The global forage market size reached US$ 86.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 114.5 Billion by 2028, exhibiting a growth rate (CAGR) of 4.73% during 2023-2028.
Forage is an edible part of the plants that are harvested for feeding livestock. It is an important component of agroecosystems and contributes significantly to world food production. It is rich in vitamins, fibers and proteins and enhances metabolic activities of animals. It helps in milk production, which is achieved by maintaining the rumen health of animals. It improves eggshell formation, fluid balance and hormone production among various poultry farm birds. Besides this, it also prevents soil erosion, aids in keeping sediment out of waterways, reduces weed development, purifies air and water, mitigates greenhouse gas impact and provides wildlife habitat.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Forage Market Trends:
At present, the increasing awareness among individuals about the health benefits of consuming animal products like milk and meat, along with the escalating demand for forage to obtain high-quality products from cattle, represents one of the key factors driving the market. Moreover, the reduction of land for grazing animals due to a lack of proper wildlife management is propelling the growth of the market around the world. In addition, with the rising focus on the health of livestock, farmers are increasingly preferring natural and organic forage as it provides adequate nutrition to animals. This, coupled with favorable laws implemented by governments of several countries worldwide, is positively influencing the market. Besides this, the expanding agricultural industry and improvements in fertilizers are offering lucrative growth opportunities to industry investors. Furthermore, key market players are extensively investing in research and development (R&D) activities to improve product quality. They are also focusing on product innovations, technological breakthroughs and effective allocation of resources, which is projected to strengthen their overall sales and profitability.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global forage market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on crop type, product type and animal type.
Breakup by Crop Type:
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Cereals
Legumes
Grasses
Breakup by Product Type:
Stored Forage
Silage
Hay
Fresh Forage
Breakup by Animal Type:
Ruminants
Swine
Poultry
Others
Breakup by Region:
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North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Allied Seed LLC, Barenbrug USA, BrettYoung, Cargill Incorporated, Corteva Inc., DLF Seeds A/S, Forage Genetics International LLC (Land O'Lakes Inc.), King's Agriseeds Inc., Rivard's Turf & Forage and Standlee Premium Products LLC.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2022
Historical Period
2017-2022
Forecast Period
2023-2028
Units
US$ Billion
Segment Coverage
Crop Type, Product Type, Animal Type, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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Key Questions Answered in This Report
The global forage market was valued at US$ 86.0 Billion in 2022.
We expect the global forage market to exhibit a CAGR of 4.73% during 2023-2028.
The growing usage of forage for feeding livestock to obtain high-quality products, as it aids in maintaining the rumen health of the animals, is primarily driving the global forage market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shortage of raw materials and labors, thereby negatively impacting the growth of the forage market.
Based on the crop type, the global forage market can be categorized into cereals, legumes, and grasses. Among these, cereals exhibit clear dominance in the market.
Based on the product type, the global forage market has been segmented into stored forage and fresh forage. Currently, stored forage represents the largest market share.
Based on the animal type, the global forage market can be bifurcated into ruminants, swine, poultry, and others. Among these, ruminants account for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where North America currently dominates the global market.
Some of the major players in the global forage market include Allied Seed LLC, Barenbrug USA, BrettYoung, Cargill Incorporated, Corteva Inc., DLF Seeds A/S, Forage Genetics International LLC (Land O'Lakes Inc.), King's Agriseeds Inc., Rivard's Turf & Forage, and Standlee Premium Products LLC.
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