Transparency Market
Research has published a new market report titled “Global Forage
Seed Market - Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2014 - 2020.” According to the report, Global
Forage Seed Market
is valued at USD 10,789.3 million in 2014 and is expected to reach
USD 17508.5 million by 2020, growing at a CAGR of 8.4% from 2014 to
2020. In North America, the U.S. is an attractive market for forage
seeds in 2014 and is expected to become the most lucrative market for
these products by 2020. North America is the major market for forage
seed, followed by Europe and Asia Pacific.
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.
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.
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PDF file of Global Forage Seed Market :
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.
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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