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 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 illness in following cereal harvests, better yields in later crops, and assistance are only a few of the benefits.
Market Trends:
The amount and quality of meat, eggs, and milk produced by livestock are 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 Forage Seed Market 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.
Market Predictions:
In terms of value, North America had the highest share of the forage seed market in 2016. The increasing need for fodder products, which is fueled by the growing livestock population for meat, is credited with driving market expansion in this region. In December 2017, animal feed production in the United States climbed by 10% for sheep, 6.6 percent for cattle, and 3.7 percent for pigs, according to the Department for Environment, Food, and Rural Affairs.
Players in the Market:
Mergers and acquisitions, product introductions, collaboration and agreement, and geographic expansion are some of the key methods used by forage seeds companies to stay competitive in the market. In February 2018, DLF, a Danish forage seed producer, acquired the assets of Gapp Semillas S.A. (Argentina) to expand its market presence in Latin America. KWS Saat S.E. released maize forage types in March 2018 with better features such as increased yield, higher kernel content, and increased dairy production by cows when fed the forage.
Players in the Market:
Mergers and acquisitions, product introductions, collaboration and agreement, and geographic expansion are some of the key methods used by forage seeds companies to stay competitive in the market. In February 2018, DLF, a Danish forage seed producer, acquired the assets of Gapp Semillas S.A. (Argentina) to expand its market presence in Latin America. KWS Saat S.E. released maize forage types in March 2018 with better features such as increased yield, higher kernel content, and increased dairy production by cows when fed the forage.
DowDuPont Inc., Monsanto Company, Land O' Lakes Inc., Advanta Seed Ltd., BrettYoung Seeds Ltd., Royal Barenbrug Group, Imperial Seed Ltd., Allied Seed LLC, and Ampac Seed Company are all major competitors in the worldwide forage seeds industry.
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