The global market for forage feed is projected to have a considerable CAGR of around 4.5% during the forecast period. Forages are plants or parts of plants eaten by herbivorous animals. These are mainly the plant leaves and stems consumed by grazing livestock. The price of forage feed is lower as compared to other feeds, such as oilseed and wheat bran and they do not depend on pesticides and synthetic fertilizers. The demand for forage feed is heavily influenced by animal husbandry and livestock. Forage seeds are in high demand due to rising animal feed demands. Over the forecast period, rising per capita meat consumption is predicted to boost demand for forage feed. Farmers particularly prefer the cultivation of these feeds due to the obvious economic benefits, which include risk diversification, crop rotation, soil erosion prevention, and enhanced soil structure. There are some restraints and constraints that will impede overall market expansion such as farmers' reluctance to pay for high-quality seeds, time-consuming cultivation, production uncertainty, and the need for a large investment. 

Segmental Outlook  

The global forage feed market is segmented based on products, and animal type. Based on the products, the market is further classified into stored forage, fresh forage, and others. Further, based on the animal type the market is classified into ruminants, poultry, swine, and others. 

Global Forage Feed Market Share by Animal Type, 2021 (%)

The Ruminants Segment is Considered the Dominating Segment in the Global Forage Feed market. 

Among animal types, the ruminant’s segment is estimated as dominating segment during the forecast period. Within the animal, livestock products group, milk, and milk products hold the dominant share due to their demand. The global consumption of animal products, such as milk and meat, is rising, owing to a growing awareness of the health benefits of milk and the growing demand for protein. The high demand for quality products is increasing the demand for quality forage feed, which, in turn, is driving the market for forage feeds. To obtain high-quality products from their cattle, farmers choose good quality forage for them. As per the FAO, the annual growth of the meat and dairy market in developing countries is projected to be valued at 2.1% and 2.3%, respectively, from 2015 to 2030. Therefore, the growing demand for meat and dairy products is promoting the forage seed market. 

Regional Outlook 

Geographically, the global Forage Feed market is classified into four major regions including North America (the US and Canada), Europe (UK, Germany, France, Italy, Spain, and Rest of Europe), Asia-Pacific (India, China, Japan, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Europe is projected to hold a significant share global forage feed market. Germany and the U.K are the major contributors of poultry products, which, in turn, boost the market growth in this region. Furthermore, the availability of large grazing land for animals and cultivating land for fodder production is giving a push to the growth of the forage seeds market. Furthermore, rising demand for organic food, dairy, and poultry products in the region is expected to propel the forage seed market ahead throughout the forecast period.

Global Forage Feed Market Growth, by Region 2022-2028

North America to Hold a Considerable Share in the Global Forage Feed Market

Geographically, North America is projected to hold a significant share global forage feed market as there is a surge in the livestock population, due to the increased demand for beef and chicken in the region. The consumption of alfalfa hay is beneficial due to its crude protein level, especially for chicken feed, followed by animal feed. The most major agricultural industry in the US is cattle production. Timothy and bromegrass, two commonly grown forage types of grass in Canada, are the most widely produced grass seeds on a global scale.  In addition, in comparison to other North American countries, the US has the most established animal production industry and well-developed feed manufacturing firms, considering it a significant market share. According to USDA, The total amount of hay produced in the country accounted for 128 million metric tons in 2019.

Market Players Outlook

The key players in the forage feed market contribute significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include ADM Alliance Nutrition, Wilbur Ellis Holdings Inc, Mitsubishi Corp, Standlee Premium Products, LLC among others. These market players adopt various strategies such as product launches, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. In November 2020, S&W Seed Company a global agricultural company announced that it has agreed to commercial terms with Calyxt, Inc. In collaboration with Calyxt, S&W Seed Company identified a novel, proprietary trait for increased forage quality in commercial alfalfa production. The new trait, branded as IQ Alfalfa gives farmers a new way to produce alfalfa forage with improved ruminant digestibility for livestock.

The Report Covers

• Market value data analysis of 2022 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Forage Feed market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where in the market.