Silage Additives Market size is valued at USD 2,523.2 million in 2021 and is expected to grow at a significant CAGR of 4.6% during the forecast period 2022 to 2028. The global market provides a detailed overview and which can be segmented by product type, silage crop, formulation, application, and region. By product type, the market has been segmented into organic acids, enzymes, sugars, inoculants, and others. By product type, the enzyme segment would expect to have the largest revenue share of the silage additives market over the forecasted period due to the high demand for enzymes as additives in various food items. Based on silage crops, the segment has been segregated into alfalfa, oats, rye, barley, corn, sorghum, and others. Corn constitutes a significant market share owing to a high production rate of corn worldwide. North America leads the crop segment market due to having well-established farms for corn production. Based on formulation, the segment has been segregated into dry, and liquid. Based on the formulation, the liquid segment is expected to dominate the global silage additives market. Based on the application, the segment has been segregated into inhibition, stimulation, moisture absorption, and others. The moisture absorption segment is expected to lead the end-user segments due to the increasing demand for frozen foods worldwide, which enhances the demand for moisture absorption applications.
In March 2021, Volac acquired Micron Bio-Systems, the UK-based bio-science solutions company. Micron Bio-Systems manufactures and sells silage additives at its site in the United Kingdom and the United States.
In January 2021, the U.S. FDA approved Enhertu for the treatment of advanced or metastatic forms of the disease.