The Australia Forage Seed Market is estimated to register a CAGR of 7.9% during the forecast period (2020-2025). In Australia, Forage seeds are used by the dairy farmers and forage farmers for the production of high yield crops. These seeds are produced particularly to the species and a variety of forages grown are used for consumption purposes for animals to increase specialized feed requirement which, in turn, will increase the yield of cattle. The Australian forage seed production market mainly consists of alfalfa and clover seeds. By crop type, the market is segmented into legumes, cereals, and grasses. By product type, the market is segmented into stored forage and fresh forage. The poultry livestock utilizes high-quality forage seeds and beef covers the major market share among other livestock. Increased export of animal products is steadily creating good opportunities for the forage seed market in Australia.
Key Market Trends
Growing Demand of Meat and its Products
The Australian food economy is being increasingly driven by the shift in diet and food consumption patterns towards livestock products. The demand for meat is expected to grow faster in Australia with sustained economic growth, rising per capita income, strengthening urbanization trends and increasing awareness of the nutritive value of meat and meat products. According to UN FAO, by 2020, the demand for meat and eggs together constitute 8 million tonnes in India.
Forage seeds are used by millers, dairy farmers, and forage farmers for high yielding crops. These seeds are produced as per the species and variety of crops to be grown. Generally, these seeds are utilized for the beef feed production that is in high demand and to a greater extent for dairy animals. The Australian forage seed production market mainly consists of alfalfa and clover seeds.
Increasing Demand For The Quality Feed
In the future, production is anticipated to be increasingly affected by competition for natural resources, particularly land and water, and competition between food and feed. Developments in breeding, nutrition, and animal health will continue to contribute to the increasing potential for efficient production of animals. The growth in livestock production is likely to create a demand for better forage crops, as people are exceedingly concerned about the quality of meat they consume. The growth in the demand for forage crops can only be supported with better quality forage seeds. Growing consumer preference for organic food and feed products, rise in breed cattle demand for feed, mounting population and the shrinkage of land for grazing animals.
The key players in the market are Allied Seed, DLF International Seeds, Dynamic Seeds Ltd., Brett Young, Golden Acre Seeds, Pickseed Canada Ltd. and Foster Feed and Seed. The major players are investing in R&D for innovative products, partnerships and market strategy for the pricing of product to sustain in the competitive market.
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