“The silage additives market is projected to grow at a CAGR of 4.40% during the forecast period.”
The silage additives market is estimated at USD 1.62 billion in 2017, growing at a CAGR of 4.40% from 2017, to reach USD 2.00 billion by 2022. This market has been gaining prominence among dairy farmers to improve the silage quality and enhance the productivity of livestock. Factors such as the mechanization of the livestock industry and increase in the production of silage from different crops across the world are projected to drive the silage additives market. However, factors such as fluctuating milk prices, the low adoption rate of additives in developing markets, and forage prices affect the growth of the silage additives market.
“Corn segment dominated the silage additives market in 2016.”
On the basis of silage crop, the corn segment dominated the silage additives market in agricultural applications in 2016. The large cultivated areas under corn for silage production in regions of North America, South America, and Europe are projected to drive the application of silage additives in the corn for improving silage quality.
“Stimulation segment, by function, led the market in 2016.”
On the basis of function, the stimulation segment dominated the market in 2016, in terms of value, due to the increasing demand for biologicals among the end consumers, enhanced productivity, and health and safety issues associated with chemical acid additives, which are also projected to drive the silage additives market as a stimulating ingredient.
“Asia Pacific is projected to grow at the highest rate during the forecast period.”
Asia Pacific is projected to be the fastest-growing region in the silage additives market between 2017 and 2022. The Asia Pacific region has been experiencing significant demand for silage as cattle feed due to the need to undertake efforts to ensure the export quality of milk products to North American and European countries, which had a sizeable impact on the region’s economy, subsequently driving the growth of the silage additives market.
The silage additives market is segmented region-wise, with a detailed analysis of each region by studying the key markets. These regions include North America, Europe, Asia Pacific, South America, and the Rest of the World (RoW).
Breakdown of the profile of primary participants is as follows:
- By Company Type: Tier I – 50 %, Tier II – 30%, and Tier III – 20%
- By Designation: C level – 20%, D level – 35%, and Others – 45%
- By Region: Europe – 25%, North America – 37%, Asia Pacific – 28%, and South America – 10%
The market is dominated by key players such as Volac (UK), Trouw Nutrition (the Netherlands), Schaumann BioEnergy (Germany), ADDCON (Germany), Chr. Hansen (Denmark), BASF (Germany), Lallemand (US), DuPont, Pioneer (US), Micron Bio-Systems (US), Biomin (Germany), American Farm Products (US), and Josera (Germany).
- This study estimates the global silage additives market, in terms of value and volume, till 2022, segmented on the basis of type, silage crop, function, form, and region.
- It offers a detailed qualitative and quantitative analysis of this market with reference to the competitive landscape, and the preferred development strategies such as expansions, acquisitions, mergers. and joint ventures to gain a larger share of the market.
- It provides a comprehensive review of major market drivers, restraints, opportunities, challenges, and the key issues of the market.
- It covers various important aspects of the market. These include analysis of the competitive landscape, market dynamics, market estimates in terms of value and volume, and future trends in the silage additives market.
Reasons To buy this report:
From an insight perspective, this research report has focused on various levels of analysis?supply chain analysis, competitive landscape mapping, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the silage additives market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on silage additives offered by the top players in the market.
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and growth strategies in the silage additives market.
- Market Development: Comprehensive information about lucrative emerging markets?the report analyzes the agricultural markets for silage additives across various regions.
- Market Diversification: Exhaustive information about products, untapped geographies, recent developments, and investments in the silage additives market.
- Competitive Assessment: In-depth assessment of the market share, strategies, products, and manufacturing capabilities of the leading players in the silage additives market.