Documented instances of bio magnification bolsters usage of organic additives, stimulating growth
Dubai, United Arab Emirates - March 16, 2021 /MarketersMedia/ —
Future Market Insights, Dubai: ESOMAR-certified market research firm Future Market Insights’ recent report on the global silage additives market anticipates strong growth through 2021. A rebounding livestock processing industry in a post-pandemic upswing is expected to majorly sustain silage additives market growth throughout the current financial year.
Historically, the market registered substantial gains, expanding at a CAGR of over 4% between 2016 and 2020. Growth was primarily underpinned by increasing demand for using safer feed additives in the wake of documented instances of adverse impacts. For instance, according to Regulation 2018/183 of the EU, the authorization and use of formaldehyde additives was denied in 2018 for treating microbial contamination, as risk assessment findings were inconclusive regarding the safety benchmark for appropriate usage.
Similar regulations banning incorporation of Ethoxyquin and Cassia gum were also passed in preceding years. Such stringent regulations opened the doors for silage additives manufacturing. Future outlook remains highly positive, with the US Department of Agriculture estimating global meat production, especially pork, to rise by 2% to over 100 million tons in 2021. FMI expects the market to grow at over 5% CAGR through 2031.
“An expanding global population base is stimulating demand for meat and dairy products, inclining usage of animal friendly and safe feed additives, thereby inclining prospects for silage additives,” remarks the FMI analyst.
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Key Takeaways from FMI’s Silage Additives Market Study
By product, combination silage additives to hold maximum sway, amid rising demand for a well-balanced nutrient intake
Greater inclination towards liquid additives is anticipated in the long-run, attributed to ease of mixing
By function, stimulation treatment to remain the primary application area for silage additives
Corn silage additives to register maximum sales, on the back of increasing maize-derived fodder consumption
US to experience nearly nine out ten silage additive sales across North America, amid growing need for fresh forage
Growing aerobic spoilage frequency of dry fodder to bolster silage additives production in the UK
Germany & France to experience high sales amid growing emphasis on promoting livestock health
Emerging technologies to prevent spoilage driving sales across the Indian, Chinese, Japanese and South Korean markets
Silage Additives Market- Prominent Drivers
Surging biogas production to meet renewable energy requirements increasing silage additives production
Growing tilt towards organic food consumption is fueling silage additive usage to enhance animal feed quality
Unrelenting meat and dairy products consumption is boosting demand for silage additives to ensure production of good quality milk and meat
Silage Additives Market- Key Restraints
Heightened investment costs resulting out of utilizing advanced processing equipment is expected to limit silage additive sales
Inconsistency in silage additive processing infrastructure amid a rapidly expanding food demand is likely to restrain growth
Discover more about the silage additives market with 214 figures and 160 data tables, along with the table of contents. You will also find detailed market segmentation on https://www.futuremarketinsights.com/reports/silage-additives-market
Competitive Landscape
Key silage additive manufacturers profiled by FMI include BASF SE, Chr. Hansen Holdings A/S, Nutreco, Biomin, Shandong-Baolai-Leelai Bio-industrial Group, DuPont de Nemours Inc., Lallemand Inc., Kemin India, Micron Bio-Systems, Cargill Foods and Addcon Europe GmbH among others. Expansion of existing product portfolios and capacity expansion are some important growth strategies adopted by some of the aforementioned players.
In July 2020, Biomin received EFSA approval to market its FUMzyme® Silage additive, sprayed onto maize, especially corn, harvest. The formulation targets harmful fumonisins and detoxifies the produce, rendering them suitable for livestock consumption. The go-ahead is likely to enable Biomin’s penetration across potential EU markets.
Likewise, Micron Bio-Systems offers its Advance Silage Inoculants, specifically formulated to produce the best results in silages made from grass, legume, maize and wholecrop forages. The product offers aerobic stability, helps reduce dry matter loss and increases digestible NDF and crude protein.
More Insights on FMI’s Silage Additives Market
Future Market Insights, in its new offering, provides an unbiased analysis of the Silage Additives Market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the Silage Additives market based on type (homofermentative inoculants, heterofermentative inoculants, combination products, acids and acid salts, molasses or sugar, enzymes and non-protein nitrogen compound), form (powder, liquid), function (stimulation treatment, inhibition treatment, other functions) and silage crop (corn, alfalfa, sorghum, oats, barley, rye, other crops) across seven major regions.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/silage-additives-market
Source: MarketersMedia
Release ID: 89001212
