Transparency Market Research has published a new report on the global forage feed market. According to the report, the global forage feed market was valued at US$85 bn in 2013 and is predicted to reach US$162.8 bn by 2019. The report, titled ‘Forage Feed Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019’, states that the global forage feed market is predicted to expand at an 11.40% CAGR during the period from 2013 to 2019. In terms of volume, the global forage feed market is predicted to rise at a 9.20% CAGR during the forecast period.
Browse the full Forage Feed Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at https://www.transparencymarketresearch.com/forage-feed-market.html
As per the Food and Agriculture Organization of the United Nations, 26% of the global land area and 70% of the agricultural area is covered by grasslands, which fulfill the livelihoods of millions of people. Grasslands are the major source of goods such as forage and various kinds of food. The global forage feed market has expanded rapidly in the recent past due to factors such as an increase in global meat consumption, rising awareness about the benefits of forage feed, and a rise in production of farm animals.
Forage feed is the part of a plant that features the leaves and stem. Grazing animals generally feed on the forage feed to obtain nutrients. Leguminous plants and grass fall under this type of forage crops. Apart from feeding animals such as goats, sheep cattle, and buffalos, forage feed plants are also used to conserve land and prevent soil erosion. Rising livestock product consumption is one of the major factors expected to drive the global forage feed market during the forecast period. The global forage feed market is segmented on the basis of geography, product type, and livestock type. By product type, the global forage feed market is classified into fresh forage, stored forage, and others. In 2013, in terms of revenue, the storage forage feed segment dominated the global forage feed market, accounting for 41.5% of the market.
Based on livestock type, the global forage feed market is classified into poultry, cattle, pork/swine, aquaculture, and others. In 2013, in terms of revenue, the global forage feed market was dominated by the poultry livestock segment, which accounted for 33.1% of the market. In terms of revenue, the pork/swine livestock segment accounted for 29.1% of the market in 2013. By geography, the global forage feed market is divided into Europe, Asia Pacific, North America, and Rest of the World. In terms of revenue, the Asia Pacific market for forage feed led the global forage feed market in 2013, capturing 34.2% of the market. Europe, accounting for 28.1% of the market, was the second fastest growing region in 2013 and is expected to maintain its position by 2019. Asia Pacific is predicted to present many development opportunities for the forage feed market in the coming few years.
Leading players in the global forage feed market are expected to face competition from emerging companies in the near future. Some of the prominent companies operating in the global forage feed market are Standlee Hay Company, Inc., Baileys Horse Feeds, The Pure Feed Company Limited, J. Grennan and Sons, Triple Crown Nutrition, Inc., Cargill, Inc., and Semican Inc.
Key segments of Global Forage Feed Market
The global forage feed market according to product is segmented into:
- Stored forage
- Fresh forage
According to livestock-type, the report segments the market into:
Major geographies analyzed under this research report are:
- North America
- Rest of the World
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