Silage Additives Market Research Report

Silage Additives Market Research Report - Opportunities & Challenges With Completely Different Segments, Forecast- 2033

نشر بتاريخ 2023-05-25 10:46:48

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The silage additives market size is projected to be valued at US$ 2.4 Billion in 2023 and is expected to rise to US$ 4.0 Billion by 2033. The sales of silage additives are expected to grow at a significant CAGR of 5.5% during the forecast period.

The growing demand for nutritious food is encouraging farmers to use silage additives in feed to boost productivity. As it stabilises and preserves the forage, silage rapidly reduces oxygen and increases acidity in the fodder.

The industrialization of animal farming was prompted by an increase in demand for meat and other dairy products. As a result, farmers began modernising their equipment and adding additional inputs to enable animal growth, thereby increasing overall productivity.

Furthermore, the thriving era of organic farming and agriculture is paving the way for the growth of biological silage additives, which is expected to boost the global silage additives market.

In the coming years, the global silage additives market is expected to be driven by standardisation in livestock farming and a greater emphasis on designing nutrition programmes that provide optimal nutrients to the animals.

Companies’ increased focus on R&D and the development of innovative products are expected to be major factors influencing the adoption of silage additives.

With increased awareness of silage’s utility as a replacement for fresh fodder and hay, the procedure of silage production is expected to take off in emerging markets such as Asia-Pacific.

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Key Takeaways from Market Study

Heterofermentative inoculants would witness highest growth rate of 4.4% due to the introduction of combination products into the market by key manufacturers.
The liquid segment is growing at a rate of 5.4%. The ease of transport, storage, and handling of liquid silage additives is expected to drive up demand.
The combination product type is highly favourable and widely adopted in U.S. market which would lead market towards a revenue size of USD 1.1 Bn by 2033/
Favourable legislative policies in U.K. about food security and feed materials is taking market towards a growth trajectory of 7.6%.
By 2033, it is anticipated that China would provide a significant financial contribution of USD 325.6 million as consumer habits have changed in response to an increase in animal health problems there.
South Korea would be the most lucrative region among others due to the growing import activities in the region. The high preference of corn silage is assisting in market expansion and contributing a revenue of USD 115.9 Mn by 2033.

Manufacturers are striving for innovation and excellence in silage additives market

The silage additive market is highly concentrated, with a few major global players commanding large market shares, particularly in developed markets such as North America and Europe. BASF SE, Archer Daniels Midland Company, ForFarmers NV, Chr. Hansen, and Lallemand Animal Nutrition are among the major players in the silage additives market. These companies have increased R&D spending exponentially in order to integrate innovation and excellence in product performance. During the forecast period, demand for highly efficient additives is expected to make the market more competitive and effectively dynamic.

Latest Developments

Volac acquired Micron Bio-Systems, a UK-based bio-science solutions company, in 2021. At its facilities in the United Kingdom and the United States, Micron Bio-Systems manufactures and sells silage additives.
ADM Animal Nutrition will launch NutriPass L Encapsulated Lysine in July 2020. NutriPass L gives producers a competitive advantage by increasing the return on investment of nutrients fed.

Key Segments Covered in the Silage Additives Market Report

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