Global Forage Seed Market Size, Share & Industry Trends Analysis Report By Species, By Product, By Livestock, By Regional Outlook and Forecast, 2022 - 2028
The Global Forage Seed Market size is expected to reach $35. 4 billion by 2028, rising at a market growth of 6. 9% CAGR during the forecast period. Forage seeds are the edible sections of plants that are commonly used to feed cattle.
New York, June 10, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Forage Seed Market Size, Share & Industry Trends Analysis Report By Species, By Product, By Livestock, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06283426/?utm_source=GNW
Alfalfa, chicory, clover, ryegrass, fescue, and lablab are some of the most widely used forage seeds in the world. When compared to other feeds like oilseeds and wheat bran, they are less expensive. Seed conditioners and cultivators receive these forage seeds for further processing and conditioning, resulting in purified seeds with higher protein & energy levels. Forage seed is in high demand because of its high nutrient content, which aids in lactation, reproduction, and cattle health. Furthermore, forage seeds are extensively utilized to boost milk output. Pasturage, silage, hay, and green chop are examples of digestible material, as opposed to roughage, which is less digestible. In practice, although, the term is frequently extended to woody plants that produce succulent growth, and some trees and shrubs in the tropics play an important role in this regard. Forage crops can be planted in cuts or pastures and brought to the animals who will consume them.
The use of forage seeds in animal feed preparation has expanded due to rising awareness of livestock health and a rising preference for natural and organic animal feed. Manufacturers are being encouraged to add forage seeds in feed preparation for animals due to the growing popularity of organic meat & meat products. The global forage seed market is likely to be driven by rising meat and poultry consumption in the future years. For example, as per the United Nations’ Food and Agriculture Organization (FAO), global annual meat consumption per capita is anticipated to reach 35 kg retail weight equivalent (r.w.e.) by 2025, up from 1.3 kg (r.w.e.) from 2014. Animals can eat fodder that has been processed or treated, like dried biomass or hay, or seeds that has been foraged on grazing land.
Moreover, if backyard forage cultivation and growing enhanced forages are generally adopted in the dairy business, where feed shortages are a considerable problem, cultivating feed supplies is achievable. In addition, the availability of high-quality forage seed in sufficient numbers is a critical aspect in improving forage production and increasing livestock output around the world. For example, Grassland Oregon debuted the FIXatioN Balansa & Frosty Berseem clovers in December 2017. The new kinds can resist temperatures as low as -26 degrees Celsius and -5 degrees Celsius, respectively.
COVID-19 Impact
In several nations, the outbreak of the COVID-19 pandemic has had an impact on the industry. Because of regulation and restrictions on people’s mobility through borders & lockdowns, agriculture, which has a high seasonal labour requirement, is experiencing labour shortages. For example, by 2021, travel restrictions inside the European Union, as well as the closure of the Schengen Area, will have drastically limited the amount of available labour in European countries’ agricultural industries. Moreover, the forage seed industry is experiencing distribution network disruptions and raw material shortages.
Market Growth Factors
Growing demand for Animal Products
The demand for various food products across the world has risen as a result of a growing population and recent increases in consumer income. Also, the demand for milk and milk products is significantly increasing, due to which, the livestock industry all over the world is rapidly. The global intake of animal products like meat and milk is rising, owing to expanding awareness of the health advantages of milk and the surging demand for protein-rich products across the sports industry. Moreover, farmers choose top-quality pasture for their livestock to produce high-grade goods. As per the Food Agriculture Organization (FAO), between 2015 and 2030, the annual growth of the dairy and meat markets in developing nations is expected to be 2.1 percent and 2.3 percent, respectively.
Nutritional attributes of the product
As per the World Health Organization, increased disposable income is directly linked to meat intake in emerging economies. Meat consumption is linked to a variety of health benefits, including higher protein and macro nutrient intake. The consumption of meat has grown as a result of increasing income. Meat consumption has increased in various developed and developing countries over past few years. Moreover, rising health awareness among people is expected to boost the worldwide forage seeds market throughout the forecast period, resulting in higher demand for organic food in the beverage, food, and poultry industries.
Market Restraining Factors
Lack of technology and high-quality feeds and forages.
One of the most significant obstacles in forage seeds harvesting is the scarcity of high-quality feeds & forages. As a result, animal performance suffers and resources are used inefficiently. In addition to a paucity of high-quality forages, forage planting materials, such as vegetative and seed material, are scarce to provide producers with enhanced forages suited to various ecologies & agricultural contexts. With insufficient forage seed research, a basic lack of reliable forage seed production, processing, and distribution schemes, badly developed seed marketing systems, and lesser engagement of private seed businesses, the forage seed value chain is becoming poor and frequently dysfunctional.
Species Outlook
Based on Species, the market is segmented into Legumes and Grasses. The Grasses segment garnered substantial revenue share of the forage seed market in 2021. Grazed pastures, cut fodder, and harvested seed crops are all examples of forage grasses, generally from dual-purpose food and feed crops.
