Europe Silage Additives Market was worth $158.24 million in 2021 and estimated to be growing at a CAGR of 3.5%, to reach $161.56 million by 2026. Europe market is expected to witness substantial growth in the coming years. The persistence of silage additives is to regulate the protection course so that by the time of nurturing it has reserved as many of the nutrients existing in the original fresh forage as possible. Nevertheless, the precise nutrient position of the silage will rely on various factors that can only be organized via management.
Europe Silage Additives Market Drivers:
The strategy from the European government to reduce imports of meat & increase in house making and financial support to stock farmers is predictable to give a boost to the livestock industry and a further increase in the silage additives market. Increase in the awareness of natural and organic fodders are likely to keep the market flooded. High cost of silage additives is hindering the growth of the market.
Ornamental Grass and Canola are other application types of silage additives. Inoculants have the major market share among the Silage Additives material type and is predicted to grow with the growing demand for silage additives in the livestock industry.
Geographically the market is segmented into
Spain, UK and France are major markets. Germany is anticipated to grow fastest in the forecast period.
Some of the main silage additives market players are 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).
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