According
to the report, global forage seed market is valued at USD 10,789.3
million in 2014 and is expected to reach USD 17508.5 million by 2020,
growing at a CAGR of 8.4% from 2014 to 2020. In North America, the
U.S. is an attractive market for forage seeds in 2014 and is expected
to become the most lucrative market for these products by 2020. North
America is the major market for forage seed, followed by Europe and
Asia Pacific.
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Low
price of forage seeds are creating a positive impact on the demand
for forage seeds that are used for feeding livestock. Furthermore,
the economic benefits such as prevention of soil erosion, improve
soil structure, crop rotation among others that are caused from
cultivation of forage seeds also helps to increase the demand for the
same. Changing food habits and rising demand for dairy products and
meat products is expected to boost the demand for livestock.
Therefore, livestock farmers are focusing on providing good forages
to livestock to increase the production level. Owing to these
factors, the demand for forage seed is expected to increase over the
forecast period.
At
present Asia Pacific is comparatively smaller market as compared to
other developed regions. However, this market is expected to
experience a robust growth during the forecast period. Emerging
countries such as France, Ireland, China, India, and Brazil among
others are the fast growing markets for forage seed.
Geographically,
the U.S. in North America is expected to experience strong growth in
the forecast period, while France in Europe and China in Asia Pacific
are expected to witness sluggish growth as compared to other
countries in terms of usages of forage seed as livestock feed. The
U.S. market accounted for the largest share of the forage seed in
North America in 2014, followed by France in Europe. China in Asia
Pacific is anticipated to continue its dominance in the global forage
seed market till 2020.
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By
product type, the forage seed market has been segmented into –
alfalfa, clover, ryegrass, chicory and others including lablab and
fescue among others. Alfalfa seed is the largest segment followed by
clover and ryegrass in 2014. The increasing demand for forage feed is
expected to boost the demand for Alfalfa seed throughout the forecast
period. However, clover and ryegrass seed are also contributing to
the growth of forage seed market. The forage seed market is also
segmented by livestock type, namely poultry, cattle, pork/swine and
others (including aquaculture). In forage seed market, poultry is one
of the major segments generating a major portion of total revenue.
Others livestock segment including aquaculture in overall forage seed
market is the fastest growing livestock segment, growing at a CAGR of
11.9% throughout the forecast period.
The
forage seed market has been segmented as follows:
Global
Forage Seed Market has been segmented as follows
Forage
seed market, by product type market size and forecast, 2013 - 2020
Products
type covered under this research study include:
- Alfalfa
- Clover
- Ryegrass
- Chicory
- Others (Including lablab, fescue etc)
Forage
seed market, by livestock type market size and forecast, 2013 - 2020
Livestock
type covered under this research study includes:
- Poultry
- Cattle
- Pork/Swine
- Others (Including aquaculture etc)
In
addition, the report provides a geographic analysis of all the above
mentioned segments:
- North America
- Europe
- Asia Pacific
- Rest of the World (RoW)
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Press Release Global Forage Seed Market
http://www.transparencymarketresearch.com/pressrelease/global-forage-seed-market.htm
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