The corn silage market size is anticipated to surpass USD 348.5 million in 2024 and USD 688.4 million by 2034. The corn silage market size is projected to expand at a healthy CAGR of 7.0% from 2024 to 2034.
Demand for dairy and meat products is rising as the global population grows. To maintain the health and production of their animals, livestock farmers require a consistent and healthy feed source like corn silage. Livestock producers are under pressure to improve their animals’ diets due to customer demand for higher-quality meat and dairy products. This is causing a growing dependence on feed sources such as corn silage, which can improve animal performance and product quality.
The production of corn silage has been transformed by technological advancements in agriculture, resulting in increased yields, better quality, and more efficiency. Farmers now have access to instruments that improve every step of the corn silage production process. These include machine improvements, precision farming techniques, and genetically modified corn hybrids. These developments encourage the wider use of corn silage in animal diets by increasing productivity while lowering production costs. This makes corn silage a more financially feasible feed choice for livestock farmers.
Animal protein consumption is rising in emerging areas, especially in Asia and Latin America, where there is a significant increase in urbanization and financial development. As producers want to capitalize on rising demand, this trend in consumption is driving the growth of the livestock entities in these areas. Because of this, the need for feed ingredients like corn silage increases as animal output grows, driving market growth and offering providers a chance to enter fresh markets.
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Countries are Hoping for a Greener Tomorrow and Investing in Improving Biogas Production
Countries around the world are pushing objectives of raising their biogas production. Corn silage is an important feedstock in producing biogas as it helps in making energy without needing air. It is becoming famous as a renewable energy source that can help power things.
Industries are aspiring to be more eco-friendly and governments are giving them incentives for making advancements in green energy. Countries around the world are establishing new biogas plants. This is raising the demand for corn silage in biogas plants.
Various countries are investing in Waste-to-Energy projects. Japan, for instance, launched a new biogas plant in Sagamihara in August 2023.
“Success in the corn silage market hinges on leveraging sustainability trends and gaining from the expanding livestock industry. Innovation and a focus on quality is integral for long-term growth in this market.” Says a Lead Analyst at Future Market Insights (FMI).
Key Takeaways from the Corn Silage Market Report
- The corn silage market size stood at US$ 304.7 million in 2019.
- The beef cattle segment is slated to hold 62.80% of the market share in 2024.
- The brown mid-rib segment is anticipated to capture 41.70% of the market share in 2024.
- The market size in the United States is projected to rise at 6.10% CAGR through 2034.
- The market size in Germany is anticipated to develop at 5.70% CAGR through 2034.
- The market size in Japan is estimated to surge at 5.20% CAGR through 2034.
- The market size in India is expected to increase at 6.30% CAGR through 2034.
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Increasing Demand for Corn Silage due to Associated Health Beneficial Factors
Because countries like India, the European Union, and the United States are the leading milk producers, there are a lot of cattle to feed. For the cow to produce milk with a high nutritional content, high-content feed and pasture are necessary. For these economies and producers, maintaining the premium quality and nutritious content of milk in the fiercely competitive market is essential.
Producers are becoming more attentive to and cautious with the feed they give their cattle as consumer awareness of the nutritional worth of meals grows. The necessity for the milk to maintain its nutritional value is driving up demand for maize silage.
Once prepared, maize silage has a shelf life of about two years and has a higher nutritional content than other forms of feed. Climate change is causing severe drought conditions in several places, which results in an unequal production of cattle feed globally.
due to the advantages and better option for closing the supply-demand gap and boosting the economy In the 5th edition of the India Maize Summit in 2018, the Ministry of Agriculture and Farmers Welfare of the Government of India announced PPP (Public-Private Partnership) chances for constructing maize-based silage units. Due to the numerous investment prospects created by this action, maize silage is now in high demand on the international market.
Competitive Landscape
The corn silage industry is highly competitive, with leading companies striving for market share and distinctiveness. Large international firms like Cargill, Archer Daniels Midland Company (ADM), and ForFarmers lead the industry. They achieve this owing to their enormous distribution networks, economies of scale, and diverse product portfolios. These industry titans use their strong brand recognition, financial resources, and technological skills to retain a competitive advantage and acquire profitable market sectors.
Recent Developments
- In January 2024, the Indian government announced its plans to build 100 new biogas plants in Uttar Pradesh.
- In January 2024, St1 unveiled a new biogas plant in Boras. The plant manufactures liquified biogas for supply throughout the Nordic Region.
- In June 2022, Corteva Agriscience launched a new product, Bovalta BMR (brown mid-rib) corn silage.
Key Players in the Corn Silage Market
- Cargill
- Archer Daniels Midland Company (ADM)
- ForFarmers
- Lallemand Animal Nutrition
- Mycogen Seeds
- Chr. Hansen Holding A/S
- DuPont Pioneer
- Land O’Lakes, Inc.
- Nutreco N.V.
- KWS SAAT SE & Co. KGaA
Key Takeaways for Investors:
- Lucrative Growth Prospects: The corn silage market presents promising growth opportunities, with a projected CAGR of 7.0% from 2024 to 2034. Investors can capitalize on this growth trajectory by strategically allocating resources to key regions and sectors within the industry.
- Focus on Sustainability: Sustainable agriculture practices and renewable energy initiatives are driving market demand. Investors should prioritize investments in companies and projects that align with sustainability goals, such as biogas production and eco-friendly feed solutions.
- Regional Dynamics: Market growth varies across regions, with notable opportunities in the United States, Germany, Japan, China, and India. Understanding regional trends and regulatory landscapes is essential for successful investment strategies.
- Innovation and Differentiation: Companies that prioritize innovation, such as developing specialty corn silage varieties and exploring alternative applications, are poised for long-term success. Investors should evaluate companies’ research and development efforts and their potential to capture market share through differentiation.
- Partnerships and Collaborations: Collaboration among stakeholders, including farmers, agricultural companies, and government agencies, is crucial for driving market growth and addressing sustainability challenges. Investors should seek opportunities to invest in partnerships that foster innovation and market expansion.
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Corn Silage Market Segmentation
By End Use:
- Milking Cattle
- Beef Cattle
By Type:
- Brown Mid-rib
- Conventional Field Corn
- Leafy
By Nutrients:
- Net Energy for Lactation (NEL)
- Rumen Degradable Protein (RDP)
- Rumen Undegradable Protein (RUP)
- Effective Neutral Detergent Fiber (eNDF)
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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