Forage MarketThe global forage market 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.According to the latest report by IMARC Group, titled "Forage Market Report : Global Forage Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027", the global forage market 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 the part of crops fed directly to livestock and largely contributes to the world of food production. It is a rich source of vitamins, fibers and proteins. The consumption of forage also enhances milk production, maintains rumen health, increases metabolism, improves eggshell formation, provides fluid balance, and hormone production among various animals and poultry birds. In addition to this, forage reduces the development of weeds, prevents soil erosion, helps in sediment displacement, purifies the air and water, mitigates greenhouse gas impact, and nourishes wildlife habitats.
Report Metric |
Historical: 2016-2021 |
Base Year: 2021 |
Forecast Year: 2022-2027 |
Forage Market Trends and Drivers:
The global forage market is primarily driven by the growing consciousness regarding the nutritional need of farm animals. Besides this, the increasing consumption of animal products such as milk and meat and the higher demand for protein is also fueling the market growth.
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Nowadays, the lack of proper wildlife management has led to the shrinkage of grazing land, which is escalating the product
demand across the globe. Moreover, farmers nowadays increasingly prefer organic forage as it offers adequate nutrition to animals.
Furthermore, extensive investments in research and development (R&D) activities to improve product quality are expected to significantly impact the market growth in the upcoming years.
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.
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.
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 and Standlee Premium Products LLC.
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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
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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