The Europe silage additives market was valued at USD 169.51 million in 2023 and is anticipated to reach USD 175.44 million in 2024 from USD 231.02 million by 2032, estimated to grow at a CAGR of 3.5% from 2024 to 2032.
The European market is expected to witness substantial growth in the coming years. The persistence of silage additives is to regulate the protection course so that by the time of nurturing it has reserved as many of the nutrients existing in the original fresh forage as possible. Nevertheless, the precise nutrient position of the silage will rely on various factors that can only be organized via management.
The strategy from the European government to reduce imports of meat & increase in house making and financial support to stock farmers is predicted to give a boost to the livestock industry and a further increase in the silage additives market. An increase in the awareness of natural and organic fodders is likely to keep the market flooded.
The high cost of silage additives is hindering the growth of the market.
Inoculants have the major market share among silage additive material types and are predicted to grow with the growing demand for silage additives in the livestock industry.
Spain, the UK, and France are major markets. Germany is anticipated to grow fastest in the forecast period.
BASF SE (Germany), ADDCON (Germany), Novozymes A/S (Denmark), DSM N.V. (The Netherlands), Cargill Inc., Evonik Industries AG (Germany), Selko Feed Additives (The Netherlands), Volac International Limited (U.K.), Schaumann BioEnergy GmbH (Germany) and CHR. Hansen Holdings A/S (Denmark). These are some of the major key players involved in the European silage additives market.
Frequently Asked Questions
As of the latest data, the Europe Silage Additives Market is valued at USD 169.51 billion In 2023.
Germany, France, and the United Kingdom are the major contributors to the Silage Additives Market in Europe.
Stringent regulatory standards in Europe ensure the safety and quality of silage additives, fostering consumer trust and positively influencing the development of innovative and compliant products.
Germany is the leading region in the European silage additives market.
BASF SE (Germany), ADDCON (Germany), Novozymes A/S (Denmark), DSM N.V. (The Netherlands), Cargill Inc., Evonik Industries AG (Germany), Selko Feed Additives (The Netherlands), Volac International Limited (U.K.), Schaumann BioEnergy GmbH (Germany) and CHR. Hansen Holdings A/S (Denmark).
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