Forage Market Overview:
According to the latest report by IMARC Group, titled “Forage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global forage market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global forage market size reached a value of US$ 81.32 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 109.29 Billion by 2027, exhibiting a CAGR of 4.88% during 2022-2027.
Forage is an edible part of the plant that is harvested to feed livestock. Some of the extracted harvested crops include grass, legumes, silage, and hay. It is beneficial for animals as it contains fibers, vitamins, and proteins that improve the metabolic activities of animals. It also assists in milk production, which is acquired by maintaining the rumen health of animals. It enhances fluid balance, eggshell formation, and hormone production among several poultry farm birds. As a result, it mitigates greenhouse gas impact, prevents soil erosion, reduces weed development, aids in keeping sediment out of waterways, purifies air and water, and nourishes wildlife habitats.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Forage Market Trends and Drivers:
The market is primarily driven by the increasing awareness among individuals regarding the health benefits of consuming animal products like meat and milk. Besides this, there has been escalating demand for forage to acquire high-quality products from cattle.
Along with this, with the growing focus on livestock health, farmers prefer natural and organic forage to provide adequate nutrition to animals so that good-quality animal products can be supplied to the consumers. This, coupled with favorable government policies across the world, is positively influencing the market growth.
Moreover, manufacturers are extensively funding research and development (R&D) activities to improve product quality. They are also investing in product innovations, technological breakthroughs, and effective allocation of resources, which are anticipated to increase market sales and profitability rates.
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Global Forage Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- 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
- Standlee Premium Products LLC.
The report has segmented the market on the basis of region, crop type, product type and animal type.
Breakup by Crop Type:
- Cereals
- Legumes
- Grasses
Breakup by Product Type:
- Stored Forage
- Silage
- Hay
- Fresh Forage
Market 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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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