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Tree legumes provides various advantages in agriculture and forestry such as forage for animal production, fuel wood and timber production and many more
HYDERABAD, TELANGANA, INDIA, November 15, 2022 /einpresswire.com / -- IndustryARC, in its latest report, predicts that the global forage seed market size is estimated to reach $17,950 million by 2026, growing at a CAGR of 7.8% over 2021-2026. Forage is a kind of plant that is mostly used by the dairy farmers for feeding animals. There are various types of forage plants such as chicory, ryegrass, alfalfa, timothy, clover, bent grass and many more. Silage is the final product of forage seed when it is conserved and stored. Forage seeds are also available in low cost than any other feeds such as wheat bran and oil seed.
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Key takeaways:
This IndustryARC report on the Global Forage Seed Market highlights the following areas -
1. In 2020, North America dominated the Global Forage Seed Market owing to growing consumption of dairy products and rising preference towards organic feed among consumers, thereby increasing the demand of forage seeds. Moreover, reduction of land for feeding animals increases the production of alfalfa which in turn driving the growth of Global Forage Seed Market.
2. Rising awareness towards livestock health among people and increasing demand of meat and meat products are enhancing the growth of the Global Forage Seed Market.
3. Detailed analysis of the Strength, Weakness, and Opportunities of the prominent manufacturers operating in the market will be provided in the Global Forage Seed Market report.
4. Rising hesitation among farmers to pay for high quality crops is set to create hurdles for the Global Forage Seed Market.
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Segmental Analysis:
Global Forage Seed Segment Analysis – By Product Type : The Global Forage Seed Market based on Product Type can be further segmented into Alfalfa, Clover, Ryegrass, Chicory, and Others. The Alfalfa segment is the major segment generating revenue in 2020. This is mainly owing to its various properties such as high yield, extensive adaptation, disease resistance, and excellent feeding quality.
Global Forage Seed Segment Analysis – By Livestock : The Global Forage Seed Market based on Livestock can be further segmented into Cattle, Swine, Poultry, and Others. The Cattle segment registers for the highest Global Forage Seed market share in 2020.
Global Forage Seed Segment Analysis – By Geography : North America dominated the Global Forage Seed Market with major share of 45% in 2020. This is owing to growing consumption of dairy products and rising preference towards organic feed among consumers and increasing the demand of forage seeds. Moreover, reduction of land for feeding animals increases the production of alfalfa which in turn driving the growth of Global Forage Seed Market.
Competitive Landscape:
The top 5 players in the Global Forage Seed Industry are -
1. Allied Seed, LLC.
2. Brett Young
3. BASF SE
4. Dynamic Seeds Ltd.
5. Central Garden & Pet Company
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