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In 2023, the global forage seed market was estimated to be worth around USD 19.72 billion. The market is expected to increase at a 9.2% CAGR between 2024 and 2032, reaching USD 39.88 billion by 2032.
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The forage seed market players are aiming to implement a lot of strategies to gain a competitive edge in the global market for forage seeds. Any firm offering a large portfolio of forage seed types is better positioned to serve a large customer base. Those that can refine supply chains, better handle inventories, and decrease logistical costs will be able to deliver competitive prices with lower hassle customer service, helping in enhancing the forage seed industry revenue. Those forage seed companies that have an established network of distribution channels will be able to reach a larger pool of customers and make inroads into new markets more effectively. Therefore, strategic alliances and partnerships amongst research institutes, agricultural organisations, or other industry participants can favourably position a company in the market.
Key industry leaders in this market are:
Corteva Inc., headquartered in Indiana and founded in 2019, has invested heavily in research and development to come up with innovative seed varieties that have higher nutritional value and are more adaptable to varied climatic conditions. Corteva mixes seed and crop protection solutions to make it easier for farmers to grow more food with reduced environmental impact. It has made some targeted investments in building regional market presence deeper in Asia-Pacific and Latin America by building local production and distribution networks.
DLF Seeds A/S, established in 1904 and headquartered in Roskilde, Denmark, invested in research and development to produce high-performance seed varieties for better disease resistance and yield potential. The company undertakes the development of environmentally-friendly forage seeds to link up with land use supporting soil fertility and biodiversity within sustainable agriculture. DLF Seeds targets expanding its geographical presence in North America, Latin America, and Asia-Pacific by forming strategic alliances and through market development activities.
BASF SE, established in 1865 in Ludwigshafen, Germany, is dependent on the development of new types of seeds, mainly being high-yielding and providing resistance, enhanced climatic tolerance, and other abilities. It produces seeds designed for a resource-efficient, environmentally friendly farming approach. Further, the company invests in strategies, partnerships, and local provision of production in such countries, thus providing several forage seed market opportunities.
UPL Limited is an Indian company established in 1969. The company is situated in Mumbai, India. The company deals with research and development of seeds that are superior in quality, giving excellent yields and crop disease resistance. The company also attempts to encourage sustainable agriculture with environmentally-friendly products and solutions. Over the years, UPL has been able to grow its footprints in newer markets through strategic buyouts and partnerships.
BrettYoung Seeds Limited, incorporated in the year 1934, based in Winnipeg, Canada, applies its professional knowledge to strict quality control to ensure that only the highest-grade seeds are supplied to farmers. They offer solutions that meet the different needs of various agricultural regions and provide the necessary education to farmers so they can continue farming sustainably by making the right decisions.
Other key players in the forage seed market report include Forage Genetics International, LLC, RAGT SA, S&W Seed Co., Growmark FS, LLC, and Germinal GB, among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The forage seed market reached a value of approximately USD 19.72 billion in 2023.
The market is projected to grow at a CAGR of 9.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 39.88 billion by 2032.
The major market drivers include increased meat consumption and growing efforts towards the enhancement of soil quality due to decreasing soil fertility.
The key trends fuelling the growth of the market include growing requirement for cattle feed supplements and increasing emphasis on improving cattle gut health.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different forage seeds include alfalfa, clover, ryegrass, and chicory, among others.
The key players in the market are UPL Limited, Corteva Inc., BrettYoung, Ampac Seed Company, DLF Seeds A/S, Forage Genetics International, LLC, RAGT SA, S&W Seed Co., Growmark FS, LLC, and Germinal GB, among others.
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