According
to a recent market research report published by Transparency Market
Research, the global forage feed market is estimated to expand
positively at a CAGR of 11.4% during the period between 2013 and
2019. The report, titled “Forage Feed Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”,
projects the global forage feed market to be worth US$162.87 bn by
the end of the forecast horizon. The overall market stood at a
valuation of US$85.06 bn in 2013. In terms of volume, the global
forage feed market is anticipated to rise at a CAGR of 9.2% during
the period from 2013 to 2019.
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exclusive Sample of this report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1654
The
report states that the ever-increasing demand for livestock products
such as meat, milk, and other animal products is fuelling demand from
the global forage feed market. However, the high cost of forage feed
is influencing consumers to look for cheaper substitutes. For example
in the U.S., consumption of distillers grains as a cheaper substitute
to forage feed was significantly high in 2013. Lack of funding for
forage research has also restricted the growth of the overall market.
The global forage feed market has a huge opportunity to grow with
product innovations.
On
the basis of product type, the report segments the global forage feed
market into fresh forage, stored forage, and others. In 2013, stored
forage dominated the overall market and accounted for 41.51% market
share. During the forecast horizon, the demand for stored forage is
expected to decline marginally owing to the rising awareness about
animal health.
In
terms of livestock type, the report categorizes the global
forage feed market into cattle, poultry, aquaculture, pork,
swine, and others. In 2013, poultry was the leading livestock segment
in the market and accounted for 33.1% of the market. The pork/swine
market generated around 29% of total market revenue in the same year
and emerged as the second largest livestock market. During the period
between 2013 and 2019, the cattle market is anticipated to register
robust growth due to the growing awareness about the utility of
numerous cattle products.
The
report studies the global forage feed market across four key regions:
Asia Pacific, Europe, North America, and Rest of the World. In terms
of production volume, Asia Pacific accounted for over 30% market
share in 2013 and dominated the overall market. During the forecast
period, the region is likely to maintain its leading position. Europe
was the second largest market for forage feed in 2013.
Describing
competitive landscape, the report profiles some of the key players in
the global forage feed market such as Semican Inc., Triple Crown
Nutrition Inc., ADM Alliance Nutrition Inc., Cargill Inc., Baileys
Horse Feeds, Standlee Hay Co. Inc., The Pure Feed Co. Ltd., J.
Grennan and Sons, BASF SE, NWF Agriculture Ltd., Chaffhaye Inc., and
Brett Young Seeds.
Global
Forage Feed Market has been segmented as:
Global
Forage Feed Market, by product type
- Stored forage
- Fresh forage
- Others
Global
Forage Feed Market, by livestock-type
- Poultry
- Cattle
- Pork/ Swine
- Aquaculture
- Others
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