The North America silage additive market size is anticipated to expand at a robust CAGR during forecast period, 2021-2028. The growth of the market is attributed to development of innovative products and increasing focus on R&D activities. Moreover, increasing livestock production is driving the market growth.
Silage additives are essential for animal nutrition. It enhances animal performance and fitness consequently, refining the yield and quality of food from animal origin. Silage additives helping in converting forage into high quality silage.
The demand for meat has accelerated due to continuous increase in population, lifestyle variations, and cultural inclinations. Silage additives are used as stimulants of fermentation, as it increases nutrient recovery of feed and decrease the risk of heating and molding during storage of feed.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing demand for animal protein is one of the major drivers that is contributing to the growth of the North America silage additive market.
- Rising focus of government agencies on feed cost reduction is expected to augment the market growth.
- Less efficiency of silage additives in comparison with other additives can restrain the growth of the market.
- Cost ineffectiveness with respect to silage additives can hinder the market growth.
- The outbreak of COVID-19 has disrupted the supply chain activities across the globe. Moreover, declining number of cases is expected to help the market recover soon.
- Growing demand for preservation of pasture is anticipated to create lucrative opportunities during the forecast period.
Scope of the Report
The report on the North America silage additive market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Silage Additive Market - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Inoculants, Organic Acids & Salts, Enzymes, Adsorbents, Preservatives, and Others), Silage Types (Cereals, Legumes, and Others)
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Geographical scope
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US, Canada, Mexico and Rest of North America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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American Farm Products, Archer Daniels Midland Company, Lallemand Animal Nutrition, Kemin Industries, and Pioneer Hi-Bred International (Corteva Ag.)
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North America Silage Additive Market Segment Insights:
Inoculants segment to grow at a rapid pace
Based on types, the market is divided into inoculants, organic acids & salts, enzymes, adsorbents, preservatives, and others. The inoculants segment is anticipated to account for a key market share and is anticipated to grow at a steady rate during the forecast period. Rising demand for homofermentative inoculants among silage farmers and the advent of combination products are anticipated to spur the growth of the market segment.
Cereals segment to account a major market share
On the basis of silage types, the market is divided into cereals, legumes, and others. The cereals segment is anticipated to account for a major market share owing to increasing farmers prefer for high quality of cereals, especially corn silage over other crops. Moreover, abundant production of corn silage in countries in North American, enhanced productivity, and increasing applications of corn silage in the biofuel industry are proliferating the market segment growth.
The US to account a considerable market share
On the basis of geographies, the market is segregated into the US, Canada, Mexico, and Rest of North America. The market in US is anticipated to grow at a healthy rate during the forecast period. Growing awareness and increasing production of corn silage in the country are driving the growth of the market in the US. The significant growth of exportable commodities from the dairy sector, in order to meet the export quality standards, strengthened the market potential for local silage additive manufacturers, which led to the development of various products based on organic acids, NPN nutrients, and sugars.
Segments
The North America silage additive have been segmented on the basis of
Types
- Inoculants
- Organic Acids & Salts
- Enzymes
- Adsorbents
- Preservatives
- Others
Silage Types
Geographies
- US
- Canada
- Mexico
- Rest of North America
Key Players
- American Farm Products
- Archer Daniels Midland Company
- Lallemand Animal Nutrition
- Kemin Industries
- Pioneer Hi-Bred International (Corteva Ag.)
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