Global Silage Inoculants Market has witnessed continued growth over the last few years and is projected to grow by USD 147.27 Million from 2018 to 2025 at a CAGR of 5.5%. Silage inoculants are viable cultures of lactic acid bacteria that stimulate the fermentation of forage to help livestock growers improve the quality of silage feed. The market scope includes bacteria cultures used to ferment forage and not organic acids such as lactic, propionic, and formic acid. The global silage inoculants market is expected to grow at a notable pace during the forecast period.
The Global Silage Inoculants Industry Segment is highly competitive owing to the presence of several players across the globe. Manufacturers are improving existing products and processes by investing in research and technological advancements. For instance, Bonsilage offers three different categories of silage inoculants—Bonsilage Basic, Bonsilage Speed, and Bonsilage Fit. Hence, a focus on research and development is expected to drive the growth of the global silage inoculants market during the forecast period of 2019 to 2025. Additionally, the growth of the livestock industry is also anticipated to fuel the demand for silage inoculants in the coming years. Changing consumer preferences and high inclination toward animal-based proteins are driving the global demand for quality foods such as meat, eggs, and milk. Thus, the rise in demand for meat and dairy products has prompted the growth of the livestock industry. High consumption of animal-based protein is boosting livestock production capacity. According to the Food and Agriculture Organization (FAO), the per capita consumption of meat globally was 43.5 kg in 2017.
The prominent players in the Global Silage Inoculants Market include Addcon GmbH (Germany), Agri-King, Inc. (US), Biomin Holding GmbH (Austria), Josera GmbH & Co. KG (Germany), Micron Bio-Systems (US), CHR. Hansen (Denmark), Lallemand Inc. (Canada), Cargill Inc. (US), DuPont de Nemours, Inc. (US), Mole Valley Farmers Limited (UK), Volac International Ltd (UK), Wynnstay Group Plc (UK), Schaumann BioEnergy GMBH (Germany), H. Wilhelm Schaumann GmbH (Germany), American Farm Products (US), Nutreco N.V. (Netherlands), Scotmin Nutrition (UK), Microform Ltd. (UK), and Kemin Industries, Inc. (US).
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On the basis of region, the global silage inoculants market has been categorized as North America, Europe, Asia-Pacific, and the rest of the world. North America dominated the global silage inoculants market in 2018. The regional market is projected to grow by USD 41.15 million from 2018 to 2025. The US is a significant country-level market, contributing to the growth of the North American and global silage inoculant markets.
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