China Forage Seed Market - By Product Type, Application and Geography - Market Shares, Forecasts And Trends (2017 - 2022)
The forage seed market accounts for nearly 26% of the global seed market. The China forage seed market was valued at USD XX million in 2015 and is expected to reach USD 1606.78 million by 2021, witnessing a CAGR of XX % during 2016-2021.The most common forage seeds available in the market are sorghum, maize, oats, alfalfa, clover, pearl millet, and grasses. Various hybrid forage seeds with high-yield potential are available in the market. Increased demand for livestock products, including eggs, meat (beef, pork, and mutton), and milk, is stimulating the growth of the global market.
A majority of the Chinese forage seed market is import dependent. However, government policies for lesser import of forage seeds are propelling China towards domestic production of forage seeds. The increase in cattle import and calf production in the country and free-trade agreements on cattle import with Australia have boosted the demand for feed, which in-turn have increased the forage seed demand in the country.
The China forage seeds market is driven by factors such as growing demand for dairy products, higher livestock production, and increased meat consumption across the country. Proper usage of quality forage seeds improves the quality and yield of animal feed, and in-turn helps in improving animal health and growth. The rise in the cost of forage is another driving factor for the industry. Industrialization of the livestock sector is helping the forage seed industry acquire a greater market share. Product opportunity lies in the fact that good forage is responsible for increased milk and meat production in animals. The major restraint in the China forage seed market is the unorganized market structure.
The China market for forage seeds can be segmented by crop type, product type, animal type and geography. By crop type, the market is segmented into legumes, cereals, and grasses. Among forage crops, cereal forage seeds form the largest market segment, with 38% of the market share. Increased demand for poultry products, dairy, and beef products has accelerated the demand for high-quality forage seeds in the market.
By product type, the market is segmented into stored forage and fresh forage. The stored forage is further segmented into silage and hay. By animal type, cattle constitute the largest share in the fodder crop consumption, followed by swine. The increased consumption and demand of pork meat in the country has hastened the growth rate of swine fodder. Poultry is the second fastest-growing animal type forage seed in the country, due to the growing demand for poultry products.
Major companies in the sector include:
AMPAC SEED COMPANY
FORAGE GENETICS INTERNATIONAL
ROYAL BARENBURG GROUP
PENNINGTON SEED COMPANY
GANSU YASHENG INDUSTRIAL (GROUP) CO. LTD
INNER MONGOLIA HUANGYANGWA GRASS CO., LTD.
GROUPE LIMAGRAIN (VILMORIN)
Key Deliverables in the Study
Market analysis for the China forage seed market with competition analysis.
Market overview and identification and analysis of the macro and micro factors that affect the China forage seed market.
Extensively researched competitive landscape section with profiles of major companies and their market share, along with an analysis of their current strategic interests and financial information and strategies adopted by them to sustain and grow in the studied market.
The report holds importance for the following stakeholders-
Producers and manufacturers
Forage seed companies
Traders and stakeholders operating in the sector
Investors/research institutions interested in the market
Supply chain analysis
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook