IMARC Group, a leading market research company, has recently releases report titled “Forage Market Report by Crop Type (Cereals, Legumes, Grasses), Product Type (Stored Forage, Fresh Forage), Animal Type (Ruminants, Swine, Poultry, and Others), and Region 2024-2032”, Offers a comprehensive analysis of the industry, which comprises insights on the market.
How Big is the Forage Market?
The global forage market size reached US$ 90.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 131.0 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2024-2032.
Industry Overview of Forage
Forage refers to the consumable portions of plants that are collected for the purpose of feeding livestock. It plays a crucial role in agroecosystems and makes a significant contribution to global food production. Forage is abundant in vitamins, fibers, and proteins, which promote the metabolic functions of animals. Furthermore, it supports milk production by maintaining the health of the animal’s rumen. For poultry farm birds, it aids in eggshell formation, fluid balance, and hormone production. In addition to this, forage serves various environmental benefits, such as preventing soil erosion, minimizing sedimentation in waterways, suppressing weed growth, purifying air and water, reducing greenhouse gas emissions, and providing habitat for wildlife.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/forage-market/requestsample
What are the growth prospects and trends in the forage industry?
The market is driven by increasing awareness among individuals regarding the health advantages associated with the intake of animal products such as milk and meat. This, coupled with the growing demand for high-quality cattle products, is a key factor fueling market growth.
Furthermore, the reduction of grazing land for animals due to inadequate wildlife management practices is contributing to market expansion worldwide. Besides this, farmers are increasingly prioritizing natural and organic forage to enhance livestock health and nutrition, supported by favorable government regulations. Moreover, the expanding agricultural industry and advancements in fertilizers present lucrative growth opportunities for industry investors.
In addition to this, numerous leading market players are increasingly investing in R&D efforts to improve product quality. They are also focusing on product innovation, technological advancements, and efficient resource allocation to strengthen sales and profitability.
Leading Companies Operating in the Global Forage Industry:
- 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.
Forage Market Report Segmentation:
The report has segmented the market into the following categories:
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
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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