8 months ago

Forage Seed Market


REPORT DESCRIPTION Forage Market Outlook North America held the largest market share of the forage seed market, in terms of value in 2016. Market growth of this region is attributed to increasing demand for forage products, which is fuelled by the increasing livestock population for meat. According to the Department for Environment Food & Rural Affairs, animal feed production in the U.S. increased by 10% for sheep, 6.6% for cattle, and 3.7% for pigs in December 2017 compared to December 2016. According to the United Nations Food and Agriculture Organization, the total meat production in the U.S. and Canada for the year 2014 was pegged at 42.56 Mn Tons and 4.38 Mn Tons, respectively. Forage in the region is mostly utilized by landowners to help them manage soil fertility, grazing, and hay production in addition to brush & weed control in pastures and hay fields. Governments in the region are focusing on initiatives, in order to enhance production of alfalfa in the region. For instance, in February 2018, the U.S. Department of Agriculture’s (USDA) National Institute of Food and Agriculture (NIFA) invested US$ 2.1 million on R&D programs, which seek to improve alfalfa forage yield and adopt best practices pertaining to its cultivation. These programs are being organized under the Alfalfa and Forage Research Program (AFRP). According to European Seed Certification Agencies Association (ESCAA), the total area cultivated with forage seeds in Europe was 373,040 hectares in 2016, which was a 15% increase over the previous year. © Coherent market Insights. All Rights Reserved

REPORT DESCRIPTION The global forage seed market is anticipated to grow over the forecast period, owing to increasing demand for forage seeds from agriculture and animal rearing industries. Rising poultry, swine, and cattle population for meat production is expected to be a major factor contributing to market growth. According to data published by UN, in 2017, meat production was pegged at 262 million metric tons, which was an increase of 4 million metric tons over the previous year. Forage is relatively cheaper than most grain crops and therefore, farmers are increasingly focusing on adopting these. Forage is also used as a rotation crop, due to benefits associated with the use of these. The advantages include less disease in subsequent cereal crops, increased yields in subsequent crops, aid in improving soil quality, and reduces weed population thereby reducing the need for additional pesticide, fertilizers, and herbicide inputs in subsequent crop cycle. Major players in the global forage seeds market include DowDuPont Inc., Monsanto Company, Land O’ Lakes Inc., Advanta Seed Ltd., BrettYoung Seeds Ltd., Royal Barenbrug Group, Imperial Seed Ltd., Allied Seed LLC, and Ampac Seed Company. Request sample Copy of this Report: © Coherent market Insights. All Rights Reserved

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