A forage seed refers to a seed that is raised for the purpose of planting turf and lawns as well as for sale to farmers who use the seed to plant pastures and hay fields. Forage refers to edible plant components, besides separated grains, that serve as forages or as feed for grazing animals and also contribute to crop diversification, wildlife habitat, and soil ecosystem services that are crucial to the beef cattle sector.
Sizing and Forecast
The forage seeds market size has grown strongly in recent years. It will grow from $16.79 billion in 2023 to $18.38 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to livestock and dairy industry growth, expanding silage production, environmental conservation, government support and subsidies, animal health and performance.
The forage seeds market size is expected to see strong growth in the next few years. It will grow to $26.46 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to global population growth, rising affluence and protein consumption, climate-resilient varieties, water-efficient forage crops, international trade opportunities. Major trends in the forecast period include drought-resistant forage varieties, legume forage varieties, biotechnology for trait improvement, forage mixtures for biodiversity, disease and pest resistance in forage crops.
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Segmentation & Regional Insights
The forage seeds market covered in this report is segmented –
1) By Type: Alfalfa, Clover, Ryegrass, Chicory
2) By Live Stock: Cattle, Swine, Poultry, Ruminant
3) By Origin: Organic, Inorganic
4) By Species: Legumes, Grasses
North America was the largest region in the forage seeds market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the forage seeds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in livestock population is expected to propel the growth of the forage seeds market over the coming years. Livestock is domesticated terrestrial animals that are raised for a variety of commodities and services such as traction, meat, milk, eggs, skins, fibers, and feathers. Forage crops are high in vitamins, fiber, and proteins, which help animals’ metabolic efficiency. Mineral-rich forage crops aid bone growth, eggshell creation, fluid balance, and hormone generation in chickens. For instance, in September 2021, according to the Livestock and Products report shared by the USDA Foreign Agricultural Service, a US-based foreign affairs agency, the number of cattle in India’s national herd is predicted to increase by 1.2 million head from the 2021 total to 306.7 million in 2022. Because dairy animals have had significant reproductive success, there has been an increase in the herd’s size. This is attributable to a robust calf crop. Therefore, the increasing livestock population will drive the growth of the forage seeds market.
Key Industry Players
Major companies operating in the forage seeds market report are BASF SE, Dow AgroSciences LLC, Land O’Lakes Inc., Monsanto Company, Foster’s Seed and Feed, DLF Seeds A/S, Advanta Seeds Pty Ltd., AgReliant Genetics LLC, Seedway LLC, Blue River Hybrids, Brett-Young Seeds Limited, Pasture Genetics Pty Ltd., S&W Seed Company, Johnston Seed Company, La Crosse Seed, Germinal GB Limited, Forage First Ltd., Mountain View Seeds, Allied Seed LLC, Barenbrug Holding B.V, Heritage Seeds Private Limited, Northstar Seed Ltd., Pickseed Canada Inc., Landmark Seeds Ltd., Grassland Oregon Inc., Kings Agriseeds Inc., Green Valley Seed LLC, Imperial Seed Ltd., Prairie Creek Seed, Wolf Seeds do Brasil Ltd.
The forage seeds market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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