North America Silage Inoculant Market was worth $59.85 million in 2016 and estimated to be growing at a CAGR of 3.90%, to reach $72.46 million by 2021.
Silage Inoculants expand silage quality and regulate the preservation process of forage guaranteeing maximum nutrients retention at the time of feeding.
Silage Inoculants are used in treating crops with enough water soluble carbohydrates and moisture content. Fermentation of silage is a very uncontrollable process which leads to nutritional losses in the silage.
Silage inoculants products are gradually gaining attention of customers as it is a cost effective solution.
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The growth of the North America Silage Inoculant market is mainly due to the rise in meat consumption, increase in population and enhancement in quality of silage. Issues such as lack of awareness and improper fermentation of forage due to less efficacy of the silage inoculants are preventing the growth of the market.
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The North America Silage Inoculant market is segmented based on type and application. On the basis of type, the market is segmented into Lactobacillus plantarum, Pediococcus pentosaceus, Enterococcus faecium, Lactobacillus buchneri, Lactobacillus brevis, Propionibacteria freundenreichii, and others.
On the basis of application, the market is segmented into Cereal crops, Pulse Crops, and others. Among Inoculants, Lactobacillus plantarum leads the market.
In the application segment, Cereal is the most commonly applied crop with silage inoculants.
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The North America market has been geographically segmented into segmented into US and Canada. USA leads the market in this region and is the major market for Silage Inoculants with a share of almost 30%.
The North America market is very modern and is focused on innovating cost-effective techniques. Companies are committed to research, sourcing, and quality, factors that are central to the success of the industry.
Some of the major companies dominating this market are Cargill, ADM, Dupont, Volac, Nutreco, Lallemand, ForFarmers, CHr.Hansen and others. Existing companies such as ADM and Nutreco have been actively involved in 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.
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- Segment-level analysisin terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
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- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
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