The forage seeds market contributes significantly to the agricultural industry by providing high-quality seeds for the development of fodder crops. Forage seeds are mostly used in animal feed, which raises cow productivity and nutrition levels. These seeds often originate from a wide range of plant species, such as alfalfa, ryegrass, fescue, legumes, and clover.
The increased demand for animal products like meat, milk, and eggs has resulted in a steady growth in the market for forage seeds in recent years. Animal farmers are aware of the significance of using premium fodder seeds to optimize animal health, boost feed efficiency, and boost yields.
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Key Points Driving Market Growth:
- Economic Growth: Increased per capita income and a growing fondness for meat products in emerging economies are contributing to the upswing in forage seed sales globally.
- Urbanization and Lifestyle Shifts: The expansion of chain bars and the rise in the urban population are serving as catalysts propelling the growth of the global forage seeds industry.
- Premiumization Trend: Evolving consumer culture favors premium forage seeds, leading to the creation of new trends in the global market.
According to Future Market Insights, Inc. (FMI), the global forage seeds market is likely to be valued at US$ 12,132.9 million in 2023 and is anticipated to reach US$ 30,996.9 million by 2033. Overall forage sales are poised to surge at a CAGR of 9.8% from 2023 to 2033.
One significant aspect that is anticipated to propel the global forage seeds market rapidly during the forecast period is the growing demand for meat and poultry products worldwide.
The global forage seeds market is making significant strides, contributing substantially to the agricultural industry by providing high-quality seeds for the development of fodder crops. These seeds play a crucial role in animal feed, enhancing productivity and nutrition levels in livestock. The market is witnessing steady growth, driven by increased demand for animal products such as meat, milk, and eggs.
According to Future Market Insights (FMI), a leading market research firm, the global forage seeds market is projected to be valued at US$ 12,132.9 million in 2023, with an anticipated surge to US$ 30,996.9 million by 2033. The market is set to grow at an impressive Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period from 2023 to 2033.
Key Takeaways from the Report:
- Global forage seed sales are poised to surge at a CAGR of 9.8% during the forecast period.
- The alfalfa segment is expected to register a CAGR of 7.2% from 2023 to 2033.
- The cattle segment holds a prominent share of the global forage seeds market, projected to expand at a CAGR of 7.0%.
- The United States forage seeds market is forecast to reach a valuation of US$ 3,251.6 million by 2023.
- Germany’s forage seeds market is anticipated to expand at a 9.5% CAGR throughout the forecast period.
- Forage seed demand in India is slated to rise at an 8.1% CAGR between 2023 and 2033
Forage crops have become very popular in recent years, particularly in the cattle and poultry industries. They are being grown expressly to be used as animal feed or for cattle grazing. The foundation of sustainable agriculture is these crops.
Increasing consumption of meat products worldwide coupled with growing preferences towards natural and organic animal feeds is expected to generate high demand for forage seeds during the forecast period.
According to the Institute of Food Technologists (IFT), a new study has found that global meat consumption will surge by 1.4% per year through 2023. This in turn will positively influence forage seeds market.
Rising demand for organic products due to growing health consciousness among consumers is another key factor impacting the forage seeds industry. To meet consumer needs, forage seed-producing companies are trying to offer high-quality, organic forage seeds at lower costs for animal consumption.
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Subsequently, the preference for organic beef and livestock products, which have no antibiotics, and no growth-promoting hormones are increasing the demand for organic products. Regular red beef consumption can cause diseases such as cancer, cholesterol strokes, and heart disease. Owing to these factors, the leading forage product companies are also focusing on organic products such as beet pulp or hay for feeding livestock.
The introduction of new government regulations is also prompting manufacturers to choose forage seeds. The U.S. Food and Drug Administration modified its regulation to reduce the use of antibiotics used for growth enhancement.
Similarly, the use of antibiotics is banned in Europe, and this has created immense growth for other organic forage products and related products. Owing to this, more product differentiation through innovation is required to create market growth and increase the profitability of companies.
Nowadays, certification programs are widely utilized as the norm for seed quality control. The necessity to certify the identity of these varieties for buyers by conducting field inspections of the seed crop arose in the middle of the 20th century as a result of the growing number of varieties resulting from plant breeding initiatives.
These programs were frequently voluntary and created by manufacturers who intended to improve the reputation of their seeds in the marketplace. This was done in several nations, with the Crop Improvement Associations in the USA serving as a good example. Manufacturers who have the certification have a competitive advantage over the other manufacturers.
Key Factors Driving Market Growth:
- Meat and Poultry Demand: The escalating global demand for meat and poultry products is a significant driver propelling the rapid growth of the forage seeds market. As consumers worldwide seek high-quality animal products, the importance of forage crops in sustainable agriculture is gaining prominence.
- Health-Conscious Consumer Trends: Increasing awareness of health-conscious consumer trends is boosting the demand for organic animal feeds. The preference for organic beef and livestock products, free from antibiotics and growth-promoting hormones, is contributing to the rising demand for organic forage seeds.
- Government Regulations: The introduction of new government regulations, such as the reduction of antibiotics used for growth enhancement, is influencing manufacturers to opt for forage seeds. In regions like Europe, where the use of antibiotics is banned, the market for organic forage products is experiencing substantial growth.
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“Growing focus towards increasing meat production to meet the global demand will have a profound influence on forage seeds market during the projection period. Besides this, rising prevalence of deficiency diseases in livestock and high demand for natural animal feeds will boost forage seed sales,” says a lead analyst at Future Market Insights.
Competitive Landscape:
Leading players in the global forage seeds market include Allied Seed, LLC; BASF SE, Dow Agro Sciences LLC, S & W Seed Company, Germinal GB, Hancock Farm & Seed Co. Inc., Central Garden & Pet Company, Northstar Seed Ltd, Heritage Seed Company. These companies are adopting strategies such as product differentiation, innovation, and certification programs to gain a competitive edge in the market.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the forage seeds market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study provides compelling insights into the forage seeds market based on product type (alfalfa, clover, ryegrass, chicory) and livestock type (poultry, cattle, pork/swine) across several regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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