Asia Pacific Silage Inoculant Market - Growth, Trends and Forecasts (2020 - 2025)

The Asia Pacific Silage Inoculant Market is projected to register a CAGR of 4.6% during the forecast period 2020-2025. China, India, Japan, Thailand, and Australia are the major markets in this region. The rise in the cost of feed inputs and the high cost of forage have generated a 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 animal performance by boosting their immunity and improving the feed conversion ratio. 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.

Key Market Trends

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.

Competitive Landscape

The Asia-Pacific silage inoculant market is fairly consolidated and the market has a lot to offer for the market players given its ever-growing consumer base. Untapped markets of the Asia-Pacific region are the targets of many key players. Both domestic and global players are focusing on increasing the production capacity, establishing manufacturing sites in Asia, and conducting awareness campaigns to expand their market in the region.

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