Market Trends of North America Silage Inoculant Industry
This section covers the major market trends shaping the North America Silage Inoculant Market according to our research experts:
Growth in Industrial Production of Livestock
The per capita consumption of red meat and livestock products like milk across the region has increased rapidly, as they are considered an important source of nutrition/protein by consumers in different countries. This growth has resulted in increased production of high-quality livestock products and high demand for livestock. In response to globalization and the increasing demand for animal-sourced food, the North American livestock sector witnessed a robust growth rate in the past couple of years. Industrial-scale livestock production makes optimum use of high-quality feed to improve efficiencies in the production process, improve feed conversion ratios, and enhance animal muscle mass and protein content. With the adoption of industrial-scale livestock production by several farmers, the application of silage inoculants in feed has been enhanced to maintain the quality of the livestock. This increasing application is supported by several product launches by international players.
The United States Dominates the Market
The United States is the major market for silage inoculants in the North American region, followed by Canada and Mexico. Silage making is traditionally practiced by the larger agricultural sector in the United States. Failed crops are converted into silage to overcome the production costs. Alfalfa, corn, and sorghum are the major silage crops harvested in the United States. There was considerable growth in the industrial production of livestock to meet the increased demand for meat in the region. Therefore, the need for improved animal performance with agricultural wastes boosted the silage inoculant market in the region.
