Inoculants: Major Market Share Holder in Silage Additive Segment
Posted: Jul 17, 2015
Enhancing the quality of silage is the major benefit of applying silage additive products in animal feed. By controlling the fermentation process, it provides the animals with more nutrients to intake and in turn helps in maintaining the health of live stocks. Silage additive in 2015 is $534 Million and expected to cross $646 Million by 2020 with a CAGR of 3.8%.
The incessant rise in population, lifestyle changes, and cultural trend shift are the major reasons behind exponential growth in animal and dairy based food consumption globally. Industrialization of livestock and meat industry is driving factor of the market in developing countries. The increasing meat demand has led to increased utilization of compound feed and silage feed additives. Due to heavy pressure to supply with healthy products and animal protein, livestock farmers are depending on silage additives more has generating an opportunity for silage additive manufacturers. This growth has created tremendous opportunity and demand for innovative products in animal nutrition. Product innovation and growth in the developing economies would provide future opportunities.
One of the most widely applied silage additive is inoculant which plays a major role in fermentation. Inoculants are used to ensure the proper lactic acid content in fermentation. At a market share of 84%, LAB is the major inoculant leading the market. Due to different optimal conditions of growth, LAB has got diverse usages. Inoculants market in 2015 is $ 223 Million and expected to cross $ 274.8 Million by 2020 with a CAGR of 4.3%.
Application of acids and organic acid salts help in restricting growth of undesirable bacteria. As they act as aerobic spoilage inhibitors, Corrosive nature of the product is reduced due to acids. Major types of acids consumed here are formic acid and propionic acids. The market for this category is expected to grow at a CAGR of 3.8%.
Enzymes are used basically to break down complex carbohydrates into simple sugars. Cellulose and hemicellulose are the most consumed in case of enzyme silage additives products due to their high functioning in reducing the dry matter content.
Adsorbents are used to minimize feed losses. Depending on the dry matter content, types of adsorbents vary from Sugar beet pulp to bentonite and grains etc. The usage of grains as adsorbents in Asia-Pacific is increasing day-by-day while Europe forms the matured market.
Formaldehyde and sodium nitrate are majorly used as chemical inhibitors. Chemical Inhibitors Market is expected to cross $41 Million by 2020 with a CAGR of 2.8%. Regulatory structures of some countries form major constraint for extensive use of chemical inhibitors as silage additives.
Other silage additives are molasses, sugars, ammonia, urea and minerals. Each has their own function is enhancing the silage quality.
With a sophisticated livestock industry in place, Europe forms the major market for silage additive products globally. Europe and North America together share more than 60% of the market. Due to economic growth, consumer food habit changes and overall growth in animal/livestock based industry in the region, Asia-Pacific is going to experience massive growth opportunity in next five years.
We specialize in Market Research Consulting, Market Research Reports, Market Sizing Reports, Industry Research Reports, Global Strategic Business Reports etc.