The global forage seed market is expected to expand over the forecast period, owing to the rising demand for forage seeds from agriculture and animal husbandry. The rising population of poultry, swine, and cattle for meat production is predicted to be a major contributor to market growth. Meat output in 2017 was estimated to be 262 million metric tonnes, an increase of 4 million metric tonnes over the previous year, according to UN figures.
Because Forage Seed Market is less expensive than most cereal crops, farmers are increasingly focusing on using it. Because of the benefits connected with its utilization, forage is often employed as a rotation crop. Less disease in subsequent cereal crops, higher yields in subsequent crops, improved soil quality, and reduced weed population, lowering the need for extra pesticide, fertilizer, and herbicide inputs in later crop cycles are just a few of the benefits.
Market Trends:
The amount and quality of meat, eggs, and milk produced by livestock is directly proportional to the nutrition given to them. High-quality fodder is becoming more popular in livestock production as people become more aware of the importance of nutritional intake in animals. These characteristics, together with a growing worldwide population and changes in food consumption habits, such as rising meat consumption in emerging nations like India, China, and Indonesia, are some of the primary reasons propelling the forage seed industry forward. According to the World Health Organization, increased disposable income is directly linked to meat consumption in emerging economies. Meat-eating is linked to a variety of health benefits, including higher protein and macronutrient intake.
Forage Seed Market - Market Taxonomy:
On the basis of product type, the forage seed market is segmented into:
Alfalfa
Clover
Chicory
Ryegrass
Others
On the basis of livestock, the forage seed market is segmented into:
Poultry
Ruminants
Swine
Others
Key Market Players:
Key strategies adopted by forage seeds players include mergers & acquisitions, product launches, partnership & agreement, and geographical expansion, in order to sustain in the competitive market. DLF— a Denmark-based forage seed supplier—acquired the assets of Gapp Semillas S.A. (Argentina), in February 2018, to increase its market presence in Latin America. In March 2018, KWS Saat S.E. launched maize forage varieties, with enhanced properties such as improved yield, high kernel content, and improved dairy production by cows on the consumption of the forage.
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