A recent report published by Infinium Global Research on silage additives market provides in-depth analysis of segments and sub-segments in global as well as regional silage additives market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional silage additives market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global silage additives market. According to the report, the global silage additives market is projected to grow at a CAGR of 3.10% over the forecast period of 2018-2024.
Silage is preserved pasture made by packing immature plants in an airtight storage container and allowing fermentation to develop acetic and lactic acids, which preserve the moist feed. It is fed to cows and sheep during dry seasons when the pasture available is not of good quality. Additives are added to the silage to control the preservation process so that by the time of feeding it has retained as many of the nutrients present in the original fresh forage as possible. The use of silage additives leads to an increase in energy content, digestibility and dry matter intakes that results in an increase in animal performance. Addition of silage additives makes top quality forage into excellent quality silage.
The rapid rise in population has led to an increase in demand for food resulting in the growth of the meat and dairy industry. The increase in demand for animal nutrition for the livestock is the key driving force for the growth of silage additive market. However, lack of sufficient knowledge about such advanced agricultural products acts as a major challenge in the growth of silage additive market. Moreover, the increased shelf-life and the rise in demand for feedstock creates an opportunity for the growth of silage additives market.
By geography, North America regions hold the largest market share in silage additive market owing to the rise in demand for meat and dairy products. Europe is one of the fastest growing agricultural inoculant owing to the growth of the livestock industry. In addition, Asia-Pacific is also expected to gain rapid development in owing to the rising demand for food products over the forecast period.
The report on global silage additives market covers segments such as classification, type, and crops. On the basis of classification the global silage additives market is categorized into stimulants of fermentation, inhibitors of fermentation and nutrient additives. On the basis of type, the global silage additives market is categorized into homofermentative, heterofermentative, combination products, acids, and acid salts and molasses and sugars. On the basis of crops, the global silage additives market is categorized into corn, barley, and sorghum.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region.
The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global silage additives market such as Chr. Hansen A/S, Forfarmers, Lallemand, BASF, Trouwn nutrition, Schaumann Bioenergy, Josera, ADDCON Group GmbH, Pioneer and Volac.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global silage additives market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of silage additives market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the silage additives market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the silage additives market to understand the present and future trends in this market and formulate their strategies accordingly.
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