UK markets close in 2 hours 58 minutes
  • FTSE 100

    7,789.09
    +17.39 (+0.22%)
     
  • FTSE 250

    19,995.29
    +141.84 (+0.71%)
     
  • AIM

    874.67
    +6.85 (+0.79%)
     
  • GBP/EUR

    1.1316
    -0.0023 (-0.20%)
     
  • GBP/USD

    1.2339
    +0.0022 (+0.18%)
     
  • BTC-GBP

    18,738.99
    +75.70 (+0.41%)
     
  • CMC Crypto 200

    523.80
    +5.00 (+0.96%)
     
  • S&P 500

    4,076.60
    +58.83 (+1.46%)
     
  • DOW

    34,086.04
    +368.95 (+1.09%)
     
  • CRUDE OIL

    79.41
    +0.54 (+0.68%)
     
  • GOLD FUTURES

    1,948.40
    +3.10 (+0.16%)
     
  • NIKKEI 225

    27,346.88
    +19.77 (+0.07%)
     
  • HANG SENG

    22,072.18
    +229.85 (+1.05%)
     
  • DAX

    15,187.61
    +59.34 (+0.39%)
     
  • CAC 40

    7,099.87
    +17.45 (+0.25%)
     

Global Forage Seed Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

ReportLinker
ReportLinker

The Global Forage Seed Market is projected to register a CAGR of 4.71%. Key Highlights. Largest Segment by Crop - Forage Corn : Forage corn witnessed a higher share due to increased demand for corn fodder, hay, and silage which is easily digestible by livestock and provides adequate nutrition.

New York, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Forage Seed Market - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028" - https://www.reportlinker.com/p06381361/?utm_source=GNW

Largest Segment by Country - United States : The United States forage market has increased due to factors such as the increasing livestock population in the country, and high demand from the dairy and meat industry.
Fastest-growing Segment by Crop - Forage Corn : The increasing demand for forage corn is due to the development of dual-purpose varieties, preference for corn silage, and availability of highly nutritious varieties.
Fastest-growing Segment by Country - Italy : Italy is having a high demand for Forage Cropss due to the high demand for better-quality meat, increasing cattle population, and awareness about quality feed among farmers.

Forage Seed Market Trends

Hybrids is the largest segment by Breeding Technology.

The livestock population is increasing across the regions. The increase in livestock population needs an expansion of the area under forages and demands the use of varieties with high yield potential and a high feed value. This is one of the major factors leading to the growth of the hybrid and open-pollinated seed market.
Major companies are investing in making seed quality better due to the rise in demand. For instance, in 2021, DLF Seeds, the world’s leading grass seed breeder, invested USD 4.6 million in new state-of-the-art mixing and distribution facilities. The investment will transform their current production facilities of OPVs and the hybrid seed of forage and bring much-needed additional capacity and efficiency to cope with the future market demands in the amenity, consumer, and environmental stewardship in the forage seed market.

The hybrid seed segment dominates the market due to the increase in adoption because of increasing awareness about its benefits. The hybrid seed market share value is expected to increase by 6% from 2021 to 2022 due to the rise in the seed replacement rate and the availability of improved varieties in the market.
The farmer’s preference for transgenic varieties is slowly rising in various forage-growing regions due to the increase in crop losses by weeds and diseases. The share value of the transgenic segment increased by 2% in 2021 from the previous year.
The Asia-Pacific forage seed market using OPVs seeds is expected to be the fastest growing, at a CAGR of 4.6%, from 2022 to 2028 because open-pollinated varieties require fewer inputs, such as fertilizer and pesticides, and are less expensive and more affordable for small holding and low-income farmers.

North America is the largest segment by Region.

Globally, the North American region holds a major share, accounting for 38% of the global forage seeds market in terms of value in 2021 due to the increase in the demand for forage as feed, an increase in meat consumption, and weather conditions. In North America, the United States has the largest forage seed market, accounting for 41% of North America’s forage seed market due to the high demand for forage as feed and the increase in the cattle population in the country.
In 2021, Europe was the primary producer of forages. It contributed 33.1% to the global forage seed market. The increase in livestock production and consumption is driving the forage market in the region. Germany is the largest producer of forage corn in Europe, with a market share value of 23% in the global forage corn seed market.
In the Asia-Pacific region, India has the largest forage seed market, and it accounted for 30% of the Asia-Pacific forage seed market in terms of value in 2021. Forage Sorghum is leading in the forage seed segments, accounting for a 9% global market share in 2021.

In 2021, South America had a market share of 9% of the global forage seed market. Alfalfa is the major forage crop grown in South America, which is associated with the availability of GM hybrids that are herbicide-resistant and tolerant to water stress and high lignin content for better digestibility, driving the transgenic alfalfa seed market at a CAGR of 8% in South America.

Therefore, owing to increasing demand due to the increased livestock population and based on the aforementioned factors, the market is anticipated to grow during the forecast period.?

Forage Seed Market Competitive Analysis

The Global Forage Seed Market is fragmented, with the top five companies occupying 35.82%. The major players in this market are Bayer AG, Corteva Agriscience, DLF, Land O’Lakes, Inc. and Royal Barenbrug Group (sorted alphabetically).

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06381361/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001