Asia Pacific Silage Inoculant Market - Growth, Trends and Forecasts (2017 - 2022)
Asia-Pacific is a growing region for silage inoculants. The market in this region is expected to cross US$ 64.3 million by 2020, with an estimated CAGR of 4.6%. China, India, Japan, Thailand, and Australia are the major markets in this region. With a US$ 17.3million market, China is the leading market for silage inoculants in Asia followed by India.
Asia-Pacific accounts for about 20% of share in the global silage inoculants market. It is expected to be the most prominent and fastest growing market during the forecast period. Industrialization of livestock production and rise in consumption of meat population is driving the market. Sudden hike in the cost of forage has boosted the search for alternatives like silage inoculants.
Subsidies on meat exports in countries like India is driving the manufacturers to increase meat production, thereby fuelling the growth of markets. Countries, such as Indonesia, Vietnam, and Malaysia, are also promising markets in the region. The major reason for growth in these countries is adoption of intensive farming system.
Silage inoculants are various anaerobic bacteria that help to manipulate and enhance fermentation of silage. Fermentation is an important part that decides the nutrient content and availability of silage for animal consumption. Silage inoculants are used majorly for fermentation aids and spoilage inhibitors. Lactobacillus plantarum is the major inoculant leading the market with 26% share, due to its desirable lactic acid fermentation process.
The Asia-Pacific market has a lot to offer for the market players given its ever-growing consumer base. Untapped markets of Asia-Pacific region are the targets of many key players. Both domestic and global players are focusing on increasing the production capacity, establishing manufacturing sites in Asia and conducting awareness campaigns to expand their market in the region.
Market Definition for the specified topic along with identification of key drivers and restraints for the market
Analysis for theAsia-Pacific Silage Inoculant Market, with region specific assessments and competition analysis on a global and regional scale
Segment-level analysis in terms of application and end-user demand
Forecasts and estimations for the sub-segment level market
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on a global and regional scale
Identification and analysis of the exogenous and endogenous factors such as macro and microeconomic variables that affect theAsia-Pacific Silage Inoculant Market on both global and regional scale
Extensively researched competitive landscape section with profiles of key players along with their share of markets
A comprehensive analysis of recent organic and inorganic developments in the market by the major companies, and strategic benchmarking of developments
Scope of the Study:
Comprehensive overview of the Asia-Pacific Silage Inoculant Market
Competitive intelligence regarding the major players in this industry and the strategies adopted by them
Insights about the major countries/regions in which this industry is blooming and also identifies the regions which are untapped
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