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Forage Seed Market Expected to grow at a 8.50% CAGR by 2022 | Top Players are Allied Seed, LLC., Brett Young, BASF SE, Dynamic Seeds Ltd., Central Garden & Pet Company, Barenbrug Seed Company.

04-19-2019 11:03 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Allied Market Research

Forage Seed Market

Forage Seed Market

The increase in need for healthy animals, propelled by the growth in demand for meat, eggs, and milk is estimated to boost the market during the forecast period

The Global Forage Seed Market was valued at $11,683 million in 2015 and is projected to reach $20,646 million by 2022, growing at a CAGR of 8.50% from 2016 to 2022. In 2015, the alfalfa product segment held approximately more than one-fourth of the total market.

Forage seeds are the edible parts of plants widely utilized for livestock feeding. Alfalfa, clover, chicory, ryegrass, lablab, and fescue are some of the popular forage seeds in the global market. They are available at low price compared to other feeds, such as wheat bran and oil seed. These forage seeds are supplied to seed cultivators and conditioners for further processing and conditioning to get purified seeds with increased level of protein and energy.

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The demand for forage seed is majorly driven by its high nutrient content, which helps to improve lactation, reproduction, and health of livestock. In addition, forage seeds are widely used to enhance milk production globally. Economic benefits with cultivating forage seeds, which include improving soil health and business flexibility, are further expected to drive the forage seed market. Irregular seed germination cycle, lack of favorable government policies for cereal crops, and insufficient funding in forage research is expected to hamper the market. Forage seed production does not involve addition of synthetic fertilizers and pesticides for forage crop growth and protection. The meat of the animals that are fed on forage is healthier and helps avoid obesity, cholesterol, cancer, fats, and hypertension. Thus, the rise in demand for organic meat to maintain a healthy lifestyle creates future opportunities for the forage seed market.

In 2015, Asia-Pacific and Europe collectively accounted for more than half of the total forage seed market and are expected to continue this trend due to increase in demand for organic meat and other dairy products. Rise in urban population is the main reason for the growth of forage seed market in the Asia-Pacific region.

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The major Key players Are:

• Allied Seed, LLC.
• Brett Young
• BASF SE
• Dynamic Seeds Ltd.
• Central Garden & Pet Company
• Barenbrug Seed Company
• Northstar Seed Ltd.
• Hancock Farm & Seed Co. Inc.
• Fosters Seed and Feed Ltd.
• Dow AgroSciences, LLC.

The alfalfa seed segment accounted for the highest share in the global forage seed market in 2015. The demand for alfalfa is on an increase due to its use to cure cholesterol, asthma, osteoarthritis, rheumatoid arthritis, diabetes, upset stomach, and thrombocytopenic purpura. It is also a rich source of vitamins A, C, E, and K4 and minerals such as calcium, potassium, phosphorous, and iron. This increases the opportunities for alfalfa market during the forecast period.

Key Findings of Forage Seed Market:

• North America is projected to maintain its lead position throughout 2022 and grow at a CAGR of 7.58%, in terms of revenue.
• Poultry livestock segment occupied the highest share of the total market in 2015 and is anticipated to grow at a CAGR of 9.25% from 2016 to 2022.
• Asia-Pacific is anticipated to be the fastest growing region with a CAGR of 10.11% during the forecast period.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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