Forage seed market
is expected to experience steady growth throughout the forecast period. Forage
seeds are widely used for livestock feeding to increase their protein, energy,
and reproduction level. In this report, the forage seed market is categorized
into alfalfa, clover, ryegrass, chicory among others including lablab, fescue.
Increasing demand of forage crops for livestock feeding is one of the major
factors fueling the demand for forage seeds globally. Alfalfa held the largest
market share in 2013 followed by clover and ryegrass. Others including lablab,
fescue is the fastest growing segment, growing at a CAGR of 12.4%. The forage
seed market has experienced diversified trends across different regions
including North America, Europe, Asia Pacific and RoW. Geographically, North
America held the largest market share in 2013, and is expected to continue its
dominance throughout the forecast period.
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The global forage
seed market is expected to witness stable growth owing to rising demand for
forage feed for livestock. Apart from this, the economic benefits such as
improved soil structure, prevention of soil erosion, crop rotation and risk
diversification is also expected to boost the demand for forage seeds globally.
The situation is further stimulated due to increasing growth of livestock
particularly that of genetically modified animals. The available forages are
poor in quality, deficient in available protein, energy and minerals. In order
to compensate for the low productivity of the livestock, farmers maintain a
large herd of animals, which adds to the pressure on land and fodder resources.
In North America,
the forage seed market is expected to grow significantly, due to growing demand
from leading markets such as the U.S., Canada and Mexico. North America would
observe steady growth in the forecast period due to increasing demand for
weed-free forage products. In addition, the increasing profitability of
agricultural farms and livestock farms is fueling the demand for forage seeds.
The U.S. and Canada produce premium quality forages for both their respective
domestic and the international markets. These countries have approximately 36
million hectares of grassland for livestock grazing and production of forage
crops. Alfalfa, clover and ryegrass are some of the popular forage seeds in
this region. Currently, Asia Pacific is smaller market as compared to other
developed regions. However, this market is expected to witness robust growth
during the forecast period. In addition, the economic benefits such as crop
rotation and risk diversification of forage seed cultivation are also expected
to boost the forage seed market in Asia Pacific. Alfalfa, ryegrass, fescue and
chicory are low-price forage seeds and these are easily procured for feeding
livestock. China and India are the major markets for forage seed in Asia
Pacific due to the countries’ growing livestock population
Global forage seed
market is also segmented in terms of livestock type, namely,
poultry, cattle, pork/swine and others (including aquaculture). In global
forage seed market, poultry segment holds the largest market share, followed by
cattle and pork/swine segment. Due to increasing demand for poultry meat and
eggs, poultry farms are focusing on better quality forage seeds to improve
productivity. In addition, the growing dairy industry is further contributing
to the growth of forage crops that helps to increase the demand for forage
seed.
Major markets
such as the U.S., Canada, France, Ireland, China, India, and Brazil among
others are expected to witness robust demand for forage seeds in the coming
years. Forage seed market is dominated by key players such as Allied Seed, LLC,
S&W Seed Company, Hancock Farm & Seed Co., and Northstar Seed Ltd.
These companies supply different forage seeds through strong distribution
channels.
Global forage
seed market is valued at USD 10,789.3 million in 2014 and is expected to reach
USD 17,508.5 million by 2020, growing at a CAGR of 8.4% from 2014 to 2020. The
growth in the forage seed market is primarily attributed to growing demand for
forage crops for feeding livestock in developed markets such as the U.S.,
Canada, France, Ireland, China and Brazil.
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