Global Silage Additives Market Expected to Cross $600 Million by 2020

Date: 2016-09-17

Silage additives are important in animal nutrition as they are means to improve silage quality and control the preservation process so that by the time of feeding it has retained as many of the nutrients present in the original fresh forage as possible. That in turn improves the animal performance and health; subsequently improving the yield and quality of food from animal origin. Silage additive thus help make top quality forage into excellent quality silage. Fermentation of silage is a very uncontrollable process and leads to nutritional losses. This situation has generated an opportunity for Silage Additives Market. Silage additives have been used to improve the ensiling process with subsequent improvements in animal performance. The global silage additives market was worth around $500 million in 2014 and is expected to cross $600 million by 2020 growing at the CAGR of 3.8% during the forecast period 2015-2020.

The demand for meat has stimulated due to the incessant rise in population, lifestyle changes, and cultural trends. Industrialization of livestock and meat industry is driving factor of the market. The increasing meat demand has led to increased utilization of compound feed and silage feed additives.Rise in demand for animal protein in the region has exerted pressure on livestock farmers. This situation has generated an opportunity for silage additive manufacturers. This growth has created tremendous opportunity and demand for innovative products in animal nutrition. Focus to enhance feed utilization and to improve the health in the animals is another factor for growth in Silage Additives 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. Organic acids play a major role in ensiling process of silage. 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. The emphasis on lesser use of harmful chemicals in animal nutrition and increased awareness among meat consumers in Europe is driving the Silage additives Market.

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Joanna | Executive – International Business and partner Relations
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