The Silage Additives Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Silage Additives Market is estimated to be $480 USD million and predicted to rise to $ 579.79 USD million with a CAGR of 3.85%. The market is segmented by Type (Inoculants, Acids and Organic acid salts, Enzymes, Adsorbents and Chemical Inhibitors), by Application (Cereal Crops (Corn, Barley, Oats, Wheat and Sorghum), Legumes (Peas, Fababbeans, Alfalfa and Clover) and Others (Ornamental Grass and Canola)). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
Growing meat consumption, food safety apprehensions and refining meat prices in the North America are some of the key drivers for the growth of 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.
Inoculants have the largest market share among the Silage Additives material type and is projected to grow with the increasing demand for silage additives in the livestock industry. By application, Cereal and Pulse crops together accounting for more than 50% of silage additive consumption.
Asia-Pacific is the fastest growing market in silage additives during the forecast period. The Regulations from European Government to reduce imports of meat & increase home production and subsidy to livestock farmers is expected to give boost to livestock industry.
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. (U.S.), 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).
Browse through the full report at â€œhttp://www.marketdataforecast.com/market-reports/global-silage-additives-market-1384/â€ and checkout our recent reports in the Animal Feed category at â€œhttp://www.marketdataforecast.com/research-reports/agriculture/animal-feed-7/â€. For more insights and up-to-date industry news donâ€™t forget subscribing to our newsletters.