Global Forages Market – Industry Trends and Forecast to 2029

Forages Market Market Analysis and Size

The increasing awareness amongst the individuals regarding the health benefits of consuming animal products like milk and meat is driving the growth of the market. Additionally , the rising focus on the health of livestock, farmers are increasingly preffering natural and organic forage as it  provides adequate nutrition to animals.

Data Bridge Market Research analyses that the global forages market was valued at USD 634.20 million in 2021 and is expected to reach the value of USD 988.16 million by 2029, at a CAGR of 5.70% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

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 the world’s milk and food production. It is rich in vitamins, fibres, protien and others and enhances metabolic activities of animals such as ruminants, swine and others. It also improves the egg shell formation, hormonal balance and production. Apart from animals, it also prevents soil erosion, aids in keepimg sediment out of waterways and reduces weed development. All these factors are expected to generate lucrative growth opportunities for the market.

Forages Market Dynamics

Drivers

• Changing Consumer Preferences

The primary factors ensuring the global forages market's steady growth are widespread modernizationm and the prevalence of chronic illnesses in the livestock and hence, the changing consumer’s preferences along with the rise in the demnds of high quality antural and organic forage is on the rise across the globe. As a result, consumers are becoming more aware regarding the benefits provided by the forages and hence, the market is projected to show a signifificant growth over the forecasted period.

• Investments in the R&D Sector

The rising investments in the R&D sector is also a major driving factor for the market. Besides this, the mandatory analysis of quality and safety of high quality forages is also driving the growth of the market and, is another important factor acting as a forages market growth determinant.

Opportunities

Growing focus on health in livestock, increased customer’s preference and enhanced R&D sector advancements such as mandatory analysis of forages are some factors that are expected to generate numerous lucrative opportunities for the market.

Restraints

Lack of awareness regarding the forage analysis among the forage manufacturers and farmers and risk associated with forage contamination are the factors that will restrict the market's growth.

This forages market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the forages market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Global Forages Market

The coronavirus pandemic has harmed the majority of the forage market’s manufacturing, development, production, and logistics units have been impacted in a negative way. However, some industries have grown during the pandemic, and the forages market is one of them. All the manufacturing industries have been focusing on expanding the supply and chain, manufacturing and logistics units. Hence, the forages market is still exhibiting tremendous growth in the Covid-19 period.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Forages Market Scope

The forages market is segmented on the basis of type, crop type, products, animal type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Store Forage
• Fresh Forage

Crop Type

• Cereals
• Legumes
• Grasses

Products

• Ration
• Hay
• Silage
• Others

Animal Type

• Ruminants
• Swine
• Poultry
• Others

Application

• Dairy
• Crops
• Others

Forages Market Regional Analysis/Insights

The forages market is analysed and market size insights and trends are provided by type, crop type, products, animal type and application as referenced above.

The countries covered in the forages market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the forages market due to the increased technological advancements in farming within the region.

Asia-Pacific, is expected to show profitable growth during the forecast period of 2022 to 2029 due to the increased adoption of lipase enzymes, increased demands of natural and organic forages, end consumer demands for higher quality livestock feed.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Forages Market Share Analysis

The forages market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to forages market.

Some of the major players operating in the forages market are:

• Forage Genetics International, LLC (U.S.)
• DLF Pickseed (U.S.)
• Cargill, Incorporated. (U.S.)
• Standlee Premium Products, LLC (U.S.)
• Barenbrug USA (U.S.)
• BRETTYOUNG (U.S.)
• King's Agriseeds (U.S.)
• PGG Wrightson (New Zealand)
• Corteva.(U.S.)
• Land O'Lakes, Inc. (U.S.)
• Rivard's Turf & Forage (U.S.)

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