According to the report “Global Silage Inoculant Market “, published by Market Data Forecast, the global market is projected to reach USD 305.43 million by 2021, at a CAGR of 4.10% from 2016 to 2021.
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Though it represents a small share in the agriculture market currently, it is one of the fastest budding sectors in the overall agriculture market. Silage Inoculants improve silage quality and control the preservation process of forage ensuring maximum nutrients retention at the time of feeding. Silage improves the animal performance and health; subsequently improving the yield and quality of food from animal origin.
Silage Inoculants are used in treating crops with sufficient water soluble carbohydrates and moisture content. Fermentation of silage is a very uncontrollable process which leads to nutritional losses in the silage. Silage inoculants products are slowly gaining attention of consumers as it is a cost effective solution.
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Agriculture is a sector with enormous innovations and developments combining with the technology. Rise in global meat consumption, increase in mass production of meat, and improvement in the quality of silage are the key drivers for the growth of the global Silage Inoculant market.
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The major companies operating in the global Silage Inoculant market are Cargill, ADM, Dupont, Volac, Nutreco, Lallemand, ForFarmers, CHr.Hansen and others. Existing companies such as ADM and Nutreco have been actively involved in acquisition of regional players to strengthen their market presence.
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