Market Overview:
Silage inoculants is a bacterial solvent mainly employed for fermentation rate of silage in the farms. Silage is generally a kind of animal feed made up of grass or other forage that has 30-40% moisture. Silage inoculants contain bacterial population like Lactobacillus Plantarum, Pediococcus species, Lactobacillus buchneri and others. These bacteria present in inoculants flood the natural lactic acid by converting 6-carbon sugar into lactic acid. The worldwide Silage Inoculant Market was worth USD 270.75 million in 2019 and estimated to be growing at a CAGR of 4.10%, to reach USD 331 million by 2024.
Market drivers and restraints:
Atmospheric conditions for a microbial activity like temperature, moisture, and pH support the fermentation of silage and forage crops, while changes in these conditions can affect nutritional value and palatability. Therefore, the supply of lactic acid under these conditions is fulfilled by silage inoculants and is estimated to boost the market during the foreseen period. Effectiveness of silage inoculant depends on the kind of bacteria present in the inoculant and their viability. One of the significant limitations to this market is the lack of awareness in farmers in the selection of varieties for crop fermentation.
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Report segmented as:
By product:
Wet inoculants
dry inoculants
By type:
homo-fermenters
hetero-fermenters
By distribution:
direct
indirect sales
Geographical analysis:
Based on geography, the silage inoculants market is segmented into regions of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA. Among all of these regions, North America accounts for highest revenue share of world market, followed by Europe & Asia Pacific, and is estimated to register a moderate expansion over the forecast period.
Important market players:
Some of the major players operating in the global Silage Inoculants market are ADDCON GROUP GmbH, ProbioFerm, Ltd., Lallemand Inc., Agri-King Inc., Volac International Limited, and Micron Bio-Systems Inc.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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