India Forage Seed Market Growth, Trends, and Forecasts (2017 - 2022)
The India forage seed market was estimated at USD XX million in 2015 and is expected to increase to USD 79.2 million by 2021, witnessing a CAGR of 18.1% during the forecast period (2017 - 2022).
Forage seeds are used by farmers to grow forage crops such as alfalfa, clover, sorghum, berseem, etc., which are utilized by the grazing livestock as feed. Sorghum and berseem occupied a major share of about 54% of the total cultivated fodder crops in India, in 2015. India has established forage seed production programs and over 200 companies are involved in the business, currently. The export of forage seed was USD 2.9 million in 2013.
The major drivers of the forage seed market include the steady increase in population, emerging per capita income, higher demand for dairy and animal products, low productivity of cattle, increased in-breed cattle demand for feed, government subsidies and the shrinkage of land for the grazing animals. The unpredictability of seed cycle, soil condition, climatic change, periodic drought characteristics of the region and the time incentive returns are the major restraints of the market. Moreover, one of the key obstacles to the growth of India forage seed market is the lack of government support for the animal feed industry. However, looking at the increasing price trend in forage crops, farmers may adopt the high-priced seeds, further stimulating the market growth in India.
The India forage seed market can be segmented by crop type, product type, animal type and geography. On the basis of crop type, the market is segmented into legumes, cereals, and grasses. Among forage crops, cereal forage seeds form the largest market segment, with 38% share of the forage seed market. An increased demand for poultry, dairy, and beef products has accelerated the demand for high-quality forage seeds. The market is also segmented by the product type into stored forage and fresh forage. The stored forage is segmented into silage and hay. The market is further segmented by animal type into cattle, swine, and poultry. Cattle constitute the largest share in the fodder crop, by consumption, followed by swine.
Major companies in the sector include:
Dynamic Seeds Ltd.
Golden Acre Seeds
Moore Seed Processors
Pickseed Canada Ltd.
Foster's Seed and Feed
Northstar Seed Ltd.
Hancock Farm and Seed Co.
Advanta Seed International
DLF International Seeds
Barenburg Seeds, USA
Blue River Hybrids Organic Seeds
Ampac Seed Company
Brett Young Seed Company
Key Deliverables in the Study
Market analysis for the India forage seed market, along with competition analysis.
Market overview and identification and analysis of the macro and micro factors that affect the 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
Agricultural input companies
Enterprises operating in the industry
Traders and stakeholders operating in the sector
Investors/research institutions interested in the market