Description
Chemical Silage additives act as aerobic stability and fermentation aids to lower the risk of poor fermentation quality and reduce the nutritional losses during the ensiling process . The market has recorded its revenue as $ 311.8 million in 2014 and expected to reach $ 371.3 million by 2020 with a CAGR of 3.9 % during the forecast period . Growing awareness of farmers about increased performance of animals consuming treated silage has led to a surge in demand for the products . Additionally , rise in cost of forage and feed additives have created opportunity for chemical silage additives . The market is further expected to expand by growing demand for animal protein and industrialization of animal production .
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High adoptability to feed additives is obstructing the growth of market . Apart from it , dependence on various factors for silage fermentation and less efficiency of silage additives are restraining the market growth . Innovations to improve the dry matter content and protection from clostridia has spawned an opportunity to the market . Enzymes are majorly used among the additives as they breakdown the complex carbohydrates into simple sugars , which in turn enhance the LAB performance to stabilize the fermentation process . Enzymes are used individually or in combination with inoculants . Acids & organic salts are the other most preferred additives for stabilizing the pH and restricting the growth of unwanted bacteria . High forage yield potential , high in digestible energy and protein makes the alfalfa forage extremely valuable feed . As a result the consumption of additives for alfalfa fermentation is more compared to other crops . The market for clover , maize and sorghum is expected to rise during the forecast period due to high quality protein digestibility , nitrogen fixation and palatability enrichment .
Europe is leading the market due to growing awareness among the farmers about transforming the damaged field crops into forage crops . The rise in cost of forage has led to the shift of the farmers to on farm silage production thereby driving the market for silage additives . Growing awareness of additives role and their functionality in silage fermentation among the farmers has driven the market for chemical additives in developing countries of Asia-Pacific and South America region . Major players in the chemical silage additives market are BASF , Cargill , ADM , Volac and Nutreco N . V . among others . Developing countries of Asia and South America are the key growth markets in the industry . Major players are rapidly tapping into these markets through joint ventures and acquisitions . Innovations and mergers has been the most adopted strategy for growth in this market over the last five years .
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In this report we offer , Market Definition for the specified topic along with identification of key drivers and restraints for the market . Market analysis for the Global Chemical Silage Additives Market , with region specific assessments and competition analysis on a global and regional scale .
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