Global Forage Seed Market 2017-2021
About Forage Seed
Forage seeds are those seeds which are grown to be utilized by grazing or harvesting as a whole crop. Primarily plant breeders plant different forages seeds, which are primarily harvested as livestock feed. This is because these plants provide the optimal amount of nutrition to livestock. Farmers need to consider several factors while sowing and maintaining pastures, like sowing seeds and growing plants that have high protein content, are rich in minerals and vitamins, and can improve soil fertility through nitrogen fixation.
Technavio’s analysts forecast the global forage seed market to grow at a CAGR of 9.62% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global forage seed market for 2017-2021. To calculate the market size, the report considers the revenue generated through the sales of forage seeds used for poultry, cattle, swine, and other animal feeds in the different geographical regions of the world.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Forage Seed Market 2017-2021
Technavio recognizes the following companies as the key players in the global forage seed market: Allied Seed, DuPont, The Dow Chemical Company, and UPL.
Other Prominent Vendors in the market are: Ampac Seed Company, Barenbrug, BASF, BrettYoung, Land O’Lakes, Hancock Seed, Monsanto, Imperial Seed, Germinal, and S&W Seed Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in production of crossbred livestock. Crossbreeding of livestock is one of the methods of genetic intensification to increase the productivity of livestock. Crossbreeding is done majorly to improve the milk production of dairy cattle. It has been found that Jersey cross-bred cows, which are fed better quality forages, yield two times more quantity of milk per day in comparison to local cattle breeds.”
According to the report, one driver in the market is increased demand for dairy products. The consumption of dairy products is increasing worldwide, which is mainly due to the increasing awareness of the health benefits of milk and milk products. This factor, in turn, is benefitting the global forage seed market as farmers are choosing good quality forage seeds for cattle to produce high-quality milk. The high demand for dairy products can be attributed to multiple factors, some of which include demographic factors such as urbanization, economic factors such as income levels and relative prices, and social and cultural factors.
Further, the report states that one challenge in the market is unwillingness of farmers to pay high price for forage seeds. Forage seed prices have risen dramatically in the recent years, and farmers show restraint while paying higher price for forage seeds. Forage seed prices also depend on the type of forage and their yield. In many dairy farms, forage seeds are sown fresh as winters destroy most of the plantation, and also to avoid feed shortages. Many acreages of forage plantations in the US still have drought problems. Many other constraints such as the decrease in beef and milk market prices also affect the farmers, which results in increase in unwillingness to pay a premium price for forage seeds.
Allied Seed, DuPont, The Dow Chemical Company, UPL, Ampac Seed Company, Barenbrug, BASF, BrettYoung, Land O’Lakes, Hancock Seed, Monsanto, Imperial Seed, Germinal, and S&W Seed Company.
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