Canada Forage Seed Market - By Product Type, Application and Geography - Market Shares, Forecasts And Trends (2017 - 2022)
The Canada forage seed market has estimated to be XX billion US$ in 2014 and expected to reach XX billion US$ by 2020 at a CAGR of XX% during the forecasted period 2015-2020. Canada leading nation in the forage seed market and contributing to the major share of XX % across the globe. Canada is contributing majorly in the alfalfa seed production across the globe. In the year 2013, Canada has exported around 100 million Lbs of grass and legume seeds. The value for forage seed exports was US$ 125 million in 2013 of which the alfalfa export valued for US$ 40million. Forage seeds are used by the farmers to grow forage crops such as Alfalfa, Clover, Fescues, Ryegrass which are utilized by the grazing livestock. Forage plants are first breed by the forage breeder to obtain forage seeds which is then supplied to the seed grower and conditioner for further processing and conditioning to get the purified seed with high potential. The certified seed acres has increased by 2.1% from the previous year showing a healthy growth in forage seed market. Emerging livestock feed sector has steadily increase the demand for the forage seed market. Crop losses due to insect infestation and increased demand for weed free crops has created an opportunity for the high quality forage seed market.
Forage seeds are used by the millers, dairy farmers and forage farmers for the high yield of crops. These seeds are produced as per the species and variety of crops to be grown. Generally these seeds are utilized for the livestock feed production that are in high demand in the present market. Canadian exports market mainly consists of Alfalfa, turf grass, timothy seeds.
The tremendous growth in consumption of animal products has increased the demand for the livestock feed which directly strengthen the forage seed market. The major drivers for the market are increase in certified acres of grass land for forage seed production, increased demand for dairy and animal products, increased consumer preference for organic food and feed products, increased in breed cattle demand for feed, growth in population and the shrinkage of land for the grazing animals. However the Canada Seed Act controlling the seed regulation and high investment for the forage seed production has affecting the market growth. Unpredictability of seed cycle, Soil condition, Climatic change, and the time incentive returns being the restraint for the market. Although the quality potential of the forage seed is quite high and so the cost is more which creates an unwillingness for the farmers to buy the high cost seed for the feed.
Forage market are distributed in different segments on the crop type, product type and animal type. The market segmented on the type of crop production for the miller such as cereal crops, legumes or grasses for grazing animals. Turf and forage grasses consists of major share in the market followed by legumes seeds. Forage product type is further sub segmented into the storage purpose forage and fresh forage. Forage are grown for conservation to preserve them for the time when it is unavailable in the market. It is stored as hay through drying process and as silage through fermentation process. The market segmentation through cattle type includes cross breed cattle, indigenous cattle and buffalos. The poultry livestock utilizes high quality forage seeds and covers the major market share followed by cattle and pork.
Increased productivity of animal products have emerged the demand for biotechnology products like high potential forage seed demand in the region and created an opportunity for the market to grow. The high investment in the production of forage seed and its high cost is still a big challenge for the market growth. The key players in the market are Alied Seed, Northstar seed Ltd., Dynamic Seeds Ltd., Brett Young, Golden Acre Seeds, Moore Seed Processors, Pickseed Canada Ltd., Foster feed and seed, among others. The major players have indulge in the investment in R&D for innovative product, partnerships and market strategy for the pricing of product to sustain in the competitive market.
Market analysis for the Canada Forage seed Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the global Forage seed market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped