U.S. Based Cargill Inc Focusing More On Corn As Silage Additives, Market Showing Its Promising Growth | Germany & Canadian Company In Race

Silage additives Market / Detail Analysis

Market Definition
Silage is a plant material, used as cattle feed, that has undergone fermentation .The primary goal of making silage is to maximize the preservation of original nutrients in the forage crop for feeding the livestock later. Silage is also one of the sources of biofuel. Silage additives are added to the forage to increase the nutritive value and improve the hygiene of the silage. Silage being an animal feed, ensures improved quality in the meat processors and various products derived from livestock. Also, increasing consumption of meat has stimulated the market of silage additives. Moreover, it has created tremendous opportunities for innovative products in animal nutrition.
Regional Analysis
The global silage additives market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America market projects the major share of silage additive market followed by Europe. Rise in demand for animal protein in the region has exerted pressure on livestock farmers. This situation has generated an opportunity for Silage additive manufacturers. Increasing focus of governments on feed cost reduction and boosting animal productivity is driving silage additive market in these regions.
However, Asia Pacific market is expected to be the fastest growing market during the forecast period. Industrialization of meat and increasing consumption of meat population is driving the market. Germany, U.S., U.K., Belgium and France are the major importers of silage additives.

Key Players
Some of the key players profiled in the global silage additives market are Archer Daniels Midland Company. (U.S.), ADDCON GROUP GmbH. (Germany), BASF SE (Germany), Cargill Inc (U.S.), Brett Brothers Ltd. (Ireland), Evonik Industries AG (Germany), LALLEMAND Inc. (Canada)

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Market forecast
Silage additives are important for animal nutrition as they are means to improve silage quality and control the preservation process, so that it can be used further for feeding livestock which is supporting the market growth. Increased focus on enhancing feed utilization and improvising animal health are driving the growth of silage additives market. Additionally, rising consumption of biofuels is driving the growth of silage additive market especially in the developed countries. Moreover, increasing demand for meat consumption due to incessant rise in population, changing lifestyle and cultural trends is boosting the market of silage additives. Industrialization of stock and animal protein industry followed by growing requirement of animal protein is a key factor in the growth of silage additives market.
Furthermore, involvement of government in promoting clean energy is a major driving force for the silage additive market. Moreover, focus on R&D is bringing innovative products in animal nutrients. However, rising new entrants in feed additive industry may constraint the growth of market.

Intended Audience
•Biofuel manufacturers
•Livestock industry
•Agricultural feed manufacturers
•Traders, importers, and exporters

Key Findings
•Application of silage additives in cereals and pulses is projected to grow at a higher rate as compared to other application segments.
•In North America, corn is an important silage crop.

Segments
Silage additives is segmented by additives including inoculants, acid additive, absorbents, nutrients and others. Among all, inoculants are widely used additive based on its ability to improve fermentation phase and increase the nutritional value of the forage.

•On the basis of crop type, silage additive is segmented as corn silage, alfalfa silage, clovers silage and others. However, corn silage dominates the market followed by alfalfa silage.
•Based on the application, silage additives are segmented into 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.

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The global silage additives market is segmented under the following regions
North America
•U.S.
•Canada
•Mexico

Europe
•Germany
•France
•Italy
•Spain
•U.K.
•Rest of Europe

Asia Pacific
•China
•India
•Australia
•Japan
•Rest of Asia Pacific

Rest of the world
•Brazil
•Argentina
•South Africa
•Others

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This release was published on openPR.