Silage Additives Market, Production, Functions, Trends, Regional Analysis, Segmentation and Key Players

Market Overview

Silage preservation is used to reduce oxygen and increase acidity rapidly which helps to stabilize and preserve the forage which is further used to feed the livestock and improves the quality of nutrients in the feed. Silage additive market is examining growth based on high usage of silage as a biofuel feedstock for anaerobic digesters. Moreover, in North America, increasing awareness of animal protein and inclination of consumers towards meat consumption are driving the growth of the market. Owing to the increased consumer awareness and availability of latest technology equipment, North America is examined to be dominating the silage additive market.

Market Forecast

Silage additive is one of the sources in improving livestock feeding and increase the nutritional level in animals. Therefore, increasing focus of consumers in improvising animal health is boosting the market. Moreover, increased consumption of biofuel is driving the silage additive market. Additionally, government regulation in Europe, North America and few regions of Asia Pacific is witnessed to be the major supporting factor in clean energy application which in turn is boosting the market of silage additives. However, this opportunity is increasing the number of new entrants in the industry which may hamper its growth during the forecast period 2017-2023.

All these factors will contribute to the estimated CAGR of 3.2% of silage additives during the forecast period 2017-2023.

Regional Analysis

Global Silage Additives Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is projected to dominate the market followed by Europe. The rising awareness of animal protein among the consumers and availability of latest technologies for innovations in animal nutrient products are driving the market growth of North America. Furthermore, Asia Pacific is expected to witness growth during the forecast period 2017-2023 owing to rising industrialization of meat. China, India and Japan are the major markets contributing to the growth of Asia Pacific market.

Market Segmentation

Silage additives is segmented on the basis of additives, crop type, application and region.

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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