Forage
consists of grasses, herbaceous legumes, tree legumes, silage, green
feed and hay. Nearly 200 plant species have been known as forage
crops. The market for forage is segmented as fresh forage and stored
forage. Fresh forage provides the highest quality and the most
palatable feed possible. Stored forage is harvested as hay and can be
chopped and packed in plastic bags. Benefits from forage crops are
not just limited to livestock production. They also contribute to
food crop production by conserving soil, landscape and wildlife,
protecting the environment from pollution, and revegetating and
reclamation of degraded land. They are also sources of high quality
proteins for medical and pharmaceutical products. The global forage
feed market in terms of revenue was valued at USD 85.06 billion in
2013.
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Different
kinds of forage crops can be classified as permanent meadows,
temporary meadows, annual crops and crops. Permanent meadows mainly
consist of perennial legumes and grasses. Here, the land used to grow
forage is used for a period of five years or more. These are
harvested manually or grazed. In temporary meadows the land used to
grow forage is used for a period of less than five years. These
forage crops either grow in the wild or are cultivated. Annual crops
are high production grains such as wheat, sorghum and maize. Crops
are both forage and subsistence such as cowpea and sorghum.
The
market for forage feed by product type in 2013 was majorly dominated
by stored forage and accounted for 41.51% of the total market share.
In future stored forage is likely to lose its market share slightly
due to increasing health conscious among consumers regarding animal
health. Others kind of forages combined together had around 20% of
the market share.
In
terms of livestock, the market for forage feed was dominated by
poultry accounting for 33.1% of market share in 2013. This is
followed pork/swine contributed close to 29% of the market share in
terms of revenue. Cattle comparatively accounted for lower share but
in future market share is expected to increase due to multiple
benefits such as transportation, milk, beef and leather uses from
cattles.
Forage
feed manufacturing has a global reach. In terms of volume Asia
Pacific accounted for more than 30% of the overall market share in
2013 and it is expected to maintain its dominance for the next six
years. This is driven by rising population, increasing disposable
income and progressive urbanization in Asia Pacific. Europe accounts
for around 30% of the forage
feed market share. North America and RoW have the remaining
market share.
Some of the major players of the market areTriple Crown Nutrition, Inc., Standlee Hay Company, Inc., Cargill, Incorporated, Baileys Horse Feeds, Semican Inc., The Pure Feed Company Limited and J. Grennan and Sons.
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