Forage Seed Market
Forage Seed Market (Product type - Alfalfa, Clover, Ryegrass, Chicory, and Others (Fescue and Lablab); Livestock - Poultry, Cattle, and Pork/Swine) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020
Press Release :
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.
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.
Global Forage Seed Market: Overview
The global seed forage market is predicted to witness steady growth owing to rising demand for forage crops for livestock feeding. The increasing awareness regarding the economic benefits such as prevention of soil erosion, risk diversification, improved soil structure, and crop rotation is booting the global demand for forage seeds. According to the report by Transparency Market Research (TMR), the valuation of global forage seed market was US$10.7 bn in 2014 and is anticipated to reach US$17.5 bn by the end of 2020, expanding at a CAGR of 8.40% between 2014 and 2020.
The report provides key insights into the global forage seed market by meticulously examining critical parameters of the market including the classifications, industry chain structure, technological developments, and applications. The report serves as an essential source of analysis and information regarding market dynamics, competitive landscape, and regional segmentation. The report pays due heed to the significance of the upstream raw materials supply chain and the downstream value chain to translate analysts’ observations into insights. The various statistics pertaining to the market have also been presented in pictorial and tabular forms for a lucid analysis.
Global Forage Seed Market: Drivers and Restraints
The growing population of livestock, especially genetically modified animals, is contributing to the growth of the global forage seed market. In addition, the increasing need for healthy animals, propelled by the rising demand for organic, dairy, and meat products, is likely to augment the growth of the market. Other factors such as the changing food habits and low prices of forage seeds are driving the market. However, the availability of substitutes is posing a threat to forage seeds manufacturers, thereby hindering the growth of the market.
Global Forage Seed Market: Geographical Segmentation
Geographically, the North America forage seed market will continue to dominate in terms of revenue throughout the forecast period. The growth of the region can be attributed to the rising demand for weed-free forage products and the increasing profitability of livestock farms and agricultural farms. Canada and the U.S. produce high-quality forage for both international and their respective domestic markets. These countries have about 36 million hectares of grasslands for the production of forage seeds and livestock grazing.
At present, Asia Pacific is a relatively smaller market for forage seeds as compared to other regions. According to a report by the Food and Agricultural Organization (FAO), due to the shortage of facilities in harvesting, processing, and transportation, the manufacturers in the emerging nations encounter difficulty of high-quality seed production and storage. This is further worsened by hot and humid tropical environment. However, with the rising awareness regarding the economic benefits of forage seeds and increasing demand for low-priced varieties such as alfalfa, fescue, and ryegrass, this market is anticipated to experience robust growth during the same period. Another factor fuelling the growth of the market is the growing livestock population in India and China.
Key Companies Mentioned in the Report
Countries such as the U.S., Brazil, Canada, China, France, India, and Ireland are anticipated to offer immense growth opportunities to the manufacturers. The leading companies in the global forage seed market are Allied Seed LLC, BASF S.E., Central Garden & Pet Company, Dow Agrosciences LLC, Hancock Farm & Seed Co., Heritage Seed Company, Germinal GB, Northstar Seed Ltd., and S&W Seed Company.
The global forage seed market has been segmented as follows:
Forage Seed Market, by Product
- Others (including lablab, fescue, etc.)
Forage Seed Market, by Livestock
- Others (including aquaculture, etc.)
Forage Seed Market, by Geography
- North America
- Asia Pacific
- Rest of the World (RoW)
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