Forage Seeds Market to Record a CAGR of 5.6% from 2022 to 2030

The scope of our recent study, titled "Forage Seeds Market Forecast to 2030 - COVID-19 Impact and Global Analysis - by Type, Category, and Livestock," includes the description of factors fueling the forage seeds market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with market share analysis.

The forage seeds market is expected to grow from US$ 12,757.00 million in 2022 to US$ 19,755.46 million by 2030; it is expected to record a CAGR of 5.6% from 2022 to 2030.

Germany has one of the most significant livestock industries in Europe. High consumption of raw and processed meat in the country influences the growth of the livestock industry in Germany, which leads to increased demand for animal feed. Swine feed is the largest segment in the German feed industry. As per the Alltech Global data, in 2020, the country produced 27.4 million tons of animal feed. This production rate is expected to increase during the forecast period due to rising cattle and other animal livestock in the country. Moreover, the increasing awareness about the nutritional requirements of animals and improvements in the diets of farm animals by livestock farmers propel the demand for forages across the country. These factors drive the forage seeds market in Germany.

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Based on type, the forage seeds market is segmented into [alfalfa, clover (white, red, hybrid, and others), ryegrass (annual ryegrass, perennial ryegrass, Italian ryegrass, and hybrid ryegrass), timothy, sorghum, brome, birdsfoot trefoil, cowpea, meadow fescue, and others]. The alfalfa segment held a significant market share in 2022; however, the ryegrass segment is projected to register the highest CAGR during the forecast period due to its shopping and product delivery convenience. Ryegrass is an excellent forage grass with high yield and high nutritional value. Ryegrass has high digestibility, making it suitable for all types of ruminants, such as dairy cows, sheep, goats, and beef cattle. Ryegrass has high seedling vigor and tolerance to frequent harvest. There are various types of ryegrasses, of which annual, perennial, Italian, and hybrid ryegrass are widely used for making hay, silage, and other forage types. The rising demand for ryegrass for forage due to its superior digestibility is driving the demand for ryegrass seeds.
 
Based on geography, the forage seeds market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). North America accounted for the largest share of the market. North America is one of the significant markets for forage seeds due to the increased demand for forage as feed, meat consumption, and weather conditions, as well as rising consumption of livestock products despite the rising prices, well-established animal feed, and agriculture industry. An increasing number of individuals opting for protein-rich and healthier products, growing disposable income, lifestyle changes, and eating patterns contribute to a surge in demand for protein-rich meat in the US, Canada, and Mexico. Thus, with the rising consumption of meat products, the demand for animal feed increases and further drives the market for forage seeds. The region accounts for one of the largest animal feed producers across the region. As per the report of Alltech Global, in 2020, the region produced more than 254 million metric tons of animal feed products. The mass production of animal feed in North America and the rising food safety concerns, especially about meat and dairy products, have led to the increased consumption of nutritional animal feed such as forages in the region.

Impact of COVID-19 Pandemic on Forage Seeds Market

The COVID-19 pandemic affected economies and industries in various countries. Lockdowns, travel bans, and business shutdowns in leading countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) negatively affected the growth of various industries, including the agriculture and animal feed industry. The shutdown of manufacturing units disturbed global supply chains, manufacturing activities, delivery schedules, and sales of various essential and non-essential products. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. In addition, the bans imposed by various governments in Europe, Asia, and North America on international travel forced the companies to put their collaboration and partnership plans on a temporary hold. All these factors hampered the animal feed industry in 2020 and early 2021, thereby restraining the growth of the forage seeds market.

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The report segments the forage seeds market as follows:

The forage seeds market is segmented into type, category, and livestock. Based on type, the market is segmented into [alfalfa, clover (white, red, hybrid, and others), ryegrass (annual ryegrass, perennial ryegrass, Italian ryegrass, and hybrid ryegrass), timothy, sorghum, brome, birdsfoot trefoil, cowpea, meadow fescue, and others].

Based on category, the market is segmented into organic and conventional. Based on livestock, the forage seeds market is segmented into ruminants, poultry, swine, and others. By geography, the forage seeds market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM).

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