Massive Demand for Animal Feeds to Drive Global Silage Additives Market
Silage is grass or green fodder which is compressed or compacted and placed within silos to be used as animal feed. Silage additives are applied to silage crops for supporting the fermentation process and increase the population of bacteria required in creating the right environment for growth. Crops grown using such fodder include pearl millet, oats, sorghum, and maize. The global silage additives market report by Market Research Future (MRFR) comprises an in-depth analysis of the market with the focus on natural feeds and its impact on agriculture. The report predicts trends and opportunities for the period of 2022 to 2030 (forecast period).
Market Scope
The global silage additives market is driven primarily by the increasing consumption of meat. Animal nutrition is the focus of various governments dependent on animals for their source of nutrition. Various guidelines outlined for the safeguard of livestock animals can warrant the use of silage additives. For instance, lactic bacteria is fermented with the integration of corn and grass and given to animals as feeds.
Consumption of biofuels is expected to spur the demand for silage additives greatly. Efforts by governments in producing clean energy and reducing their dependence on fossil fuels is behind this trend. Bioethanol production is on the rise due to the use of animal wastes and silage used for the extraction of ethanol via distillation. Research studies promoting the use of corn and sugarcane as primary sources of biofuels will bode well for the market.
However, new entrants into the global silage additives market may dampen growth prospects.
Segmentation
The global Silage Additives Market Overview is segmented by additive, crop type, and application.
Silage additives are categorized by additive into absorbents, inoculants, nutrients, acid additive, and others. Among all, inoculants are widely used additives due to its ability to improve fermentation and increase the nutritional value of the forage. They can grow in low-moisture environment and grow simultaneously with other microorganisms.
By crop type, the global silage additives market is segmented into clovers silage, corn silage, alfalfa silage, and others. However, corn silage dominates the market followed by alfalfa silage.
Major market applications include 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. Both segments can exhibit a strong growth rate over the forecast period.
Regional Analysis
The global silage additives market covers the regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
North America is deemed to lead the global market due to its use by producers. They most employ silages derived from bromegrass, Kentucky bluegrass, perennial ryegrass, and orchardgrass. Farmers are increasingly relying on cover crops for providing silage, which can be the base for cultivation of crops. Massive demand from the animal protein has created lucrative opportunities for farmers. Focus by governments to lower feed costs and lower animal productivity can bolster favorably for the market.
APAC can showcase a stellar CAGR during the forecast period owing to large consumption of meat by the large populace. The demand for protein-rich foods can drive the demand for silage additives. Products targeted at farmers with high moisture retention rates and low food spoilage can bode well for the agriculture sector. China, India, and Japan can be prime destinations of expansion for the global silage additives market within the region.
According to the MRFR reports, the global Silage Additives Market Size is likely to attain a over USD 3.02 Billion by the end of 2030 while flourishing at a healthy CAGR of over 4.67% during the forecasted era.
Competition Outlook
Cargill Inc, BASF SE, Archer Daniels Midland Company., LALLEMAND Inc., ADDCON GROUP GmbH., Evonik Industries AG, and Brett Brothers Ltd. are major players of the global silage additives market.
