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(MoneyNewsWire.Net, May 08, 2018 )
The North America Silage Additives Market was worth $91.2 million in 2016 and estimated to be growing at a CAGR of 3.29%, to reach $107.22 million by 2021. North America is a partially developed market in the world for Silage additives in terms of intake.
Silage additives have been used as production enhancers in cattle’s since many years. Enhancements have been and are being made and there are plenty evidences supporting positive responses in animal performance from treated silage.
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Market is contemporary and vastly structured mainly in central parts of the region. The future of the Silage additives market in North America is very positive due to the rising emphasis of governments on feed cost drop and increasing animal productivity. Growing meat consumption, food safety apprehensions and refining meat prices in the North America are some of the key drivers for the growth of the Silage additives market. Affordability of silage additives for farmers is acting as a constrain for the market.
North America market for Silage additives is segmented by type Inoculants, Acids and Organic acid salts, Enzymes, Adsorbents and Chemical Inhibitors. Based on application the market is bifurcated into cereal crops, legumes and other application types. Cereal crops segment is further divided amongst Corn, Barley, Oats, Wheat and Sorghum. Legumes are sub segmented into Peas, Fababbeans, Alfalfa and Clover. Ornamental Grass and Canola are other application types of silage additives. Inoculants have the major market share among the Silage Additives material type and is predicted to grow with the growing demand for silage additives in the livestock industry.
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Geographically the market is segmented into USA and Canada. The USA is major market for silage additives in the North America Region and is estimated to grow at higher rate compared to Canada during the forecast period.
Some of the major market players offering silage additives are BASF SE, ADDCON, Novozymes A/S, DSM N.V., Cargill Inc., Evonik Industries AG, Selko Feed Additives, Volac International Limited, Schaumann BioEnergy GmbH and CHR. Hansen Holdings A/S.
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