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Technavio has published a new market research report on the global forage seed market from 2017-2021. (Graphic: Business Wire)
The report segments the global forage seed market by animal feed type (poultry feed, cattle feed, and swine feed) and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global forage seed market, according to Technavio food and beverage researchers:
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Increased demand for dairy products: a major market driver
Increased demand for dairy products is one of the major factors driving the global forage seed market. The consumption of dairy products is increasing worldwide, which is mainly due to the increasing awareness of the health benefits of milk and milk products. This factor, in turn, is benefitting the global forage seed market as farmers are choosing good quality forage seeds for cattle to produce high-quality milk. The driving force of the booming dairy industry is the consistent adoption of technology that aids in managing larger herds of cows for scalable profit. With time, more feed concentrates will also be used to support higher yields. Nutritious forage seeds like ryegrass, brassicas and chicory, and clover are used to improve the yield as well provide cattle with the right amount of nutrition.
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Americas: largest forage seed market
The growing demand for poultry products is the reason behind the rising need to provide the correct feed to poultry animals. With the increasing awareness of the importance of providing better feed and fodder to chickens, poultry farmers no more rely on commercial chicken feed and instead focus on feeding their chickens with a mixture of grains like clover and alfalfa seeds.
According to Akash Pandey, a lead analyst at Technavio for research on food, “Proper nutrition is required for poultry animals to produce fresh and healthy eggs and meat. Poultry farmers have now realized that the hens which are given access to pastures full of alfalfa and clover need less protein than those hens which are raised in confinement.”
Competitive vendor landscape
The global forage seed market is highly fragmented owing to the existence of numerous forage seeds growers, who are either farmers or plant breeders. The growing strategic alliances across the global forage seed market will further intensify the competition. Investments in R&D will lead to the development of new traits in forage seeds, crop protection products, and various other seed treatments. The Dow Chemical Company, DuPont, UPL, and Allied Seed are the key players in the market.
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