Forage Seeds Market Overview:
Forage Seeds form an essential part of feeds for farm animals. The forage seeds largely fulfil the demand for nutritional feeds for livestock. High-quality forage seeds are used to correct nutritional deficiencies, improve digestive health and prevent diseases in farm animals. Forage seeds are used for grazing animals.
The size of the global forage seeds market was valued at USD 12.52 billion in the year 2020. This value is estimated to increase to USD 38,186.14 Million in 2030. The CAGR of this market is projected to be 7.3% in the forecast period 2021-2028.
Rising demand for products obtained from livestock and consequent increase in the livestock population is driving the growth of the Forage Seeds Market Insights. Decreasing grazing land and increased awareness of animal health are also increasing the demand for forage seeds. Growing demand for healthy meat obtained from healthy livestock is another growth driver for the forage seeds market.
Restraining factors for the forage seeds market include high prices, long cultivation times, and climatic and soil conditions changes. Furthermore, Covid-19 restrictions had a detrimental effect on the movement of forage seeds across borders. However, the market is likely to pick up with the restrictions being lifted.
Market Segmentation:
The forage seeds market has been divided into Alfalfa, Ryegrass Clover and Chicory based on type. The Alfalfa segment holds the largest market share. It is mainly used as feed for cattle, goats and horses. Alfalfa improves the animals' digestive health and improves soil quality. Clover is another leading segment due to its high protein and digestible fibre content.
The forage seeds market has been classified into legumes and grasses based on species. The legumes segment holds the largest market share. Legume forage seeds provide protein and essential nutrients to the animals. Moreover, the nitrogen-fixing property of legumes improves soil fertility.
Based on livestock, the forage seeds market has been divided into poultry, cattle and swine. The largest segment is forage seeds for cattle. This is mainly due to the high demand for good quality milk.
On the basis of origin, the forage seeds market has been segmented into organic and inorganic. Organically grown forage seeds are likely to grow at the fastest rate in the forecast period owing to the high demand for safe and nutritious animal feeds.
Regional Segmentation:
On the basis of geography, the Forage Seeds Market Outlook is divided into North America, Europe, Asia Pacific and the rest of the world. Asia Pacific holds the largest share and is also projected to exhibit the highest CAGR in the forecast period. This is mainly due to the rising demand for dairy products and decreasing grazing land.
Key Players:
Some of the key players profiled in the global forage seeds market are: Monsanto Company (U.S.), DOW Agrosciences LLC (U.S.), Advanta Seeds Limited (India), Land O Lakes Inc. (U.S.), Barenbrug Holding B.V. (the Netherlands), E.I. du Pont de Nemours and Company (U.S.), Allied Seed, LLC (U.S.), Northstar Seed Ltd. (Canada), Dynamic Seeds Ltd. (Thailand), and Ampac Seed Co. (U.S.), among others.
Industry News:
- On May 2020, DL Seeds announced the launch of two new forage pea varieties, namely DL Delicious and DL Goldeye
- July 2020 saw the launch of a new line of forage seeds by Alta Seeds called Empyr Premier Forages
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