According to a new report published by Allied Market Research, titled, “Forage Seed Market,” The forage seed market was valued at $22,808.23 million in 2021, and is estimated to reach $44,186.14 million by 2031, growing at a CAGR of 7.02% from 2022 to 2031.
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 product type alfalfa accounted for the highest share of the forage seed market in terms of revenue. The demand for alfalfa is on the rise due to its use in treating cholesterol, asthma, osteoarthritis, rheumatoid arthritis, diabetes, upset stomach, and thrombocytopenic purpura. It is also a rich source of vitamins A, C, E, and K4 and minerals such as calcium, potassium, phosphorous, and iron. This in turn is expected to offer lucrative opportunities to the alfalfa market during the forecast period. Increase in need for healthy animals coupled with growth in demand for organic meat, eggs, and milk is estimated to boost the market during the forecast period.
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.
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Key Findings of the Study
By product type, the alfalfa segment was leading the global Forage Seed Market Size, owing to its high protein content and highly digestible fiber, and also for beef cattle, horses, sheep, and goats. Clover product type is also another leading segment for forage seed market as it is used to improve soil quality and reduce the need for artificial fertilizers.
By livestock, poultry segment dominated the global Forage Seed Market Forecast, owing to increasing demand for organic meat. The demand for livestock products in the future is expected to increase due to socio-economic factors such as human health concerns and changing socio-cultural values.
By species, legumes segment is the major category in terms of value; however, grasses segment is expected to be the fastest growing segment during the forecast period.
By region, North America led in terms of the forage seed industry share in 2021, and is expected to retain its dominance 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.
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