The global forage seed market size is projected to grow significantly owing to the growing inclination toward natural and organic animal feed, observes Fortune Business Insights™ in its report, titled “Forage Seed Market Size, Share & Industry Analysis, By Crop Type (Alfalfa, Clover, Ryegrass, Chicory, Others), By Application (Cattle, Poultry, Swine, Others) and Regional Forecast, 2022-2029”. Forage seeds, especially legumes, offer excellent quality and quantity of animal feed, increase nitrogen content in the soil, and decrease soil loss.
In addition, in November 2020, The Organic Center, organization for scientific reporting on agriculture and food, joined hands with the Foundation for Food and Agriculture Research in order to assist the research needs of farmers, scientific experts, and the industry members interested in funding the research. Organized research will result in increased knowledge about organic farming and further expansion of the organic sector in the agriculture space. This will further strengthen the demand for forage seeds.
Driving Factor
Rising Inclination toward Natural Animal Feed to Drive Market Growth
The growing awareness about the health of livestock among consumers, coupled with increasing demand for natural and organic animal feed, has increased the utilization of forage seeds in animal feed preparation. In addition, the increasing popularity of organic meat products has driven manufacturers to include forage seeds in animal feed preparation. For example, in February 2017, JBS Australia beganprocessing its first certified organic cattle in order to enter the organic cattle supply base in Australia. This will provide aggressive growth to the company’s production. These factors are expected to drive growth of the global forage seed market.
Regional Insights
Increasing Awareness Regarding Livestock Nutrition to Bolster Growth in North America
North America is predicted to experience robust growth in the global forage seed market. The increasing awareness regarding livestock nutrition in the region is driving manufacturers to produce high quality and healthy animal feed. For instance, in November 2020, Innovafeed and ADM collaborated with the State of Illinois in order to establish a new livestock feed production facility in Decatur. Such factors are expected to increase the demand for forage seeds in North America, which is predicted to drive the forage seed market within the region.
Competitive Landscape
Mergers and Acquisitions to Help Key Players Increase their Market Prominence
The global forage seed market consists of various manufacturers that are currently focusing on research and development activities in order to introduce their new portfolio of organic feeds. This will help them attract the emerging base of organic farmers. In addition, they are investing in mergers & acquisitions and new product launches to increase their market prominence. For instance, in February 2018, DLF, a Denmark-based forage seed producer and distributor, acquired the assets of Gapp Semillas S.A. This acquisition is expected to help DLF increase its market presence in Latin America.
Industry Development:
· In March 2018, KWS Saat S.E. introduced maize forage varieties. The new product comprises enhanced properties of maize such as improved yield, high kernel content, and improved dairy production by cows.
· In September 2016, Semillas Fitó, a Spanish company, signed an agreement with Valley Seeds to launch new forage seeds in Europe. This will help the company expand its product portfolio.
List of Key Players Covered in the Forage Seed Market Report:
· Dynamic Seeds Ltd.
· Foster Feed and Seed
· Golden Acre Seeds
· Allied Seed
· DLF International Seeds
· Pickseed Canada Ltd.
· Brett Young
· Land O Lakes Inc.
· Moore Seed Processors
· Barenbrug Holding B.V.
· Others
Browse Summary
https://www.fortunebusinessinsights.com/forage-seed-market-103208
