Forage Seeds Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1298
Forage Seeds Market size is mainly driven by increase in disposable income, breed cattle demand for forage, changing food habits, low price of forage seeds and low cattle productivity market over forecast period.
Rising product demand from livestock along with increasing awareness towards animal health & feed quality will drive forage seed market size. Rapid industrialization has directed to upsurge in meat production and consumption in China. As per recent statistics, the average Chinese person consumes 60 kg of meat per year.
Increase in demand for animal fodder owning to rising livestock population, government subsidiaries and reduction of animal grazing land are major factors driving forage seeds market size. Additionally, farmers prefer these seeds cultivation due to its economic benefits including, risk diversification, crop rotation, prevents soil erosion and improved soil structure.
Herbage seeds are plants or parts of plants other than grains which are used for feeding livestock cattle, poultry, aquaculture and swine animals. The product offers several advantages which includes reduced weed population, increased yield and less disease in successive crops, greater and deeper carbon impounding for greenhouse gas reduction, better internal drainage and water filtration.
The major restraints for forage seeds market are reluctance of farmers to pay for high quality seeds, time consuming cultivation, uncertainty of production and requirement of large investment. Other factors which hinders the growth of forage seeds market includes, availability of substitutes including fibrous co-products, soybean hulls and corn gluten feed. In addition, changing climatic and soil conditions and growing of weeds reducing fodder seed yield will hamper the production of forage seeds market size.
The product can be organic or inorganic existing in two forms green and dry. It is of four types named, chicory, ryegrass, alfalfa and clover. Alfalfa dominates the forage seeds market due to its presence of different vitamins in high quantity, better quality & yield, and content of digestible fiber and protein (around 20% crude protein). The product is used in two ways including, stored and fresh fodder. The stored fodder has two types which include silage and hay.
These seeds are extracted from three distinct species named, grasses, cereals and legumes. Grasses include natural grasses for pasture, grazing and hay crops which is projected to be the highest growing segment owing to its long lived recurrent nature, wide adaptability and key importance in mixed agricultural system. The product is used for feeding poultry, cattle and swine/pork.
Asia-Pacific, dominated by India and China holds the largest market share for forage seeds market owing to continuous support from government, growth in livestock productivity, increasing demand for animal feed, national and international support from government. Europe holds a major share in forage seeds market due to its application in commercially grown crop lands and high demand of grass leading to regional market growth.
North American forage seeds market, led by the U.S. and Canada is expected to experience significant market growth. Major factors responsible for this enhancement are increasing demand for weed free herbage products, profitability of livestock and agricultural farms. Further, the availability of large hectares of grassland for fodder crop production and livestock grazing will boost forage seeds market growth.
The market is fragmented due to presence of local small scale manufacturers. Some of major industry participants are Allied Seed, Dynamic seeds, Brett Young, Golden Acre Seeds, Moore Seed Processors, pick seed Canada, Foster Feed and Seed, Dow Agro Sciences LLC, E.I. du Pont de Nemours and Company, Advanta Seed, Monsanto, Land O’ Lakes, Barenbrug Holding B.V, AMPAC Seed Company and Imperial Seed. A lot of innovation and technical improvement is being carried out by the players to improve product quality.
The forage seeds market is foreseeing a lot of mergers & acquisitions recently. In August 2016, Land O’ Lakes, a U.S. based company providing agricultural products, foodservice, animal feed and nutrition acquired all the outstanding capital stock of Ceres, a seed company marketing its products under the brand name “Blade”. The transaction will help Land O’ Lakes to bring new forage traits and become a holistic herbage provider to its customers.
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