NEWARK, Del, July 10, 2024 (GLOBE NEWSWIRE) -- The corn silage market share is anticipated to surpass USD 348.5 million in 2024 and USD 688.4 million by 2034. The corn silage market size is projected to expand at a healthy CAGR of 7.0% from 2024 to 2034.
Corn silage is a common ingredient used to feed beef cattle and other domestic animals by farmers and animal husbandry to keep their health good. Corn silage required getting more nutrients to the cattle, and it increased the quantity of milk among them, which increased the demand for corn silage in animal husbandry
Demand for dairy and meat products is rising as the global population grows. To maintain the health and production of their animals, livestock farmers require a consistent and healthy feed source like corn silage. Livestock producers are under pressure to improve their animals' diets due to customer demand for higher-quality meat and dairy products. This is causing a growing dependence on feed sources such as corn silage, which can improve animal performance and product quality.
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The production of corn silage has been transformed by technological advancements in agriculture, resulting in increased yields, better quality, and more efficiency. Farmers now have access to instruments that improve every step of the corn silage production process. These include machine improvements, precision farming techniques, and genetically modified corn hybrids. These developments encourage the wider use of corn silage in animal diets by increasing productivity while lowering production costs. This makes corn silage a more financially feasible feed choice for livestock farmers.
Animal protein consumption is rising in emerging areas, especially in Asia and Latin America, where there is a significant increase in urbanization and financial development. As producers want to capitalize on rising demand, this trend in consumption is driving the growth of the livestock entities in these areas. Because of this, the need for feed ingredients like corn silage increases as animal output grows, driving market growth and offering providers a chance to enter fresh markets.
Key Takeaways from the Corn Silage Market Report
- The corn silage market size stood at USD 304.7 million in 2019.
- The beef cattle segment is slated to hold 62.80% of the market share in 2024.
- The brown mid-rib segment is anticipated to capture 41.70% of the market share in 2024.
- The market size in the United States is projected to rise at 6.10% CAGR through 2034.
- The market size in Germany is anticipated to develop at 5.70% CAGR through 2034.
- The market size in Japan is estimated to surge at 5.20% CAGR through 2034.
- The market size in India is expected to increase at 6.30% CAGR through 2034.
“Success in the corn silage market hinges on leveraging sustainability trends and gaining from the expanding livestock industry. Innovation and a focus on quality is integral for long-term growth in this market.” - Nandini Roy Choudhury, Client Partner at Future Market Insights
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Crucial Factors To Promote The Corn Silage Market
India, Europe, and the United States are the largest producers of milk due to the large number of cattle and other milk animals in these countries. These countries have greatly demanded corn silage to maintain the animal diet and health in recent years. To produce high nutrient content milk, the cattle need high content feed. This leads to an increase in the adoption of corn silage in the coming years.
These economies and manufacturers need to maintain the good quality of milk in the highly competitive market. As awareness of the nutrient content of ingredients is increasing among consumers and producers. However, they are very careful about their cattle feed which directly raises the corn silage market share during the forecast period.
Corn silage used by the end user is easy. All they need is to prepare it once, and it can be stored with a shelf life of around two years. It contains more nutritional value than other fodder. These things are pushing forward to increase the sales of corn silage in the coming years.
Many countries are facing severe drought conditions due to climate change, and hence there is uneven production of fodder for cattle around the world. A country like India is producing a large quantity of corn silage for sale in these countries, which has generated revenue for the farmers in recent years.
Owing to the benefits and better choices for reducing the gap between demand & supply and enhancing the economy Ministry of Agriculture and Farmers Welfare Government of India, in the 5th edition of the India Maize Summit, 2018 announced PPP (Public-Private Partnership) opportunities for establishing maize-based silage units.
This step has opened many investment opportunities in the corn silage market, indicating the need and demand for corn silage in the global market.
Competitive Landscape
The corn silage industry is highly competitive, with leading companies striving for market share and distinctiveness. Large international firms like Cargill, Archer Daniels Midland Company (ADM), and ForFarmers lead the industry. They achieve this owing to their enormous distribution networks, economies of scale, and diverse product portfolios. These industry titans use their strong brand recognition, financial resources, and technological skills to retain a competitive advantage and acquire profitable market sectors.
Recent Developments
- In January 2024, the Indian government announced its plans to build 100 new biogas plants in Uttar Pradesh.
- In January 2024, St1 unveiled a new biogas plant in Boras. The plant manufactures liquified biogas for supply throughout the Nordic Region.
- In June 2022, Corteva Agriscience launched a new product, Bovalta BMR (brown mid-rib) corn silage.
Report Preview: https://www.futuremarketinsights.com/reports/corn-silage-market
Corn Silage Market Segmentation
By End Use:
- Milking Cattle
- Beef Cattle
By Type:
- Brown Mid-rib
- Conventional Field Corn
- Leafy
By Nutrients:
- Net Energy for Lactation (NEL)
- Rumen Degradable Protein (RDP)
- Rumen Undegradable Protein (RUP)
- Effective Neutral Detergent Fiber (eNDF)
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Japan
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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