Press release
Forage Market Projected to Reach USD 1,449.10 Million by 2034, Growing at a CAGR of 5.2%
The global forage market is set for substantial growth, with projections showing an increase from USD 875.17 million in 2024 to an estimated USD 1,449.10 million by 2034. This impressive growth is driven by a compound annual growth rate (CAGR) of 5.2% throughout the forecast period.
Forage is a plant material, primarily grasses, legumes, and other vegetation, that is used as feed for livestock, particularly herbivores such as cattle, sheep, and goats. It can be consumed fresh, dried, or preserved, providing essential nutrients for animals, especially those in grazing systems. Forage is a critical component of animal agriculture, supporting the health and productivity of livestock.
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Market Dynamics
Growing Livestock Industry
The global livestock industry is growing, especially in developing countries, as income levels rise and dietary preferences evolve. This growth is driving the demand for reliable, nutritious feed sources for cattle, poultry, and other livestock. As intensive farming practices increase, farmers are seeking higher-quality forages to support their animals year-round.
Increasing Focus on Sustainability
There is a growing focus on sustainable agricultural practices to address environmental degradation and climate change. Forage crops contribute significantly to sustainable farming by enhancing soil health, preventing erosion, and reducing the reliance on chemical inputs such as fertilizers.
Major Players
Top global corporations dominate the market by utilizing extensive research and development along with advanced techniques. Key players in the forage market include:
Allied Seed LLC
Cawood Scientific
Dodson & Horrell
Messy Feeds
RJ Hill Laboratories
Barenburg USA
Forage Genetics International LLC
Standlee Premium Products LLC
DLF Seeds A/S
Servi-Tech Inc.
Corteva Inc.
SGS S.A.
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Forage Market Developments
October 2024: Renovo Seed introduced its latest forage mix, OptiHarv, at the 2024 World Dairy Expo. This new blend is engineered to provide high-quality feed with flexible, season-long options for both grazing and harvesting.
December 2023: MAS Seeds unveiled its new MAS4 portfolio of cover crops and forage mixtures. Tailored for the French and Italian markets, the product line was officially launched during a dedicated press conference.
Market Segmentation
By Crop Type Outlook (Revenue USD Million, 2020-2034)
● Cereals
● Legumes
● Grasses
By Product Type Outlook (Revenue USD Million, 2020-2034)
● Stored Forage
● Fresh Forage
By Animal Type Outlook (Revenue USD Million, 2020-2034)
● Ruminants
● Swine
● Poultry
● Cattle
● Others
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Regional Analysis
In 2024, North America led the forage market, driven by the growth of the livestock industry. The rising demand for meat, dairy, and other animal-based products has boosted the need for high-quality forage to sustain livestock.
Asia Pacific is expected to capture a significant share during the forecast period, fueled by the growing demand for animal-based products such as milk, meat, and eggs.
By Regional Outlook (Revenue USD Million, 2020-2034)
● North America
○ US
○ Canada
● Europe
○ Germany
○ France
○ UK
○ Italy
○ Spain
○ Netherlands
○ Russia
○ Rest of Europe
● Asia Pacific
○ China
○ Japan
○ India
○ Malaysia
○ South Korea
○ Indonesia
○ Australia
○ Rest of Asia Pacific
● Middle East & Africa
○ Saudi Arabia
○ UAE
○ Israel
○ South Africa
○ Rest of Middle East & Africa
● Latin America
○ Mexico
○ Brazil
○ Argentina
○ Rest of Latin America
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