Silage Inoculant Market by Type (Lactobacillus plantarum, Pediococcus pentosaceus, Enterococcus faecium, Lactobacillus buchneri, Lactobacillus brevis, Propionibacteria freundenreichii, and others), by Application (Cereal crops, Pulse Crops, and others) and by Region - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
The Global Silage Inoculant Market was worth $249.84 million in 2016 and estimated to be growing at a CAGR of 4.10%, to reach $305.43 million by 2021.
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Silage Inoculants are the microbial inoculants. They improve silage quality and control the preservation process of forage ensuring maximum nutrients retention at the time of feeding.
Silage improves the animal performance and health; subsequently improving the yield and quality of food from animal origin.
Silage Inoculants are used in treating crops with sufficient 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 slowly gaining attention of consumers as it is a cost effective solution. The Silage Inoculant market is developing at a significant rate due to the increase in the livestock population.
The growth of the Global Silage Inoculant market is majorly driven by factors such as the growth in global meat consumption, increase in mass production of meat, and improvement in quality of silage. Globally increasing population is also supporting growth of the world meat market, ultimately increasing demand for the Silage Inoculants.
Factors such as lack of awareness about the silage inoculants among livestock farmers and improper fermentation of forage due to less efficiency of the silage inoculants in fermentation process of silage crops are restraining the growth of the market. Increasing demand for compound feed & feed additives is another major factor restricting the growth of this market.
The Global Silage Inoculant market is segmented based on type and application. On the basis of type, the global Silage Inoculant 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 has the major share of 24% as they exhibit more efficiency in fermentation.
However, Lactobacillus bucherni is expected to grow at the fastest CAGR because of higher efficiency. In the application segment, Cereal is the most widely applied crop with silage inoculants.
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America accounted for the largest share in the global Silage Inoculant market, accounting for around 26% of the global market.
The Asia-Pacific region is expected to offer lucrative growth opportunities, owing to the considerable increase in meat production, growing industrialization in livestock industry, and unpredictable weather leading to more damaged crops.
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.
Silage Inoculant Market Segmentation:
The scope of the report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- 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
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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