Silage Additives Market Share 2021 – Global Trends, Market Demand, Industry Growth Analysis, Opportunities Forecast To 2027

Precision Business Insights published a research report on “Global Silage Additives Market By Product Type (Organic acids, Enzymes, Sugars, Inoculants, Others), By Silage Crop (Alfalfa, Oats, Rye, Barley, Corn, Sorghum, Others), By Formulation (Dry, Liquid), By Application (Inhibition, Stimulation, Moisture Absorption, Others), and Geography- Global/Region/Country Forecast to 2027”.

The global silage additives market was valued at US$ 620 Mn in the year 2020 and is anticipated to record US$ 772.95 Mn till 2027 witnessing a CAGR of 3.2% over the forecast period 2021-2027.

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Growing Demand for Animal feed will impel the Global Silage Additives Market
Silage refers to the grass or green fodder storage in silos, airtight conditions. Silage is preserved using silage additives by reducing the oxygen and enhancing the acidity, which leads to the lactic acid bacteria growth and consequently preserve and stabilize the forage. Inhibitors and stimulants are the most frequently used silage additives. There are several factors, which are projected to foster the silage additives market growth such as growing demand for animal feed because of the emerging livestock industries, huge benefits of silage additives like reducing loss of nutrient from forage and growing demand for healthy meat because of the growing population. But, the high price of silage additives and dearth of consciousness related to silage additives in underdeveloped countries can hamper the silage additives market growth over the forecast period.

Regional Analysis: Global Silage Additives Market
On the basis of regional analysis, global silage additives market is categorized into key regions such as North America, Latin America, Europe, Middle East, Europe, Asia Pacific and Africa. Global silage additives market in North America market is growing because of the innovation of novel silage additives and increasing consciousness about the silage additives in the region. Europe silage additives market is witnessing considerable share due to the increasing number of livestock farms, growing consciousness about natural and organic fodders and presence of several key players in the region. Asia Pacific market is anticipated to experience lucrative growth due to the growing inclination towards animal nutrition, rising agriculture production in countries of this region such as China and India and growing demand for livestock products in the region. Latin America market is fuelled due to the business expansion by key players. Middle East and Africa market is witnessing growth owing to growing agriculture production.
Competitive Analysis

There are several major players operating in the global silage additives market such as BASF SE (Germany), DuPont, Pioneer (DuPont) (U.S.), Lallemand, Inc. (U.S.), Schaumann BioEnergyGmbH (Germany), Hansen A/S (Denmark), Biomin (Austria), Volac International Limited (UK), Micron Bio-Systems (U.S.), American Farm Products (U.S.), Nutreco N.V. (Netherlands) and BioZyme, Inc. (U.S.). Key players in the market hugely focus on adopting a few key strategies to retain their place in the market. BioZyme Inc, developed a natural silage additive called AmaSile in July 2016, which lessens the time needed by silage to appropriate ferment, reduces the nutrient loss and minimizes the spoilage.

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