Inoculants are used to control the fermentation process of silage and to enhance their quality. Rise in the cost of feed inputs and high cost of forage have generated market for silage inoculants. The products are slowly gaining the attention of livestock farmers as a cost-effective solution against feed additives. Proper fermentation of silage benefits the animal performance by boosting their immunity and improving the feed conversion ratio. The market is poised to grow at a CAGR of over 4% during the period of 2017-2022.
Factors like lack of awareness about the silage inoculants among the farmers, and the improper fermentation of forage due to less efficiency of silage inoculants, are restricting the growth of this market. Additionally, the increase in popularity of the compound feed & feed additives is barricading the consumption of forage; thereby, affecting the inoculants consumption. Asia-Pacific is a potential region with investments coming from major players in the market.
Among Inoculants, Lactic Acid Bacteria (LAB) holds more than 40% of the silage inoculants market. In this segment, Lactobacillus plantarum has the major share of 26% as they exhibit more efficiency in fermentation. Lactobacillus buchneri is a probiotics bacteria, which is effective in maintaining the aerobic stability of forage and in controlling heat during the fermentation process. Silages treated with Lactobacillus bucherni are more effective than Lactobacillus plantarum. Lactobacillus bucherni is expected to grow at the fastest CAGR compared to others with increasing demand for the product.
When the grain crops fail due to early frost or hail damage, the farmers turn the failed crops to silage. Most farmers prefer this strategy to cover the production costs and to achieve a profitable venture. Silage Inoculants are mainly used in treating the crops with sufficient water-soluble carbohydrates and moisture content. Alfalfa holds the major share among all the crops, followed by clove and maize.
The growing industrialization in livestock industry, unpredictable weather leading to more damaged crops and increased awareness among the farmers are the reasons driving the Asia-Pacific silage innoculants market. The market in the region is forecasted to grow at the fastest CAGR of 4.6% with rising awareness and popularity of the product. Europe and North America are the major consumers of silage inoculants due to the current trend of converting damaged field crops to forage crops and rise in cost of feed raw materials.
The key companies in the market are Biomin, Cargill, Lallemand, Chr.Hansen, Danisco. The most preferred strategies of the key players is to achieve competitive advantage and to expand the business units in various geographical areas by joint ventures, expansions and acquisitions. The key players are also focusing on agreements and partnerships with local players and distributors to cater to more consumers. Introducing new effective products through investments in R&D is another strategy to stay ahead of the competition.
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1.1 Research Methodology
1.2 Definition of the Market
2. REPORT DESCRIPTION
3. MARKET DYNAMICS
3.1.1 Growth in Industrial production of livestock
3.1.2 Demand for quality meat from meat and processed meat industry
3.1.3 Rise in cost of forage
3.2.1 Less awareness among the consumers
3.2.2 Less efficiency
3.2.3 Growth in Feed Additives industry
3.3.1 Developing Asia-Pacific Market
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. MARKET SEGMENTATION
4.1 By Type
4.1.1 Homolactic bacteria
188.8.131.52 Lactobacillus plantarum
184.108.40.206 Pediococcus pentosaceus
220.127.116.11 Enterococcus faecium
4.1.2 Heterolactic bacteria
18.104.22.168 Lactobacillus buchneri
22.214.171.124 Lactobacillus brevis
126.96.36.199 Propionibacteria freundenreichii
4.2 By application
4.2.1 Cereal crops
4.2.2 Pulse Crops
4.2.3 Others Crops
4.3 By Geography
4.3.1 North America
4.3.4 South America
188.8.131.52 South Africa
5. Competitive Landscape
5.1 Market Share Analysis
5.1.1 Global Market Share Analysis
5.1.2 U.S. Market Share Analysis
5.1.3 Europe Market Share Analysis
5.1.4 China Market Share Analysis
5.2 Strategies Adopted by Leading Players
6. Company Profiles
6.1 ADM Alliance Nutrition
6.3 American Farm Products
6.5 BrettBrothers Limited
6.6 Cargill Inc.
6.7 CHR. Hansen Holdings
6.8 Dr. Pieper
6.10 Envirosystems UK Ltd.
6.12 Josera GmbH & Co. KG
6.13 KW Forage system
6.15 Lallemand Animal Nutrition
6.16 Microferm Ltd
6.17 Micron Bio-Systems
6.18 Mole Valley Farmers Ltd.
6.19 Pearce Group of Companies
6.20 Scotmin Nutrition
6.21 Vita Plus
6.22 Volac International Limited
6.23 Wynnstay group
7.1 Secondary Sources