Market Highlights
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%. The demand for silage inoculants is exceptionally high in developed regions such as North America and Europe. However, the use of silage inoculants is low in developing and underdeveloped economies owing to several factors. Limited awareness of the benefits of Silage Inoculants Type Industry has resulted in the reluctance of farmers to change traditional and conventional practices. Farmers and growers of livestock in developing economies widely use organic acids in the fermentation process of silage. Moreover, the availability of silage inoculants is low in underdeveloped economies. Key manufacturers of silage inoculants can find lucrative opportunities to expand their presence in such countries by introducing new products.
The established market players have positioned themselves to target specific customers and, thus, have high brand recognition. Though the entry barriers for new players are low, the prominence of the established players significantly checks the threat of new entrants.
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Segmental Analysis
The Global Silage Inoculants Market has been segmented on the basis of Type, Form, Application, and Region.
Based on application, the global silage inoculants market has been classified as cereals & grains, legumes & pulses, and others. In 2018, the cereals & grains segment constituted the largest revenue share of the market as cereals provide a wide harvest window for forage and concentrates. However, the legumes & pulses segment is expected to register the highest CAGR during the forecast period owing to the high concentrations of organic acids, salts, proteins, and minerals in pulse and legume silage resulting in a high buffering capacity.
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Regional Analysis
Geographically, the global silage inoculants market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, North America dominated the market, accounting for the largest market share of nearly 31% in 2018. However, the Asia-Pacific silage inoculants market is expected to register the highest CAGR of 6.0% during the forecast period 2019 to 2025.
Key Players
Market Research Future recognizes 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), as the Key Players active in the Global Silage Inoculants Market.
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