Silage inoculants are a type of additives which contain anaerobic lactic acid bacteria (LAB) used to increase the fermentation rate in silage. The inoculants help in preserving more nutrients and dry matter, thereby improving animal performance. Some inoculants have also been designed to specifically improve the aerobic stability. The silage inoculants are added at a high rate to compete against the harmful organisms and control the ensiling process.
Key industry players invest extensively in R&D initiatives to expand their product portfolios. Continuous investments in new product development, product modifications, expansions, and acquisitions have expanded the scope of the industry. The addition of inoculants and enzymes in silage add various health benefits to it, which helps in increasing the productivity of the animal feed. The inclusion of inoculants and enzymes help in lowering the pH value, which is helpful in keeping the livestock digestive system healthy, especially with regard to cattle.
North America holds the largest share of the global silage inoculants & enzymes market. In the forthcoming years, the market is projected to grow fastest in North American region making it the fastest revenue-generating pocket.
Silage demand has increased significantly in most parts of the world. The increasing feed grains and compound feed prices is one of the major reasons for the growth of the silage market, which in turn has fueled the silage and inoculants and enzymes demand.
The global market is marked with intense competition due to the presence of a large number of big and small firms. New product developments, partnerships and expansions are the key strategies adopted by market players to ensure growth in the market. The market is dominated by players such as ADDCON GROUP GmbH (Germany), E. I. du Pont de Nemours and Company (U.S.), Archer Daniels Midland Company (U.S.), Kemin Industries (U.S.), and Chr. Hansen A/S (Denmark). In this report, the global silage inoculants & enzymes market is segmented into type, species, enzyme, crop-type, and geography. The global silage inoculants & enzymes market was valued at $ 387.08 million in 2014 and is projected to grow at a CAGR of 4.0% from 2015 to 2020.