Latin America Silage Additives Market

Latin America Silage Additives Market Size (2022 - 2027):

Latin America Silage Additives Market was worth $85.47 million in 2021 and estimated to be growing at a CAGR of 4.05%, to reach $91.39 million by 2026.

Latin America is an evolving market for silage additives. The demand for eminence meat products is reasonably growing in the region due to increased awareness among the customers with western impact. Silage additives have added significance in the region owing to their lesser costs and new advanced products appropriate for precise situations. Preservation of forage crops as hay or silage has been a feature of livestock feed management across the region for centuries.

With the emerging economy and increased demand for quality meat products, a need for healthy livestock was witnessed in the region. Health-aware American populations generated a demand for higher-class meat from the handling industries due to increased safety anxieties. Substantial growth in the industrial production of livestock was seen in the region in order to meet the augmented demand for meet.

Market Segmentation:

Latin America Silage Additives Market – By Type Inoculants:

• Acids and Organic acid salts

• Enzymes
• Adsorbents
• Chemical Inhibitors

Latin America Silage Additives Market – By Application:

• Cereal crops
  • Corn
  • Barley
  • Oats
  • Wheat
  • Sorghum
• Legumes
  • Peas
  • Fababbeans
  • Alfalfa
  • Clover
• Other application types

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.

Geographical Analysis:

Geographically the market is segmented into

• Mexico
• Brazil
• Argentina

Mexico is dominating the region market for silage additives market and projected to continue its dominance over the forecast period.

Key Players:

Some of the major market players offering silage additives are BASF SE, ADDCON, Novozymes A/S, DSM N.V., Cargill Inc., Evonik Industries AG, Selko Feed Additives, Volac International Limited, Schaumann BioEnergy GmbH, and CHR. Hansen Holdings A/S.