Forage Market on Track for USD 1,261.13 Million By 2032, Growing at a 5.0% CAGR

Forage Market

The global forage market was valued at USD 773.12 million in 2022 and is expected to grow to USD 1,261.13 million by 2032, exhibiting a CAGR of 5.0% between 2022 and 2030.

Market Definition

Forage Market refers to plants or crops that are required to act as fodder for livestock and provide necessary nutrients to herbivorous animals found on farmlands necessary to carry out daily heavy-duty tasks on the farms. Forage is usually divided into two types, namely fresh forage and stored forage. Examples of forage are hay and silage, which can be stored when fresh pasture is unavailable or due to seasonal changes. Incorporating the latest technologies in breeding techniques for growing forage crops, such as cereals and legumes, helps in the fortification of these crops, thereby increasing their nutrient density.

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Growth Drivers

• The rapidly increasing prevalence of several types of severe illnesses in livestock and rampant modernization globally, which results in fluctuating consumer preferences and a surge in demand for quality organic and natural forage, are among the major factors driving the market growth globally. Rising consumer focus on health in livestock and awareness regarding the negative impacts of substandard forage products on both health and the environment is causing growth potential for the market.

• The emergence of several technologies and improvements in forage seed genetics and an increasing number of government favorable reimbursement policies or programs, including subsidies and tax rebates, coupled with the rise in investments in the R&D sector to develop enhanced and improved products or manufacturing techniques, are some other factors influencing the demand and growth of the market.

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Competitive Insight

The market has the presence of both established players and new entrants. Some of the major players operating in the global forage market include:

• Allied Seed LLC
• Cawood Scientific
• Dairy Land Laboratories
• CVAS Forage Lab
• Eurofins Scientific
• Intertek Testing Laboratories
• Dodson & Horrell
• Messy Feeds
• RJ Hill Laboratories
• Barenburg USA
• Cargill Incorporated
• Forage Genetics International LLC
• Standlee Premium Products LLC
• DLF Seeds A/S
• Servi-Tech Inc.
• Corteva Inc.
• SGS S.A.

Segmental Analysis

• The forage market is segmented based on crop type, product type, animal type, and region
• Based on product type, the market is bifurcated into stored forage and fresh forage. The stored forage segment held the largest market share in 2022, which is mainly driven by rising demand for animal feed.
• By animal type, the market is divided into ruminants, swine, poultry, cattle, and others. The poultry segment is projected to grow during the forecast period, which is highly attributable to the rising product demand.

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Regional Overview

Regional analysis provides an examination of the key variables, including social, physical, and economic, in a regional context. It helps companies understand the needs and wants of their customers in target markets. Thus, stakeholders can make informed decisions about their products or service offerings. Also, regional analysis assists businesses in identifying regions with high growth potential and where they should focus their efforts. Furthermore, it can help stakeholders understand local conditions to analyze policy related to global change.

The key regions and sub-regions of the Forage Market covered in the research report are:
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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