The North America silage inoculant market size is projected to expand at a CAGR of 4.8% during the forecast period. Growth of the market is attributed to rising feed industry.
Silage inoculant improves the quality of silage and control the feed retention process to ensure maximum retention of nutrients during the feeding process. Silage inoculant is a widely used bacterial solvent used to accelerate the fermentation of farm silage. Silage is an animal feed made from grass or other feeds and contains 30-40% moisture. Silage vaccines contain bacterial populations, such as Lactobacillus plantarum, Pediococcus, and Lactobacillus brucei. These bacteria contained in the vaccine will surpass natural lactic acid and convert carbon 6 sugars into lactic acid.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing feed grains consumption and price is expected to boost the market during the forecast period.
- Rapid growth of the processed meat industry due to high demand of meat is major factors fueling the market.
- Increasing demand for livestock products and growing health concerns is expected to drive the market during the forecast period.
- High cost of silage inoculants and enzymes is expected to restrict the market growth.
- Lack of awareness among farmers about silage inoculants and low efficiency of silage inoculants in fermentation act as major challenges that can hamper the market growth during the forecast period.
- R&D investment and increasing efficiency of silage inoculants is projected to offer immense opportunities for the market players.
- ADM Animal Nutrition
- Agri King
- Chr. Hansen Holding A/S
- Crteva Agriscience
Key players competing in the North America silage inoculant market include ADM Animal Nutrition, Cargill, Agri King, Chr. Hansen Holding A/S and Crteva Agriscience.
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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