Future Market Insights (FMI)’s report on the global silage additives market projects steady growth in 2021. Consistent demand from food sector is expected as an increasing number of companies seek to improve quality their products. According to the study, the market will continue gaining as food sector recovers post COVID-19. Also the rising demand for animal-based protein sources will emerge as a chief growth driver.
Silage Additives Market
Inherent concerns pertaining to sustaining product quality and improving dietary value are the key complications, challenging the feed processing industry. Silage additives are often considered suitable options due to their high nutritional value and long-shelf life.
With some of the key players now using clean labels as catchwords for advertising, silage additives sales are poised to surge in the coming years. The demand for combination product types will rise at 6.4%, helping them emerge as the most attractive product category.
Key Takeaways from the Silage Additives Market Study
- Steady growth will continue as silage additives market continue exhibiting above 5% CAGR on average through 2021-2031
- Rising demand for fresh forage backs the U.S. market, enabling it account for 87% sales in North America
- Impressive growth expected, as sales in the U.K. rise at above 7% in 2021
- Backed by increasing focus on fitness, sales will continue rising in Germany and France
- Adoption of novel technologies to support year-round silage production in Japan and South Korea
“Some of the emerging countries have been adopting various initiatives to expand silage production areas. The rising demand for dairy and animal products and increasing focus on feed quality will remain chief drivers of the market,” said a lead FMI analyst.
Rising awareness about animal health, along with increasing awareness regarding environmental well-being, is fuelling the demand for silage additives. Consumption of silage additives is expected to rise in developing countries in the coming years. Focus on improving animal immunity is increasing, which driven by the rising demand for non-GMO products among consumers. This has been in turn fuelling silage additives demand.
Furthermore, in order to support in the fermentation process, numerous silage additives have been used to increase the nutrient and energy retrieval in silage often with consequent enhancements in animal performance. This has been aiding overall expansion of the market.
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Who is winning?
Several top manufacturers of silage additives are concentrating on providing silage additives at an optimum price, owing to their increasing demand among consumers. Different companies have implemented integrated production approach to deliver cost-effective products in the market. Their efforts are aimed at expanding their footprints, while adding on to their production capacity.
A few of the leading players operating in the Silage Additives market are: BASF SE, Chr. Hansen Holding A/S, Biomin, Nutreco, Lallemand Inc., DuPont de Nemours, Inc, Shandong Baolai-leelai Bio-industrial Group, Schaumann Bioenergy GmbH, Micron Bio-Systems, Volac International Limited, Kemin India, Addcon Europe GmbH, Josera GmbH & Co KG, NWF Group, American Farm Products, Cargill, Microferm Ltd. and other players.
Get Valuable Insights into Silage Additives Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Silage Additives Market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Silage Additives market based on Type (Homofermentative Inoculants, Heterofermentative Inoculants, Combination Products, Acids and Acid Salts, Molasses or Sugar, Enzymes and Non-Protein Nitrogen Compound), Form (Powder, Liquid), Function (Stimulation Treatment, Inhibition Treatment, Other Functions) and Silage Crop (Corn, Alfalfa, Sorghum, Oats, Barley, Rye, Other Crops) across seven major regions.