Global Forage Feed Market 2017-2021
About global forage feed market
Forage feed provides nutrition to livestock such as poultry, horse, sheep, swine, cattle, and others. It comprises grass, silage, legumes, hay, and extracts from harvested crops. It has a high fiber content; hence, it is used for animal nutrition and land conservation. The forage feed market has been witnessing a healthy rise in the demand over the past few years. Based on livestock, the market has been categorized into cattle, poultry, pork/swine, and others.
Technavio’s analysts forecast the global forage feed market to grow at a CAGR of 11.36% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global forage feed market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Forage Feed Market 2017-2021
Technavio recognizes the following companies as the key players in the global forage feed market: ADM Animal Nutrition, BASF, Cargill, and NWF Group.
Other Prominent Vendors in the market are: BAILEYS HORSE FEEDS, BRETTYOUNG, Chaffhaye, J Grennan & Sons, SEMICAN INTERNATIONAL, Standlee Hay, The Pure Feed Company, and Triple Crown Nutrition.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing popularity of organic meats. Organic meat constitutes a minor part of the global meat industry. However, its increasing demand has attracted many conventional and new players. The increasing demand for organic meat is growing due to consumer preference for the product. Consumers willingly pay a premium for natural and organic meats.”
According to the report, one driver in the market is technological improvements in feedstock. The advances in biotechnology in recent years have allowed the use of non-toxic fungi to improve fibrous feeds like straw and low-quality roughages. For instance, the white rot fungus has been used because of its ability to delignify the plant material. Along with antibiotics, a wide variety of feed additives such as antibiotics and microbes and specific substrates like oligosaccharides are also capable of modifying rumen fermentation. These additives include components that can reduce methanogenesis and protein degradation, improve microbial protein synthesis, enhance propionic acid production, and inhibit protozoan growth.
Further, the report states that one challenge in the market is maintenance of proper stocking rate and balancing animal numbers with forage supply. Stocking rate is the area of land allotted per animal-unit for the entire grazable period of the year. As forage production varies signi¬ficantly from year to year, the proper stocking rate should also change. Most ranchers use the same stocking rate for years and take adjustments into consideration only when forage supplies get depleted. Feed costs prevent the cattle owners from maintaining consistent herd/flock size. This has been damaging the resources and has even reduced the forage availability.
ADM Animal Nutrition, BASF, Cargill, NWF Group, BAILEYS HORSE FEEDS, BRETTYOUNG, Chaffhaye, J Grennan & Sons, SEMICAN INTERNATIONAL, Standlee Hay, The Pure Feed Company, and Triple Crown Nutrition.