Forage Seed Market Analysis and Forecast with a CAGR of 7.02% (2022-2031)

The global forage seed industry generated $21.89 billion in 2020, and is anticipated to generate $44.18 billion by 2031, witnessing a CAGR of 7.02% from 2022 to 2031.

Organic meat and milk are richer in nutrients and minerals such as enzymes, antioxidants, and bioflavonoid, which is why, people prefer them over inorganic alternatives. This in turn, is driving the growth of the global forage seed market. However, natural calamities, such as droughts, floods, and frost create challenges in the production of forage feed, thereby restricting the market growth to some extent. In addition, irregular seed germination cycle, lack of favorable government policies for cereal crops, and insufficient funding in forage research restrain the market growth. On the other hand, surge in demand for increasing milk production worldwide creates lucrative opportunities in the market.

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Growing demand for forage feed and demand to improve soil health are the factors that drive the growth of the forage seed market globally. However, irregularity of seed cycle impedes the Forage Seed Industry growth.

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 a lower 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. The demand for forage seed is majorly driven by their 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 associated with cultivating forage seeds include improving soil health and business flexibility. These 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 are expected to hamper the market growth. Forage seed production does not involve addition of synthetic fertilizers and pesticides for growth and protection of forage crops. Forage-fed animals give healthier meat, and helps avoid obesity, cholesterol, cancer, fats, and hypertension. Thus, rise in demand for organic meat to maintain a healthy lifestyle creates lucrative opportunities for the forage seed market.

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The Forage Seed Market Analysis is segmented into product type, livestock, species and region. Based on product, the forage seed market is segmented into clover, chicory, ryegrass, alfalfa, and others. Based on livestock, the market is segmented into cattle, swine, poultry, and others. Based on species, the market is segmented into legumes and grasses. Furthermore, the Forage Seed Market Growth is segmented by region into North America, Europe Asia-Pacific, and LAMEA.

Based on region, North America held the highest market share in terms of revenue 2020, accounting for more than one-third of the global forage seed market, due to the well-established and advanced technologies adopted by the manufacturers in the region. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 7.9% from 2022 to 2031. This is attributed to increase in concerns of soil health among the farmers and growers.

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Leading Market Players: -

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

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