Silage Inoculants and Enzymes Market REPORT OVERVIEW
- Request a Free sample to learn more about this report
The global silage inoculants & enzymes market size was USD 586.5 million in 2021 and market is projected to touch USD 869.29 million by 2031, at a CAGR of 4.0% during the forecast period.
The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Silage inoculants & enzymes are additives that contain anaerobic lactic acid bacteria that are used to influence and enhance the fermentation in corn silage and haylage. They are used to improve nutrient composition of silage to promote rapid fermentation, improve bunk life of silage, and reduce the storage losses. It is an animal feed that is made of grass or other forage that is composed of 30-40% moisture. It has bacterial populations such as lactobacillus buchneri, lactobacillus plantarum, and pediococcus species. Enzymes are used to maintain lactic acid bacteria that are responsible for maintaining pH drop.
The growing demand for such inoculants is due to rise in the cost of feed and also high cost of forage. The product is gaining attention as it is an economical option as the population of livestock and demand for them is also increasing. There has also been a decrease in the pasturing and grazing land area. Wet silages consume less time to ferment and are more uniform. New developments and increased awareness in agriculture biology is expected to create demand for the product.
COVID-19 Impact: Disruptions in Supply Chains to Decrease Market Growth
The effects of the COVID-19 pandemic are already being felt on a global level, the global silage inoculants & enzymes market is noticeably influenced. In 2020, COVID-19 has had a negative impact on many markets. Several countries went into lockdown. With the sudden pandemic, all kinds of businesses observed disruptions. With many restrictions in the pandemic, different types of markets were negatively impacted. The pandemic led to disruptions in supply chains which affected the demand and the supply of the agricultural biological products. The production of such products were also halted. Farmers were unable to have access to such additives which affected the crop production.
LATEST TRENDS
"Demand for Organic Food Consumption to Propel Market Development"
Growing trend for organic food consumption is projected to increase the growth of the global market. There has been growing awareness amongst people regarding harmful effects of the pesticides and has the demand for green and natural agrochemicals. Inoculants and enzymes are one of the emerging agricultural applications in environmental and ecosystems. Enzymes affect the microbial functions and nutrition cycling of the crops. Rising government initiatives for food and environment safety in various countries are expected to give rise to bio-based chemicals in the place of conventional chemicals. This is anticipated to pose an opportunity for the market and help in development of the market.
Silage Inoculants and Enzymes Market SEGMENTATION
- Request a Free sample to learn more about this report
- By Type
Based on type; the market is divided into heterofermentative and homofermentative.
Homofermentative is the leading part of the type segment.
- By Application
Based on the application; the market is divided into corn, alfalfa, and sorghum, and others.
Corn is the leading part of the application segment.
DRIVING FACTORS
"Increasing Demand for Agro-Biological to Support Market Development"
The global silage inoculants & enzymes market growth is estimated to rise due to demand and inclination towards agro-biological. Agricultural biological is a form of bio fertilizers and bio pesticides that are alternatives to chemical fertilizers. Due to a significant rise in fertilizers, there has been a switch to agricultural biological. Enzymes, when mixed with fertilizers produce enhanced results in soil fertility and high yield. Due to this, manufacturers are also focusing on producing better quality of agro biologicals. Growing demand for crop production and animal feeds that are free of chemicals is increasing the demand for inoculants & enzymes.
"Rising Costs of Fertilizers to Expand Demand "
Modern agricultural practices are being adopted due to rising prices of fertilizers. Growth of crops depends upon various factors such as soil fertility, rainfall, and temperatures. Farmers are increasingly becoming aware of modern farming techniques. Growing prices of fertilizers have induced the demand for modern farming techniques. Agricultural enzymes and inoculants help in fulfilling basic requirements of modern farming and help in plant growth, microbe control, and soil fertility.
RESTRAINING FACTORS
"Lack of Awareness Amongst Farmers to Hamper Market Growth"
There are a number of factors that can push the growth of the market. Restraining factors such as lack of awareness amongst the farmers about such techniques can restrain the market growth. Farmers are accustomed to chemical fertilizers and pesticides and they are reluctant to change. This is also due to the fact that chemical fertilizers have different uses. Such a factor is expected to reduce the demand for the product in the market.
Silage Inoculants and Enzymes Market REGIONAL INSIGHTS
- Request a Free sample to learn more about this report
"North America to Govern Market Due to Strict Environmental Norms"
North America holds the largest part of the global silage inoculants & enzymes market share as it is a primary consumer of agricultural enzymes and inoculants. The U.S. has a greatly evolved agricultural industry and has strict environmental norms making it a major market for agricultural enzymes. The region has great awareness about agricultural biotechnology and advanced farming technologies which are also driving the growth of the market. The farmers are also producing healthy crops that have healthy yields where enzymes act as agriculture enhancers.
KEY INDUSTRY PLAYERS
"Key Players to Boost Demand Leading to Market Growth"
The report delivers information about the list of market players and their working in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Archer Daniels Midland (U.S.)
- Chr. Hansen (Denmark)
- Du Pont (U.S.)
- Kemin Industries (U.S.)
- Addcon Group (Germany)
- Volac International (U.K.)
- Agri-King (India)
- Biomin Holding (Austria)
- Lallemand (Canada)
- Schaumann Bioenergy (Germany)
- Cargill (U.S.)
INDUSTRY DEVELOPMENT
· March 2022: AMVAC and BASF are collaborating to develop a granular soybean inoculant, Rhizo-Flo. It is an addition to the SIMPAS-applied solutions product portfolio. Rhizo-Flo is a soybean inoculant that is designed to deliver high concentrations of Bradyrhizobium cells.
REPORT COVERAGE
This research profiles a report with widespread studies that take into an explanation of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 586.5 Million in 2021 |
Market Size Value By |
US$ 869.29 Million by 2031 |
Growth Rate |
CAGR of 4% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
-
What value is the silage inoculants & enzymes market expected to touch by 2031?
The global silage inoculants & enzymes market is expected to reach USD 869.29 million by 2031.
-
What CAGR is the silage inoculants & enzymes market expected to exhibit by 2031?
The silage inoculants & enzymes market is expected to exhibit a CAGR of 4.0% by 2031.
-
Which are the driving factors of the silage inoculants & enzymes market?
Drivers of this silage inoculants & enzymes market are increasing demand for agro-biological and rising costs of fertilizers.
-
Which are the top companies operating in the silage inoculants & enzymes market?
Archer Daniels Midland, Chr. Hansen, Du Pont, Kemin Industries, Addcon Group, Volac International, Agri-King, Biomin Holding, Lallemand, Chaumann Bioenergy, and Cargill are the key companies operating in the silage inoculants & enzymes market.