A new Transparency
Market Research report states that the global Forage
Seed Market stood at US$10.8 bn
in 2014 and is predicted to reach US$17.5 bn by 2020. It is expected
to expand at a CAGR of 8.40% from 2014 to 2020. The title of the
report is “Global Forage Seed Market - Industry Analysis,
Size, Share, Growth, Trends and Forecast 2014 - 2020”.
Forage seed market
is expected to experience steady growth throughout the forecast
period. These 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. 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.
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.
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Research Report of Global Forage Seed Market :
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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