Liquid Silage Additive Market Forecast and CAGR
According to latest research by Fact.MR., liquid silage additive market size is set to witness steady growth at an annual average of 4% during 2021-2031. Demand for this commodity will witness a steady rise in the short term, while growth outlook for the long-term also remains significantly optimistic. The market will be driven by growing demand for high quality feed from the animal food and feed sector.
What is Driving Demand for Silage Additive?
People’s preference for quality meat has led to a significant rise in the demand for liquid silage additives that is fed to farmed animals. Development in silage quality as well as favorable government regulations are some of the key factors propelling the market growth.
These additives are essentials in animal nutrition being a means to develop silage quality and conservation processes. To retain as many nutrients present in the original fresh forage as possible, silage additives are a must. This nutrient rich silage in turn improves the animal life and health; consequently improving yield and quality of food from animals. Thus, silage additives helps to make silage which in turn enables the production of good quality forage for use as animal feed.
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Liquid Silage Additives Likely to Dominate Silage Additive Sales
The liquid form of silage additives is expected to dominate the silage additive industry. This demand shall be owing to the amplified preference for liquid additives as they are easy to handle, store and transport. Liquid concentrates are preferred for application in the industry due to the growing realization of the benefits of such additives in developing countries, hence giving liquid silage additives an edge.
Despite of less awareness among the consumers, the increase in feed additives industry will ensure that this product shall be a major chunk of the additives industry.
North America Liquid Silage Additive Market Outlook
North America is leading the global market of liquid silage additives with bacterial inoculants constituting more than a half of these additives. It shall remain the major contributor to this industry in the near future. The market for this region is expected to grow at a rapid rate through 2031. This growth credits to the increased focus on R&D by companies along with an increase in awareness regarding the usability of silage as a substitute for fresh fodder or hay.
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Asia-Pacific Demand Outlook for Liquid Silage Additive
The trend of using chemical based feed additives is fast catching up in the Asia-Pacific region, which has pre-dominantly relied on locally available natural products which are not optimal in quality. With an increase in awareness regarding the usability of silage as a substitute for fresh fodder and/or hay, the practice of production of silage, as a whole is expected to receive a huge fillip in emerging markets such as Asia-Pacific. Also, increased industrialization of livestock production, driven by increased demand for high animal protein content by end consumers is driving farmers to adopt optimum nutrition for cattle, leading to an increased usage of silage additives.
Europe Demand Outlook for Liquid Silage Additive
The Europe region is expected to register a fast production and consumption rate over the forecast period. The European meat market has maintained a steady growth and the high consumption of meat and increasing demand for the same will require an increase in the production and consumption of liquid silage additives as well.
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Who are the Key Manufacturers and Suppliers of Liquid Silage Additive?
Some of the leading manufacturers and suppliers of liquid silage additives include
- BASF SE
- Chr. Hansen Holding A/S
- Lallemand Inc.
- DuPont de Nemours Inc.
- Shandong Baolai-leelai Bio-industrial Group
- Schaumann Bioenergy GmbH
These manufacturers are increasingly investing in research and development. Also companies are expanding their manufacturing capacities to meet growing demand from customers. For example, BASF has been actively increasing the production capacity of theirphytase-based enzymes to respond to the increasing market demand across livestock categories such as pigs and poultry.
Liquid Silage Additive Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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By Silage Crop
- Other crops
- Other functions(nutritive value addition, moisture absorption, etc.)
By Product Type
- Organic Acids
- NPN nutrients
- Other additives
- Aquatic Animals
- North America
- Latin America
- Rest of Latin America
- Rest of Europe
- East Asia
- South Korea
- South Asia Pacific
- ASEAN Countries
- Rest of South Asia Pacific
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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