Silage Additives Market Competitive landscape analysis 2018-2023

Posted January 8, 2019 by sandycool

Silage Additives Market was worth $517.67 million in 2018 and estimated to be growing at a CAGR of 3.85%, to reach $625.3 million by 2023.

Silage Additives Market Overview

Silage additives have been utilized to improve the ensiling procedure with successive enhancements in animal performance. Its benefits have created an opportunity for Silage Additives Market. Silage additives are necessary for animal nutrition as they are means to enhance silage quality and control the preservation process so that by the time of feeding it has retained several of the nutrients present in the original fresh forage as possible. Silage additives are necessary for animal nutrition as they are worth to improve silage quality and regulate the conservation process so that by the time of nurturing it has maintained as many of the nutrients existing in the original fresh forage as possible. This, in turn, improves animal performance and fitness; consequently, refining the yield and value of food from animal origin. Silage additive thus helps make superior forage into good quality silage.

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The demand for meat has accelerated because of the continuous rise in population, lifestyle variations, and cultural inclinations. Industrialization of animals and meat production is the leading factor of the market. The rise in demand for animal protein all throughout the globe has applied pressure on livestock farmers for better quality and quantity. This condition has created an opportunity for silage additive producers. Though, less efficiency of silage additives in comparison with other additives is likely to obstruct the growth of the market.

Silage Additives Market Report (2018-2023)

Silage Additives Market was worth $517.67 million in 2018 and estimated to be growing at a CAGR of 3.85%, to reach $625.3 million by 2023.

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Silage Additives Market Segmentation

The global market for Silage additives is segmented by type Inoculants, Acids and Organic acid salts, Enzymes, Adsorbents, and Chemical Inhibitors. Based on the application the market is classified into cereal crops, legumes, and some application types. Cereal crops segment is additionally divided amongst Corn, Barley, Oats, Wheat, and Sorghum. Legumes are divided into Peas, Fava beans, Alfalfa and Clover. Ornamental Grass and Canola are another application types of silage additives. Inoculants have the larger market share among the Silage Additives material type and are divined to expand with the growing demand for silage additives in the livestock industry.

Geographically the market is divided into North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa. Asia-Pacific is the quickest growing market in silage additives during the forecast period. The Guidelines from Government in this region to reduce imports of meat & increase home production and funding to livestock farmers is predicted to give a rise to the livestock industry.

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Major Players

Some of the major companies operating in the current Market are

BASF SE (Germany),
ADDCON (Germany),
Novozymes A/S (Denmark),
DSM N.V. (The Netherlands),
Cargill Inc. (U.S.),
Evonik Industries AG (Germany),
Selko Feed Additives (The Netherlands),
Volac International Limited (U.K.),
Schaumann BioEnergy GmbH (Germany)
CHR. Hansen Holdings A/S (Denmark).
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Last Updated January 8, 2019