Market Trends of Asia Pacific Silage Inoculant Industry
This section covers the major market trends shaping the APAC Silage Inoculant Market according to our research experts:
Increased Livestock Production
Asia-Pacific is considerably a large region in terms of area and population. The higher population has a direct impact on the food requirements in the region. The health-conscious population created the need for high-quality meat products, which can be achieved only with a healthy animal fed, aided by the feed of high protein. Asia-Pacific witnessed a spike in the number of meat industries and a subsequent rise in livestock production, owing to increased demand. In addition, Asia-Pacific weather conditions are most suited to cater to the needs for the best usage of silage inoculants. Feed additives are well known for their ability to enhance the product quality, thereby, providing the required nutrition for the animal. However, the recent rise in the additive and forage costs became a burden for the farmers, which is still developing and Hence the silage inoculants are such alternatives for cost management. The increased employment of silage inoculants and a considerable rise in demand for meat in Asia-Pacific created a prolific prospect to venture for silage inoculants, in the region.
Increased Consumption of Meat
Asia-Pacific accounts for the majority of the share in the silage inoculants market. It is expected to be the most prominent and fastest-growing market during the forecast period. Industrialization of livestock production and the rise in consumption of meat population are driving the market. The sudden hike in the cost of forage has boosted the search for alternatives such as silage inoculants. The rise in income and standard of living, engaged with professional and personal work, ready-to-eat meat foods are gaining the market gradually. Developing countries, such as China and India, are slowly gaining the market by following the footsteps of western countries. Growing concerns over health have resulted in demand for high-quality meat. To meet consumer demand, farmers should feed them with highly nutritious feed. Silage inoculants known to deliver natural nutrition of feed to the animal, are gaining popularity among the farmers. The meat obtained from animals fed with a nutritious feed is found to deliver better quality meat. The shift toward meat production and industrialization requires a better regulatory framework to protect public health and high feed additive inputs in animal feed to enhance the efficiency of meat production.
