Forage Seed Market Growth by Top Key Players - DowDuPont Inc., Monsanto Company, Land O’ Lakes Inc., Advanta Seed Ltd., BrettYoung Seeds Ltd., Royal Barenbrug Group, Imperial Seed Ltd.

The global forage seed market is anticipated to grow over the forecast period, owing to increasing demand for forage seeds from agriculture and animal rearing industries. Rising poultry, swine, and cattle population for meat production is expected to be a major factor contributing to market growth. According to data published by UN, in 2017, meat production was pegged at 262 million metric tons, which was an increase of 4 million metric tons over the previous year.

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Forage is relatively cheaper than most grain crops and therefore, farmers are increasingly focusing on adopting these. Forage is also used as a rotation crop, due to benefits associated with the use of these. The advantages include less disease in subsequent cereal crops, increased yields in subsequent crops, aid in improving soil quality, and reduces weed population thereby reducing the need for additional pesticide, fertilizers, and herbicide inputs in subsequent crop cycle.

Market Dynamics:

The quantity and quality of meat, eggs, and milk from livestock is directly dependent upon the nutrition provided to the animals. With increasing awareness regarding nutrient intake of animals in animal rearing, high quality forage is gaining popularity in livestock rearing. These factors coupled with a growing global population, changes in food consumption habits such as increasing consumption of meat products in emerging economies such as India, China and Indonesia are some of the key factors driving growth of the forage seed market.

Market Outlook:

- North America held the largest market share of the forage seed market, in terms of value in 2016. Market growth of this region is attributed to increasing demand for forage products, which is fuelled by the increasing livestock population for meat. According to the Department for Environment Food & Rural Affairs, animal feed production in the U.S. increased by 10% for sheep, 6.6% for cattle, and 3.7% for pigs in December 2017 compared to December 2016.

- Asia Pacific is the fastest-growing region in the forage seeds market. China and India are the leading countries in the region, owing to increasing demand for meat products in the region. According to the Organization for Economic Co-operation and Development (OECD), China is the major producer of pork meat with around 31.3 kg/capita pork meat produced in 2016, followed by poultry and beef.

Key Market Players:

Major players in the global forage seeds market include 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.

Forage Seed Market - Market Taxonomy:

On the basis of product type, forage seed market is segmented into:

Alfalfa
Clover
Chicory
Ryegrass
Others

On the basis of livestock, forage seed market is segmented into:

Poultry
Ruminants
Swine
Others

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This release was published on openPR.