Product Outlook
Based on Product, the market is segmented into Alfalfa, Clover, Ryegrass, Chicory, and Others. The Alfalfa segment acquired the highest revenue share of the forage seed market in 2021. The usage of alfalfa in the treatment of asthma, cholesterol, rheumatoid arthritis, osteoarthritis, diabetes, thrombocytopenic purpura, and unsettled stomach is increasing its demand. Vitamins A, E, C, and K4 are abundant, as minerals including potassium, calcium, phosphorus, and iron. This is likely to provide profitable prospects for the alfalfa market. Moreover, Alfalfa is valued by producers for its good yields, wide adaption, disease resistance, and excellent feeding quality. Furthermore, the demand for healthy animals along with the demand for eggs, organic meat, and milk is accelerating all over the world, due to which, the employment of forage seeds would rise in the forecast period.
Livestock Outlook
Based on Livestock, the market is segmented into Poultry, and Cattle, and Others. The Cattle segment procured substantial revenue share in 2021. The key reasons for the increased use of forage seeds in cattle feed preparation are to enhance milk quantity and quality, as well as to improve livestock immunity. The inclusion of forage seed in cattle feed preparation is intended to improve the cattle’s performance and production. Furthermore, forage seeds aid in the production of more milk and strengthen the immunological system of cattle. The quality of meat and milk products is closely related to the quality of the animal feed; therefore, increasing the amount of forage seed added to cattle feed and boosting forage seed production is essential. This factor is expediting the demand for forage seed across the world.
Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2021, North America accounted for the largest revenue share of the forage seed market. The rise of the regional forage seed industry is fuelled by favourable meteorological conditions and rising international & domestic demand. North America is now the world’s largest forage seed industry, with Alfalfa being the most traded seed across all categories. This is due to increasing dairy product usage and customer preference for organic feed, as well as an increased requirement for forage seeds. In addition, reducing the amount of land used to feed animals boosts alfalfa production, which drives the growth of the forage seed market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BASF SE, Land O’Lakes, Inc., Central Garden & Pet Company, Corteva, Inc. (Dow AgroSciences LLC), United Phosphorus Ltd. (Advanta Seeds), The Royal Barenbrug Group, Ampac Seed Company, Allied Seed, L.L.C., Hancock Farm & Seed Co., and BrettYoung Seeds Limited.
Strategies Deployed in Forage Seed Market
Feb-2021: Central Garden took over Green Garden Products, Freeman Spogli, and Green Garden private-equity firm. Through this acquisition, Central Garden would enter the crucial bordering category in the garden sector by adding Green Garden’s dominating brands for herb, vegetable, and flower seed and seed starter packages in their portfolio.
Apr-2021: Royal Barenbrug Group formed a partnership with Dow AgroSciences, a Chemicals company. Together, the companies aimed to introduce Barenbrug do Brasil which would offer seed production, plant breeding, and processing of pasture seeds, such as forage legumes and Brachiaria hybrids, for the Brazilian market.
Mar-2021: The Royal Barenbrug Group expanded its business by establishing Barenbrug in South Africa. Through this expansion, the company focused on seed production and marketing & sales of innovative turf, local testing, legumes, and forage grasses in Southern African countries.
Dec-2019: Bidco Land O’Lakes expanded its geographical footprint by establishing new state art producing animal feed plant in Nakuru. Through this expansion, the company aimed to generate 28 metric tons per hour of animal nutrition items. Additionally, automatic machines assist in assuring accuracy and quality in manufacturing and minimize the possibility of human faults.
Jun-2019: Land O’Lakes formed a joint venture with Royal Agrifirm Group, a cooperative enterprise, in China. Together the companies aimed to introduce Agrilakes, and influence actual market research, technologies, knowledge, and insights abilities from both Land O’Lakes as well as Agrifirm to offer China-based feed consumers and dairy farmers.
Aug-2018: BASF took over Bayer, a multinational pharmaceutical and life sciences company. This acquisition aimed to add on assets to powerful agricultural solutions offering and improving innovation abilities for the consumers.
Scope of the Study
Market Segments covered in the Report:
By Species
• Legumes
• Grasses
By Product
• Alfalfa
• Clover
• Ryegrass
• Chicory
• Others
By Livestock
• Poultry
• Cattle
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• BASF SE
• Land O’Lakes, Inc.
• Central Garden & Pet Company
• Corteva, Inc. (Dow AgroSciences LLC)
• United Phosphorus Ltd. (Advanta Seeds)
• The Royal Barenbrug Group
• Ampac Seed Company
• Allied Seed, L.L.C.
• Hancock Farm & Seed Co.
• BrettYoung Seeds Limited
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Read the full report: https://www.reportlinker.com/p06283426/?utm_source=GNW
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