The US forage seed market is expected to register a CAGR of 10.3% over the forecast period. Forage seeds are used by millers, dairy farmers, and forage farmers, primarily for the high yield of crops. These seeds are produced as per the species and variety of crops to be grown. The United States is the leading market for forage seeds in North America, boosting its market growth to cover the largest market share, globally. The United States is the largest producer and exporter of forage grass and seed in the world. The alfalfa and clover seeds hold the major export market.
Key Market Trends
Demand for Organic Food and Feed Products
The major drivers of the market are increased consumer preference for organic food and feed products, consumer demand for dairy and animal products, rise in breed cattle demand for feed, growth in population, and the shrinkage of land for grazing animals. The rising domestic and international demand, especially in the Middle Eastern countries, led to an increased demand for forage seeds in the region. Growing concerns of consumers over food safety propelled the demand for organic foods, and incidentally, have affected global beef production. The demand for organic beef meat is gaining traction, particularly in developed markets, in line with the rising confidence of consumers toward organic beef, over regular beef.
Growing Demand for Dairy and Meat Products
Globally, increasing population trends are supporting the growth of the dairy, meat, and seafood markets. Increasing life expectancy, limited availability of land and water resources for animal feed production, and increasing usage of these resources for food production are increasing the demand for animal feed in the global dairy and meat industry. The highest growth of meat consumption is expected to be registered in the Asia-Pacific and Latin American regions, because of the changing diet patterns, population, and economic growth. For example, China consumes around 28% of the world’s meat. Thus, it is essential to maintain the quality of feed for animals. This, in turn, is influencing the growth of the forage seed market.
Allied Seed LLC, DLF International Seeds, Dynamic Seeds Ltd, Brett Young, Golden Acre Seeds, Moore Seed Processors, Pickseed Canada Ltd, and Foster Feed and Seed are the major market players. The players in the market are investing heavily in R&D, in order to develop new products. Dairyland Seeds, which is a part of DowDuPont, introduced seven new products under its forage seed category for the 2018 planting season. The highlights for these new products are the new genetics and expanded trait packages, which provide the company an edge above its competitors.
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