Global Forage Feed Market: Snapshot 

The forage feed market has been displaying significant growth over the past couple of years. This is due to surging meat consumption globally, expansion of farm animal production, and increasing practices of administering forage feed to animals for their nutritional content. 

The cultivation of forage crops has environmental benefits as well. It contributes to food crop production by conserving soil, protects the environment from pollution, and helps revegetate degraded land. Forage feed is also used for their protein content in medical and pharmaceutical products. 

Almost 26% of the world’s land and 70% of world’s agricultural land is covered by grasslands, as per statistics from the UN Food and Agriculture Organization. This provides livelihood to millions of people for livestock rearing for milk, meat, wool, hides, eggs, and animal power. Forage crops are broadly classified as temporary meadows, permanent meadows, annual crops, and crops. Permanent meadows involve land to be used for five years or more. They mainly grow perennial legumes and grasses. Temporary meadows involve the land to be used for a period of fewer than five years for growing forage. Annual crops are high-yield grains such as wheat, maize, and sorghum. 

However, the high cost factor of forage feed is leading consumers to lookout for cheaper substitutes. For example, in the U.S., in 2013, the consumption of distillers grains was registered to be much higher over forage feed due to its economical cost factor. Furthermore, lack of funding for forage research is also restraining the market’s growth. Nevertheless, with surging product innovations, the forage feed market is expected to be benefitted. 

The global forage feed market was valued at US$85.06 bn in 2013. Expanding at a CAGR of 11.4% between 2013 and 2019, the market is forecast to be worth US$162.87 bn by the end of 2019. 

Rising Disposable Incomes Secure Asia Pacific’s Lead Position in Market

Amongst all regional markets, Asia Pacific held a share of more than 30% in the global market in 2013. The region is anticipated to retain its dominant position over the coming years. The growth of the Asia Pacific forage feed market is driven by growing population, rising disposable income leading to increasing buy of livestock products, and progressive urbanization in the region. 

Europe holds almost 30% share in the global forage feed market. North America and Rest of the World regions account for remaining share of the overall market. 

Cattle Livestock Segment to Display Significant Revenue Contribution to Market in Future 

In terms of product type, the market can be classified as stored forage, fresh storage, and others. In 2013, stored forage dominated accounting for 41.51% of the overall market. Stored forage is harvested as hay and stored and packed in plastic bags.

On the basis of livestock, in 2013, the forage feed market was dominated by poultry accounting for 33.1% of the overall market. The segment was closely trailed by pork/swine that held almost 29% of the market in the same year. Cattle currently accounts for a lower market share, however, the segment is expected to display robust growth in the coming years due to the increasing cattle production for milk, transportation, beef, and leather. 

Some of the leading players in the global forage feed market are Triple Crown Nutrition Inc., Cargill Incorporated, Semican Inc., J. Grennan and Sons, Standlee Hay Company Inc., Baileys Horse Feeds, and The Pure Feed Company Limited, ADM Allinace Nutrition Inc., BASF SE, Chaffhaye Inc., Brett Young Seeds, and NWF Agriculture Ltd.

According to the Food and Agriculture Organization of the United Nations, around 26% of the world’s land area and about 70% of the agricultural area is covered by grasslands, which contribute to the livelihoods of millions. Grasslands are a source of goods such as food and forage. The global forage feed market has been experiencing significant expansion over the years. This can be attributed to the surge in global meat consumption, growth in farm animal production, and increasing awareness about the health benefits of forage feed in animals.
The research report maps all the important aspects of the forage feed market. It covers prominent market trends, market projections, retail distribution, forage feed companies data in terms of volume and value. Furthermore, the report presents a snapshot of the most significant product innovations in the forage feed market that will influence the market during the forecast period of 2013 to 2019.
Overview of the global forage feed market
Forage feed is that part of a plant that features the stem and leaves. Grazing animals typically feed on this part to obtain nutrients. Grass and leguminous plant varieties fall under the category of forage crops. Besides feeding foraging animals such as sheep cattle, goats, and buffalos, these are also used to conserve land and to prevent soil erosion. The report states that the global forage feed market is anticipated to grow at an 11.4% CAGR in terms of revenue and at a 9.2% CAGR in terms of volume during the forecast period.
By product-type, the global forage feed market is classified into storage forage, fresh forage, and others. The main types of livestock covered in the forage feed market are poultry, cattle, port or swine, aquaculture, and others. 
Storage forage feed dominated the global market of forage feed and contributed to 41.5% market share in 2013. The poultry livestock sector is the second-leading livestock segment in terms of revenue and accounted for a market share of 33.1% in 2013. The poultry segment was followed by pork/swine sector, which generated 29.1% market revenue in 2013.
Geographically, Asia Pacific is the leading regional forage feed market with a 34.2% share of the total revenue in 2013. China, Japan, and India are pushing forward the Asia-Pacific market and the region will experience an 11.8% CAGR during the forecast period. The next important regional market in 2013 was Europe with a 28.1% market share. Though several sectors in the global forage feed market promise good growth in the coming few years, the market will be suppressed by inadequate funding for research compounded by a greater demand for substitutes.
Companies mentioned in the research report 
The global forage feed market is dominated a few key players. These include: Standlee Hay Company, Inc., Triple Crown Nutrition, Inc., Baileys Horse Feeds, Cargill, Incorporated, The Pure Feed Company Limited, Semican Inc., and J. Grennan and Sons.
The global forage feed market according to product is segmented into:
  • Stored forage
  • Fresh forage
  • Others
According to livestock-type, the report segments the market into:
  • Poultry
  • Cattle
  • Pork/Swine
  • Aquaculture
  • Others
Major geographies analyzed under this research report are: 
  • Europe
  • North America 
  • Asia-Pacific 
  • Rest of the World 
This report gives you access to decisive data such as:
  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 
Key highlights of this report
  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements 
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments

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Forage Feed Market

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