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FO_171900
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Pages: 110
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Jan 2017 | 2845 Views
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Author's :
Eswara Prasad
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Tables: 80
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Charts: 40
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Global forage seed market size is expected to reach $20,646 million by 2022 from $11,683 million in 2015 with a CAGR of 8.50% from 2016 to 2022. Increase in the demand for nutritional feeds for livestock can be satisfied through natural forage. Forage seeds are available at a lower price compared to other feeds, such as wheat bran and oil seed. Thus, growth in demand for forage feed used to feed livestock primarily drives the market. Forage seeds do not rely on synthetic fertilizers and pesticides, which help improve and maintain the soil quality. The economic benefits of cultivating forage seeds, such as crop rotation and risk diversification, further contribute to the growth of the forage seed market. Demand for organic foods is on an increase as there is a rise in the awareness for health consciousness among the people. The meat of animals feed on forage is healthier, which helps avoid obesity, cholesterol, cancer, fats, and hypertension. This is expected to create future opportunities for the forage seed market.
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Clover seeds segment was the largest contributor to the market in 2015, wherein it accounted for the highest market share in terms of revenue and is expected to maintain the highest market share growing at a CAGR of 8.10% during the forecast period. North America dominates the market and is anticipated to grow at a CAGR of 7.58% from 2016 to 2022.
The forage seed market is segmented into product, livestock, and geography. 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. Geographically, the market is segmented into North America, Europe Asia-Pacific, and LAMEA.
Top winning strategies
Leading players in the global forage seed market have adopted various strategies gathered from press releases, annual reports, and primary calls made to industry experts to achieve additional market share. Market players profiled in this report are forage seed manufacturers and distributors. Key strategies adopted by these players include merger & acquisition, product launch, partnership & agreement, and geographical expansion.
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New product launch accounted for 29% of the top strategies adopted by the key players. Acquisition & merger, agreements & partnerships and expansion accounted for 24% each, of the overall key strategies.
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At present, Alfalfa and clover have witnessed large-scale adoption of forage seed. This segment has high rate of adoption in the forage seed market due to increase in demand for organic food. The rapid growth of poultry is expected in subsequent years due to rise in demand for organic food. This application has the potential to generate high returns due to expected rise in adoption of forage seed. Increase in adoption of cattle and pork market is expected to rise with highest market share and is identified as one of the lucrative markets for investment.
LAMEA Review
Brazil has more than 200 million cattle and is one of the largest meat exporter country, representing 17% of the world market. The pasture areas in Brazil represent 75% of the agriculture area and annually 100,000 tons of forage seeds are marketed. Beef and milk cattle farmers adopt advanced technologies to get more kilograms of meat or liters of milk per hectare. Increase in demand for organic meat is further expected to boost the forage seed market during the forecast period.
Some of the major players operating in the global forage seed market 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., Foster’s Seed and Feed Ltd., and Dow AgroSciences, LLC.
The other key market players (not profiled in this report) in the value chain include S & W Seed Company, Germinal GB, Heritage Seed Company, Advanta Seed International, Brett Young, DLF International Seeds, Barenburg Seeds, USA, Golden Acre Seeds, Moore seed Processors, Pickseed Canada Ltd, Wolf seeds Inc., Barenburg Seeds, Blue River Hybrids Organic Seeds, Ampac Seed Company, and Canterbury Seeds.
Key Benefits for Stakeholders
Forage seed market witnessed a healthy rise in the demand over the past few years, owing to the cost effectiveness over other feeds such as wheat bran and oil seed. The rise in the awareness regarding the health benefits of forage seeds to livestock also adds significantly to the growth of this market. Increase in domestication of aquatic livestock is projected to pose the highest growth in the demand for forage seed during the forecast period. Â
North America attained a leading position in this market due to increase in health consciousness among people. This region provides lucrative opportunities for growth to global forage seed producers, owing to its huge potential to set up infrastructure plants and increase in demand of forage seed for organic meat.
Rise in urban population, increased disposable income coupled with growth in demand for meat, eggs milk, and other dairy products in the emerging economies, such as India and China are the few factors that have a positive impact on the forage seed market.
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