North America Silage Additives Market - Growth, Trends and Forecasts (2017 - 2022)
North America is a semi-matured market in the world for Silage additives in terms of consumption. Silage additives have long been used as productivity enhancers in livestock; hence, market is modern and highly regulated especially in central parts of the region. The future of the Silage additives market in North America is very bright due to the increasing focus of governments on feed cost reduction and boosting animal productivity. Increasing meat consumption, food safety concerns and improving meat prices in the North America are some of the important drivers for the growth of the Silage additives market. North America is expected to reach $171.6 million by 2020 with an estimated CAGR of 4.1%.
The United States of America is major market for silage additives in the North America Region. Health conscious American populations created a demand for higher quality meat from the processing industries owing to increased safety concerns. A considerable growth in the industrial production of livestock was witnessed in the region in order to meet the increased demand for meet. These factors consequently created a demand for silage additive employment in the livestock feed, in turn boosting the market.
Silage additives are used to enhance the good quality silage into best quality silage. Inoculants and Enzymes are dominating the market with a share of more than 60%. The Inoculants market is expected to grow at a highest CAGR of 4.3% during the forecast period. Due to the carcinogenic properties of chemicals and stringent regulations on them has led it to grow at a stable CAGR.
The market is expected to grow due to the pressure from government to increase local production of meat, and reduce costs incurred on meat imports. Cereal crops have a major share in the market, 34%. Cereals are easily ensiled, as they have high water soluble carbohydrate levels. Corn, barley, and sorghum are the major cereal crops used as silage. However, legume based silages would drive the application segment for inoculants at a CAGR of XX% during 2015-2020.
The key players accounted for a market share with more than 70%, dominating the global silage additives market in 2014. Despite being engaged in the food and farming sectors for a long time-period, these MNCs could only achieve the present levels of consolidation and control over the last couple of decades. The main causes being an outcome of mixing and matching a range of approaches, which include mergers, acquisitions, R&D, agreements, etc.
Market Definition for the specified topic along with identification of key drivers and restraints for the market
Analysis for the North America Silage Additives 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 the North America Silage Additives 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 North America Silage Additives 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