BioEnergy GmbH, ADDCON GmbH, Evonik Industries AG, Cargill Inc., LALLEMAND Inc., Volac International Limited, Novozymes A/S, Chr. Hansen Holding A/S ADM Animal Nutrition, ForFarmers|
|Segments Covered||By Product Type, By Origin Type, By Raw Materials Type|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|