Market Size of North America Silage Inoculant Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Silage Inoculant Market Analysis
The North American silage inoculant market is projected to record a CAGR of 4.8% during the forecast period (2022-2027).
In 2020, the COVID-19 outbreak disrupted the cattle and feed industries' supply chains and the entire feed input value chain, from raw material acquisition to processing, packaging, and distribution.
The demand for silage inoculants is linked to the demand for animal feed. North America is the major market for silage inoculants globally. The region holds around one-fourth of the total global market share. North America is the highest revenue-providing region with a huge market share of 25% and a high growth rate of 4.2%. The North American market is modern and highly regulated, especially in central parts of the region. Increasing government support for the feed industry may help the silage inoculants market grow sustainably.
