Silage Inoculant Market

Silage Inoculant Market Size (2022 - 2027)

Silage Inoculant Market was worth USD 310.75 million in 2021 and is estimated to be growing at a CAGR of 4.10%, to reach USD 501.24 million by 2027.

Silage Inoculants are microbial inoculants. They improve silage quality and control the preservation process of forage ensuring maximum nutrients retention at the time of feeding. Silage improves the animal performance and health; subsequently improving the yield and quality of food from animal origin.

Silage Inoculants are used in treating crops with sufficient water-soluble carbohydrates and moisture content. Fermentation of silage is a very uncontrollable process that leads to nutritional losses in the silage. Silage inoculants products are slowly gaining the attention of consumers as it is a cost-effective solution. The Silage Inoculant market is developing at a significant rate due to the increase in the livestock population.

Drivers and Restraints of Silage Inoculant Market:

The growth of the Global Silage Inoculant market is majorly driven by factors such as the growth in global meat consumption, increase in mass production of meat, and improvement in quality of silage. Globally increasing population is also supporting the growth of the world meat market, ultimately increasing demand for the Silage Inoculants. Factors such as lack of awareness about the silage inoculants among livestock farmers and improper fermentation of forage due to less efficiency of the silage inoculants in the fermentation process of silage crops are restraining the growth of the market. Increasing demand for compound feed & feed additives is another major factor restricting the growth of this market.

REPORT COVERAGE:

Market Segmentation:

Silage Inoculant Market - By Type:

• Lactobacillus Plantarum
• Pediococcus Pentosaceus
• Enterococcus Faecium
• Lactobacillus Buchneri
• Lactobacillus Brevis
• Propion Nibacteria Freundenreichii
• Others

Lactobacillus Plantarum has a major share of 24% as they exhibit more efficiency in fermentation. However, Lactobacillus bucherni is expected to grow at the fastest CAGR because of higher efficiency.

Silage Inoculant Market - By Application:

• Cereal Crops
• Pulse Crops
• Others

In the application segment, Cereal is the most widely applied crop with silage inoculants.

Silage Inoculant Market - By Geography:

• North America
• Europe
• Asia-Pacific
• Rest of the World

North America accounted for the largest share in the global Silage Inoculant market, accounting for around 26% of the global market. The Asia-Pacific region is expected to offer lucrative growth opportunities, owing to the considerable increase in meat production, growing industrialization in the livestock industry, and unpredictable weather leading to more damaged crops.

Key Players:

1. Cargill
2. ADM
3. Dupont
4. Volac
5. Nutreco
6. Lallemand
7. ForFarmers
8. CHr.Hansen
9. Others

Existing companies such as ADM and Nutreco have been actively involved in the acquisition of regional players to strengthen their market presence. Key strategies such as investments in R&D are being employed by major companies to meet the growing Silage Inoculant demand.