Silage Additives Market Global Industry Size, Share, Growth, Trends, Demand andPosted by Prashanth on January 2nd, 2020 Market Overview: Silage also called as ensilage forage, indicates grass or other green fodder stored and preserved in airtight conditions in the silos, a cylindrical container. Silage additives include stimulants and inhibitors that are employed to safeguard the silage. This is carried out by reducing oxygen and escalating acidity for the expansion of lactic acid bacteria that preserve the forage. Stimulants promote the development of lactic acid bacteria by acid production and inhibitors slow down unwanted silage degradation. The global silage additives market was valued at around USD 517.67 million in 2019 and is anticipated to extend at a CAGR of 3.85% to reach USD 625.3 million by 2024. Market drivers and restraints: Silage Additives are significant for animal nutrition as they are a path to enhance silage quality and guide the process for preservation so that it can be employed further for feeding livestock, which is supporting the market expansion. Escalated focus on improving feed usage and improvising animal health are driving the growth of the silage additives market. In addition to that, increasing consumption of biofuels is driving the expansion of this market, particularly in developed countries. Report segmented as: By origin:
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Geographical analysis: The global silage additives market based on geography is segregated into North America, Europe, Asia Pacific, and Rest of the world (RoW). North America holds the highest share of silage additive market followed by Europe. Nevertheless, the Asia Pacific is estimated to be the quickest developing market throughout the forecast period. Industrialization of meat and escalating consumption of meat by population is driving this market. Important market players: Some of the market participants operating in the manufacture of silage additives include Schaumann BioEnergy GmbH, DSM N.V., Selko Feed Additives, Volac International Limited, ADDCON GmbH, Evonik Industries AG, Cargill Inc., Novozymes A/S, BASF SE, Chr. Hansen Holding A/S ADM Animal Nutrition (division of Archer Daniels Midland Company), ForFarmers, and LALLEMAND Inc. among others. The Scope of the report: This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors. Apart from the syndicated report, our in-house team has expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions. About Us: Market Data Forecast is a firm working in the areas of market research, business intelligence and consulting. We have rich experience in research and consulting for various business domains to cater to the needs of both individual and corporate clients. For more information: Abhishek Shukla Sales Manager at Market Data Forecast Email: abhishek@marketdataforecast.com Tel: +1-888-702-9626 Website: https://www.marketdataforecast.com/ Like it? Share it! More by this author |