Forage Seed Market is estimated to be US$ 48.78 billion by 2030 with a CAGR of 8.4% during the forecast period

Forage seeds crops are grown specifically to be grazed by livestock or conserved as hay or silage. Forage crops assist in achieving production targets for attributes such as growth or weight gain and to make up seasonal short falls between feed and demand. Generally, used to provide feed during mid-to late summer. They include forage sorghum, sundangrass, sudangrass-sorghum hybrids, goosegrass, spring triticale’s, and grains such as millet, oats, winter wheat, rye, and barley. The most suitable brassicas for grazing during winter are kale, swedes and rape/kale hybrids. Economic benefits related with the cultivation of this seed such as prevention of soil erosion and improvement of soil quality has led farmers to switch to forage cultivation. Moreover, growing awareness about nutritional value of forage seeds and its increasing use in the supplements are major factors fueling target market growth.

Region Analysis:

In the forage seed market, North America is expected to account major market share in terms of revenue as compared to that of other regions. Asia Pacific is the fastest-growing region in the forage seed market, owing to increasing livestock population along with growing awareness about livestock health among developing countries like India in the region.

Key Development:

• In 2019, DLF Seeds & Science acquired PGG Wrightson Ltd, an international market leader in forage and turf seeds.
• In 2020, The Royal Barenberg Group acquired Simplot’s Jacklin Seed business, in order to expand grass seed production and processing for upcoming years.

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Segmentation:

The forage seed market accounted for US$ 21.88 billion in 2020 and is estimated to be US$ 48.78 billion by 2030 and is anticipated to register a CAGR of 8.4%.  The forage seed market is segmented based on product, livestock, and region.

• By product type, the Forage Seed Market is segmented Alfalfa, Clover, Chicory, and Ryegrass.
• By livestock, the Forage Seed Market is classified into Poultry, Ruminants, and Swine.

Competitive Analysis:                                                                                                 

The key players operating in the forage seed market includes DowDuPont Inc., Monsanto Company, Land O’ Lakes Inc., Advanta Seed Ltd., BrettYoung Seeds Ltd., Royal Barenbrug Group, Imperial Seed Ltd., Allied Seed LLC, Northstar Ltd, and Ampac Seed Company.