Forage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Forage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • May 2022 •
  • 143 pages •
  • Report ID: 6280804 •
  • Format: PDF
The global forage market reached a value of US$ 81.32 Billion in 2021. Looking forward, the analyst expects the market to reach a value of US$ 109.29 Billion by 2027, exhibiting a CAGR of 4.88% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

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:
the analyst provides an analysis of the key trends in each sub-segment of the global forage market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on crop type, product type and animal type.

Breakup by Crop Type:
Cereals
Legumes
Grasses

Breakup by Product Type:
Stored Forage
Silage
Hay
Fresh Forage

Breakup by Animal Type:
Ruminants
Swine
Poultry
Others

Breakup by Region:
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.



Key Questions Answered in This Report:

How has the global forage market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global forage market?
What are the key regional markets?
What is the breakup of the market based on the crop type?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the animal type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global forage market and who are the key players?
What is the degree of competition in the industry?