Forage Feed Market Size, Share, Opportunities, And Trends By Type (Pasture, Hay, Silage, Haylage), By Animal (Ruminants, Poultry, Swine, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Jun 2023
- Report Code : KSI061615524
- Pages : 140
The forage feed market size was valued at US$34,333.278 million in 2021 and is expected to grow at a CAGR of 2.09% to reach US$39,691.091 million by 2028.
Forages, defined as edible plant portions other than separated grain that serve as feed for grazing animals or can be harvested for feeding livestock, play a significant role in the beef cattle sector while improving crop diversity, wildlife habitat, and soil ecosystem services. If the proper crop is chosen and carefully managed, forage feed can be a valuable tool for farmers. This is because they are highly productive and nutritious at their most formative stages of growth. To reduce their negative effects on productivity, pests must also be handled. Maximizing the productive potential of fodder feed requires a carefully thought-out grazing strategy. For instance, to produce hay or silage, forage feed can be made solely for that purpose or grazed first before being set aside for fodder conservation. They have grassroots that can increase the soil's organic matter content, and they are also a good source of vitamins, fiber, and proteins that help animals' metabolisms.
The increasing livestock population is boosting the forage feed demand over the forecast period.
Worldwide milk consumption has been increasing, which has led to an increased cattle population. This is supporting the growth of the forage feed industry as forage serves as the fundamental component for cattle roughage and fiber in dairy cattle. Cattle are given feed that is nutrient-rich to increase the production of milk. The health and enhanced output of the animals depend on the forage's quality. Hay, silages, and forages with a high feed value are fed to various ruminant animals, including cows and buffaloes. The livestock animals receive calories, fiber, and necessary protein from forage seeds. Adding supplement ingredients and more protein increases output while conserving money.
Additionally, a rise in demand for forage feed has been brought on by various government funding and initiatives to support the dairy industry. For instance, the Indian government approved roughly 161 projects for the expansion of the dairy industry in 2021, according to government reports. The same records state that the projects' total permitted cost was approximately US$265 million, of which about US$103 million were needed to complete them.
Increasing investments in research and development activities by government and private bodies is augmenting the market growth.
- Sulfur maximizes the real protein content of forage while also boosting dry matter, which results in improved efficiencies and healthier, more productive animals overall. To assess the effects of sulfur on forage feed, ICL conducted a series of product experiments in December 2022 comparing mineral fertilizer Polysulphate to standard farm practice nitrogen/sulfur products. At 28 locations throughout the UK, ICL conducted trials, some of which were on organic soils. Sites were divided, with one side receiving a treatment of 100 kg per hectare of Polysulphate with nitrogen and the other receiving an application of ammonium sulfate (AS) per conventional farm practice.
- DeLaval launched the second edition of their OptiDuo feed-pushing robot in December 2022. This version can boost daily cow milk output by up to 3 liters. The robot can make rounds through the barn up to ten times daily, replenishing feed supplies and rearranging forage to entice the cattle kept there to consume more food. Due to its twin rotating augers, which can combine different feed types, the new model now offers the option of a concentrate dispenser.
While Asia Pacific contributes significantly to the forage feed market, North America and Europe retain sizeable market shares.
The forage feed industry is expected to increase in the Asia Pacific area due to the rising demand for dairy and animal products as well as the availability of government subsidies. Due to the region's consistently rising population, decreasing pastureland for grazing animals, shifting consumer preferences toward organic food and feed products, and increasing demand for dairy and animal products, the forage feed market is anticipated to expand during the forecasted period. Due to a surge in demand, forage feed cultivation is constantly expanding throughout North America and Europe. Due to the rising demand for beef and chicken, there is also a rise in the population of animals. Along with the effective trade sector, the need for dairy goods and racetracks also drives the forage feed market in North America.
Ruminants is anticipated to hold a sizable share of the forage feed market over the forecast period.
Cattle, such as oxen and bullocks, are grown for their ability to pull plows, carts, and other devices. They are also raised as livestock for meat production and as dairy animals for producing milk, butter, and other dairy products. Cow feces are utilized as fuel or manure. They are reared mostly on a forage-feed diet to boost the diet's energy density. Since cattle are given tiny amounts of hay with grain, soy, and other substances as supplements, the forage feed industry is expected to expand in the cattle livestock sector.
Forage Feed Market Scope:
|Market Size Value in 2021||US$34,333.278 million|
|Market Size Value in 2028||US$39,691.091 million|
|Growth Rate||CAGR of 2.09% from 2021 to 2028|
|Forecast Period||2023 – 2028|
|Forecast Unit (Value)||USD Million|
|Segments Covered||Type, Animal, and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||ADM, Standlee Premium Products, LLC, WILBUR-ELLIS HOLDINGS, INC., Riverina, BASF SE, Al Dahra ACX Global Inc., JOHNSTON SEED COMPANY|
|Customization Scope||Free report customization with purchase|
- By Type
- By Animal
- By Geography
- North America
- South America
- United Kingdom
- Middle East And Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
1.1. Market Overview
1.2. Market Definition
1.3. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis
5. FORAGE FEED MARKET BY TYPE
6. FORAGE FEED MARKET BY ANIMAL
7. FORAGE FEED MARKET BY GEOGRAPHY
7.2. North America
7.3. South America
7.4.3. United Kingdom
7.5. Middle East And Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.2. Standlee Premium Products, LLC
9.3. WILBUR-ELLIS HOLDINGS, INC.
9.5. BASF SE
9.6. Al Dahra ACX Global Inc.
9.7. JOHNSTON SEED COMPANY
WILBUR-ELLIS HOLDINGS, INC.
Al Dahra ACX Global Inc.
JOHNSTON SEED COMPANY
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