According to the report, global forage seed market is valued at USD 10,789.3 million in 2014 and is expected to reach USD 17508.5 million by 2020, growing at a CAGR of 8.4% from 2014 to 2020. In North America, the U.S. is an attractive market for forage seeds in 2014 and is expected to become the most lucrative market for these products by 2020. North America is the major market for forage seed, followed by Europe and Asia Pacific.
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Low price of forage seeds are creating a positive impact on the demand for forage seeds that are used for feeding livestock. Furthermore, the economic benefits such as prevention of soil erosion, improve soil structure, crop rotation among others that are caused from cultivation of forage seeds also helps to increase the demand for the same. Changing food habits and rising demand for dairy products and meat products is expected to boost the demand for livestock. Therefore, livestock farmers are focusing on providing good forages to livestock to increase the production level. Owing to these factors, the demand for forage seed is expected to increase over the forecast period.
At present Asia Pacific is comparatively smaller market as compared to other developed regions. However, this market is expected to experience a robust growth during the forecast period. Emerging countries such as France, Ireland, China, India, and Brazil among others are the fast growing markets for forage seed.
Geographically, the U.S. in North America is expected to experience strong growth in the forecast period, while France in Europe and China in Asia Pacific are expected to witness sluggish growth as compared to other countries in terms of usages of forage seed as livestock feed. The U.S. market accounted for the largest share of the forage seed in North America in 2014, followed by France in Europe. China in Asia Pacific is anticipated to continue its dominance in the global forage seed market till 2020.
By product type, the forage seed market has been segmented into – alfalfa, clover, ryegrass, chicory and others including lablab and fescue among others. Alfalfa seed is the largest segment followed by clover and ryegrass in 2014. The increasing demand for forage feed is expected to boost the demand for Alfalfa seed throughout the forecast period. However, clover and ryegrass seed are also contributing to the growth of forage seed market. The forage seed market is also segmented by livestock type, namely poultry, cattle, pork/swine and others (including aquaculture). In forage seed market, poultry is one of the major segments generating a major portion of total revenue. Others livestock segment including aquaculture in overall forage seed market is the fastest growing livestock segment, growing at a CAGR of 11.9% throughout the forecast period.
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The forage seed market has been segmented as follows:
Global Forage Seed Market has been segmented as follows
Forage seed market, by product type market size and forecast, 2013 - 2020
Products type covered under this research study include:
- Alfalfa
- Clover
- Ryegrass
- Chicory
- Others (Including lablab, fescue etc)
Forage seed market, by livestock type market size and forecast, 2013 - 2020
Livestock type covered under this research study includes:
- Poultry
- Cattle
- Pork/Swine
- Others (Including aquaculture etc)
In addition, the report provides a geographic analysis of all the above mentioned segments:
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
