Transparency
Market Research (TMR) has observed that key players in the global
forage seeds market are paying high attention to product portfolio
diversification in order to maintain a strong foothold. Besides this,
they are investing heavy funds in maintaining strong distribution
channels in order to consolidate their presence in this highly
competitive arena. The leading players in the market are NorthStar
Seed Ltd., Allied Seed LLC, Hancock Farm and Seed Co. Inc., Germinal
GB, and S&W Seed Company.
“Business
expansion through extensive research and development and partnerships
are some of the commonly adopted strategies by these players,” says
TMR’s lead analyst. The opportunity in the global
forage seeds market was pegged at US$11.68 bn in 2015 and is
anticipated to rise to US$17.50 bn by 2020, progressing at an 8.4%
CAGR between 2014 and 2020.
Poultry
to Remain Leading Livestock Segment through 2020
On
the basis of livestock, poultry will continue to be the most
prominent segment until 2020, accounting for 31.7% of the overall
market revenue. Due to the surging demand for eggs and poultry meat
owing to their health benefits, the segment will register healthy
growth during the forecast period.
Geographically,
North America will continue to command the lion’s share in the
global arena until 2020. The snowballing demand for weed-free forage
seeds and growing profitability of agricultural and livestock farms.
Canada and the U.S. will at the forefront of growth owing to the
increasing production of premium quality forages. Asia Pacific will
rise at a CAGR of 10.5% during the forecast period, owing to the
rising consumption of dairy products and poultry meat.
For
more information on this report, fill the form @
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4163
Rising
Awareness Regarding Health Benefits of Organic Products to Augment
Sales of Forage Seeds
The
rising awareness regarding the merits of consuming organic products
is playing a vital role in the growth of the global forage seeds
market. “People around the world are growing increasingly aware of
the health risks, such as hypertension, obesity, cholesterol, and
cancers, associated with genetically modified meat,” says a TMR
analyst. “As a result, instead of altering properties of food
products, manufacturers are focusing on the food habits of animals to
meet the consumer demand”. The increasing consumption of meat and
poultry products and the changing food habits are also stoking the
growth of the market.
Apart
from this, forage seeds are widely acknowledged by producers for
their economic benefits. From the last few years, the revenue earning
per acre from ryegrass production has been greater than that of other
crops such as wheat and oats. Such facts and trends are likely to
keep the demand for forage seeds high throughout the forecast
horizon. Moreover, the introduction of high-quality forage seeds at
reduced costs is stoking the growth of the market.
Abundant
Availability of Alternative Feeds to Hamper Growth Prospects
The
abundant availability of alternative feeds is limiting the widespread
adoption of forage seeds such as ryegrass and alfalfa. In several
cases, the annual production of forages is hampered or contaminated
by calamities such as drought, acidic soils, frost, certain
herbicides, and nutrient deficiencies. These harvested seeds can lead
to fatal problems for livestock such as nitrate toxicity. These
factors, collectively, are restricting the global forage seeds market
from realizing its full potential. On the other hand, the soaring
demand for organic products owing to the increasing health
consciousness is creating ample of lucrative opportunities for the
market.
The
information presented in this review is based on a Transparency
Market Research report, titled,“Forage Seed Market (Product -
Alfalfa, Clover, Ryegrass, Chicory, and Others (Fescue and Lablab);
Livestock - Poultry, Cattle, and Pork/Swine) - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”
The
global forage seed market has been segmented as follows:
Forage
Seed Market, by Product
- Alfalfa
- Clover
- Ryegrass
- Chicory
- Others (including lablab and fescue)
Forage
Seed Market, by Livestock
- Poultry
- Cattle
- Pork/Swine
- Others (including aquaculture)
Forage
Seed Market, by Geography
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
No comments:
Post a Comment