The size of the Asia-Pacific silage additives market was valued at USD 191.51 million in 2023 and is anticipated to reach USD 199.97 million in 2024 from USD 282.65 million by 2032, growing at a CAGR of 4.42%, during the forecast period from 2024 to 2032.
Asia-Pacific is projected to be the most protruding and fastest-growing market during the forecast period. Intact markets of the Asia-Pacific region are the target of several major players. Both local and global companies are focused on growing the production capacity as well as directing awareness operations to inflate their market.
The industrial development of meat and the increase in the consumption of meat are driving the market. A rapid hike in the cost of forage has led to the pursuit of substitutes like silage additives. Grants for meat trades in countries like India are driving the producers to raise meat production thus fuelling the growth of dependent markets like silage additives.
However, a lack of awareness among farmers is obstructing the growth of the silage additives market.
This research report on the Asia-Pacific silage additives market is segmented and sub-segmented into the following categories.
Japan, India, and China are the major markets in which India is projected to grow at the highest CAGR due to increasing demand for meat.
BASF SE (Germany), ADDCON (Germany), Novozymes A/S (Denmark), DSM N.V. (The Netherlands), Cargill Inc., Evonik Industries AG (Germany), Selko Feed Additives (The Netherlands), Volac International Limited (U.K.), Schaumann BioEnergy GmbH (Germany) and CHR. Hansen Holdings A/S (Denmark) are some of the major key players involved in the APAC silage additives market.
Frequently Asked Questions
As of the latest data, the Asia Pacific Silage Additives Market is valued at USD 191.51 billion in 2023.
China, India, and Japan are the major contributors to the Silage Additives Market in Asia Pacific.
The Silage Additives Market in China is significantly influenced by the expanding livestock industry, with a rising demand for high-quality forage preservation solutions to meet the needs of the growing animal population.
The growth of the Silage Additives Market in India is driven by the increasing awareness of modern forage preservation practices, a growing dairy sector, and a rising focus on improving livestock feed quality.
BASF SE (Germany), ADDCON (Germany), Novozymes A/S (Denmark), DSM N.V. (The Netherlands), Cargill Inc., Evonik Industries AG (Germany), etc.... some of the major key players involved in the Asia Pacific Silage Additives Market.
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