Forage Seeds Market Overview:
Forage seeds are used in cultivating forage crops, which form a base for feeding livestock animals. These seeds improve the soil quality and do not use synthetic fertilizers and pesticides. Common forage seeds are grasses, pearl millet, alfalfa, clover, maize, and others. The global forage seeds market report by Market Research Future (MRFR) provides an in-depth analysis of the applications of forage seeds and its future impacts for the period of 2022 to 2030 (forecast period).
Forage Seeds Market is expected to grow at a 7.3% CAGR and reach USD 38,186.14 Million by 2030
Market Scope:
The global forage seeds market is projected to expand at a gradual pace owing to the demand for natural feeds and awareness of animal health. Forage seeds can lower veterinary costs and feed costs as well. Stress on high quality crops with simultaneous high forage yields can positively impact farmer bottomline margins and will lead to drive the demand for forage seeds. The large livestock population and the reduction in grazing areas will play an important role in its production.
The increased demand for organic foods in poultry, beverages, and food industries is predicted to be a golden opportunity for the global forage seeds market. This can drive the procurement of stock in abundance by farmers in the long run. The large cattle industry and the demand for meats as a protein source can drive the forage seeds demand. However, the time required for cultivation, exorbitant costs for high-quality seeds, and unpredictable climatic conditions are factors which can threaten market growth.
Segmentation:
The global forage seeds market is segmented by crop types and livestock.
By crop types, it is segmented into cereals, grasses, legumes, and others. Legumes are further segmented into alfalfa, clover, and others. Similarly, grasses are segmented into ryegrass and others. Among these, the legumes segment will dominate the global forage seeds market followed by grasses. Alfalfa is an herbaceous legume containing nearly 15-22% crude protein and vitamins. Owing to the high amount of protein and vitamins, it is primarily used for feeding livestock such as cattle, goats, sheep, and other animals.
By livestock, the market caters to ruminant, poultry, cattle, swine, and others. Cattle segment accounts for the highest consumption of forage seeds. This can be credited to its positive impact in milk quantity and improved immunity of the livestock. However, its consumption by swine is expected to witness a surge over the forecast period.
Regional Analysis:
The global forage seeds market is segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
Europe is touted to dominate the global forage seeds market due to being one of the biggest producers and exporters of poultry products. Germany and the U.K. are two of the biggest revenue generators of the region. Abundance of grazing lands for livestock and arable land for fodder production are expected to propel regional market growth.
APAC is expected a windfall during the assessment period owing to demand for poultry products, dairy products, and organic food from China and India. Government efforts for promoting the benefits of forage seeds among farmers can have an indelible impact on the regional growth. Increasing investments in research and development for development of innovative forage seeds for providing ample nutrients via feeds can push the market demand significantly.
Competitive Outlook:
Northstar Seed Ltd., Advanta Seeds Limited, Ampac Seed Co., Allied Seed, LLC, Dynamic Seeds Ltd., DOW Agrosciences LLC, Land O Lakes Inc., E.I. du Pont de Nemours and Company, Barenbrug Holding B.V., and Monsanto Company are global Key Forage Seeds Market Players. Establishment of manufacturing units in agrarian economies coupled with a strong distribution network can assist players in maintaining their position in the market.
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