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Report Overview
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.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- According to FAO, the United States has a very strong livestock sector in 2022 with so many numbers in almost all categories.
- Sheep and goats are relatively few with numbers at 5,065,000 and 2,550,000 respectively, thus bolstering the growth of the forage seed market.
- Turkeys, with an estimated 70,000 head, further add to the great variety of the United States poultry industry and propels the forage seed demand growth to rise high.
Forage Seed Market Growth
Growing demand for meat and dairy products, coupled with government policies, to boost the market.
- Better Feeding to the livestock is required due to an increase in demand for meat and dairy products, thus boosting the growth of forage seeds market.
- Governments encourage policies and incentives for sustainable agriculture and rural development; these increase the overall demand for forage seed.
- Forage crops are an intrinsic part of these systems, providing livestock feed while enriching the fertility of the soil for producing future crops.
Forage Seed Market Report Snapshots
*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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Key Questions Answered in the Report
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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