WILMINGTON, DE, UNITED STATES, December 4, 2024 /EINPresswire.com/ -- The global forage seed market size 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.
Growing demand for forage feed and demand to improve soil health are the factors that drive the growth of the forage seed market globally. However, irregularity of seed cycle impedes the Forage Seed Industry growth.
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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 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.
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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