Global Forage Seeds Market Size, Share, And Growth Analysis For 2024-2033
Forage Seeds Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The forage seeds market has experienced significant growth in recent years. It is projected to increase from $16.79 billion in 2023 to $18.38 billion in 2024, representing a compound annual growth rate (CAGR) of 9.5%. Factors contributing to this growth during the historical period include the expansion of the livestock and dairy industries, rising silage production, efforts in environmental conservation, government support and subsidies, as well as improvements in animal health and performance.
What Is the Projected Market Size of the Global Forage Seeds Market2 and Its Growth Rate?
The forage seeds market is anticipated to experience robust growth in the coming years. It is projected to reach $26.46 billion by 2028, reflecting a compound annual growth rate (CAGR) of 9.5%. This growth during the forecast period is driven by factors such as global population increase, higher affluence and protein consumption, the development of climate-resilient varieties, the adoption of water-efficient forage crops, and expanded international trade opportunities.
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What are the Key Drivers Fueling Growth in the Forage Seeds Market?
The increasing demand for organic products is likely to drive the growth of the forage seeds market in the upcoming years. Organic products are defined as agricultural or food items produced, processed, and managed in accordance with specific standards established by organic farming and certification bodies. Forage seeds play a crucial role in organic agriculture, as they offer a sustainable food source for livestock, enhance soil health, and assist in weed and pest management.
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Who Are the Key Players Driving Growth in the Forage Seeds Market?
Key players in the market include 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.
What Are The Emerging Trends Shaping The Growth Of The Forage Seeds Market?
Key companies in the forage seeds market are focusing on creating innovative solutions, including forage seeds based on alfalfa technologies. Alfalfa technology encompasses techniques and tools aimed at improving the growth, yield, quality, and overall efficiency of alfalfa cultivation.
What Are the Segments of the Global Forage Seeds Market?
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
Geographic Overview: North America at the Helm of the Forage Seeds Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is The Forage Seeds Market Defined?
A forage seed is defined as a seed cultivated for planting turf and lawns, as well as for distribution to farmers who use it to establish pastures and hay fields. Forage encompasses edible plant parts, excluding separated grains, that serve as feed for grazing animals and play a vital role in crop diversification, wildlife habitats, and soil ecosystem services, which are essential for the beef cattle industry.
The Forage Seeds Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Forage Seeds Market3 Report: Trends, Opportunities, Strategies, and More
The Forage Seeds Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into forage seeds market size, forage seeds market drivers and trends, forage seeds competitors' revenues, and forage seeds market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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