Pune, India, May 19, 2023 (GLOBE NEWSWIRE) -- The global forage seed market size is projected to grow significantly owing to the growing inclination toward natural and organic animal feed, observes Fortune Business Insights™ in its report, titled “Forage Seed Market Size, Share & Industry Analysis, and Regional Forecast, 2023-2030”. Forage seeds, especially legumes, offer excellent quality and quantity of animal feed, increase the nitrogen content in the soil, and decrease soil loss. They help growers earn additional income when intercropped with other crops such as cotton, sugarcane, and grain crops of maize and sorghum. Forages, such as moth bean and cowpea, help the primary crops eliminate root rot disease and control spotted bollworm. These factors are bolstering the demand for forage seeds in the agriculture sector, and strengthening the global forage seed market.
In addition, in November 2020, The Organic Center, an organization for scientific reporting on agriculture and food, joined hands with the Foundation for Food and Agriculture Research in order to assist the research needs of farmers, scientific experts, and industry members interested in funding the research. Organized research will result in increased knowledge about organic farming and further expansion of the organic sector in the agriculture space. This will further strengthen the demand for forage seeds.
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List of Key Players Covered in the Forage Seed Market Report:
- Dynamic Seeds Ltd.
- Foster Feed and Seed
- Golden Acre Seeds
- Allied Seed
- DLF International Seeds
- Pickseed Canada Ltd.
- Brett Young
- Land O Lakes Inc.
- Moore Seed Processors
- Barenbrug Holding B.V.
- Others
Report Scope and Segmentation-
| ATTRIBUTE | DETAILS |
| Forecast Period | 2023-2030 |
| Historical Data | 2019- 2021 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Forage Seed Market Growth Drivers | Rising Inclination towards Natural Animal Feed |
| High Preference for Feed Quantity over Feed Quality, |
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Highlights of the report:
The report comprises insights on the revenue generated by the key market players, which we have availed through secondary sources such as company websites, corporate filings, annual reports, and investor presentations. Our next step included tracking and analyzing the competitive developments of these players such as partnerships, mergers & acquisitions, new product launches, and research & development activities. We have also conducted extensive interviews with key industry experts, such as CEOs, VPs, directors, and executives. Top-down and bottom-up procedures were used to arrive at the overall size of the market.
Driving Factor
Rising Inclination Toward Natural Animal Feed to Drive Market Growth
The growing awareness about the health of livestock among consumers, coupled with increasing demand for natural and organic animal feed, has increased the utilization of forage seeds in animal feed preparation. In addition, the increasing popularity of organic meat products has driven manufacturers to include forage seeds in animal feed preparation. For example, in February 2017, JBS Australia began processing its first certified organic cattle in order to enter the organic cattle supply base in Australia. This will provide aggressive growth to the company’s production. These factors are expected to drive the growth of the global forage seed market.
The increasing consumption of meat and poultry worldwide is expected to drive the global forage seed market in the forecast timeframe. For instance, as per the Food and Agriculture Organization (FAO) of the United Nations, the global annual meat consumption per capita is set to reach 35.3 kg Retail Weight Equivalent (RWE) by 2025, which is an increase of 1.3 kg RWE in comparison to 2014. Growing consumption will lead to an increase in livestock, which will result in rising demand for animal feed. This increasing demand will further drive the growth of the forage seeds market.
Regional Insights
Increasing Awareness Regarding Livestock Nutrition to Bolster Growth in North America
North America is predicted to experience robust growth in the global forage seed market. The increasing awareness regarding livestock nutrition in the region is driving manufacturers to produce high-quality and healthy animal feed. For instance, in November 2020, Innovafeed and ADM collaborated with the State of Illinois in order to establish a new livestock feed production facility in Decatur. Such factors are expected to increase the demand for forage seeds in North America, which is predicted to drive the forage seed market within the region.
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Asia Pacific is anticipated to experience considerable growth owing to the constant financial growth, rising disposable income, and increasing awareness of the nutritional values of meat in the region. These factors are assumed to impact the demand for forage seeds in a positive manner, which is expected to enhance the growth of the forage seed market in the region.
Forage seeds are seeds that are used for planting crops that are grown specifically to feed livestock animals such as cows, sheep, and horses. These seeds are usually high in protein and other nutrients that are beneficial for the animals.
Common types of forage seeds include alfalfa, clover, ryegrass, fescue, timothy, and Bermuda grass. These seeds can be planted alone or in combination with each other, depending on the specific needs of the animals and the environment in which they are being grown.
Forage seeds are typically planted in the spring or fall and can be grown in a variety of soil types and climates. They require regular watering and fertilization to promote healthy growth and optimal yields.
Forage crops play a vital role in sustainable agriculture, as they provide a reliable source of food for livestock and help to maintain soil health and fertility. Additionally, forage crops can be used as a cover crop to prevent soil erosion and suppress weeds.
Competitive Landscape
Mergers and Acquisitions to Help Key Players Increase their Market Prominence
The global forage seed market consists of various manufacturers that are currently focusing on research and development activities in order to introduce their new portfolio of organic feeds. This will help them attract the emerging base of organic farmers. In addition, they are investing in mergers & acquisitions and new product launches to increase their market prominence. For instance, in February 2018, DLF, a Denmark-based forage seed producer and distributor, acquired the assets of Gapp Semillas S.A. This acquisition is expected to help DLF increase its market presence in Latin America.
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