Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Forage Seed Market size is expected to reach $35.4 billion by 2028, rising at a Market growth of 6.9% CAGR during the forecast period.
The Legumes segment is the leading the Global Forage Seed Market by Species 2021, thereby, achieving a Market value of $25.6 billion by 2028. Legume crop leftovers and by-products are major sources of livestock feed, letting the grain be used as food–feed crops for humans. Forages also help to preserve the natural resource base in marginal areas by stabilizing the soil, avoiding soil erosion, and contributing to soil richness through microbial nitrogen fixation and organic matter. Some forage legumes are too used as rotating crops to control diseases and pests of other crops, and also to reduce leaching of nutrients in soils. These factors are augmenting the growth of the forage seed Market .
The Clover segment is showcasing a CAGR of 6.7% during (2022 - 2028). The increasing growth of the segment is attributed to rich protein content and easily digestible fiber of clover product Moreover, white and red clover can also be utilized as a feed for horses, beef cattle, goats, and sheep. In addition, it enhances soil quality & reduces the demand for chemical fertilizers. Clovers are also beneficial to many forage programs because of their enhanced forage development distribution, increased forage output, greater forage quality, and lower nitrogen fertilizer expenditures.
The Poultry segment acquired maximum revenue share in the Global Forage Seed Market by Livestock 2021, thereby, achieving a Market value of $15.1 billion by 2028. Because of socio-economic variables like concerns about human health and shifting socio-cultural values, the demand for cattle products is likely to rise in the future. This is due to the reason that poultry animals need good care & nutrition to produce fresh and healthy meat, which has increased the requirement for forage seed in the poultry business. Furthermore, increased protein intake within consumers drives up the demand for forage seed in the poultry industry. Moreover, because of factors, such as an increase in the human population all over the world, rising disposable income, and rapid urbanization, the growth of this segment is constantly increasing.
The North America is the fastest growing region in the Global Forage Seed Market by Region 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $12.9 billion by 2028. The Europe Market is estimated to witness a CAGR of 6.5% during (2022 - 2028). Additionally, The Asia Pacific Market would experience a CAGR of 7.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/forage-seed-market/
The Market research report has exhaustive quantitative insights providing a clear picture of the Market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the Market have been discussed in the report with the elaborated company profiles of BASF SE, Land O'Lakes, Inc., Central Garden & Pet Company, Corteva, Inc. (Dow AgroSciences LLC), United Phosphorus Ltd. (Advanta Seeds), The Royal Barenbrug Group, Ampac Seed Company, Allied Seed, L.L.C., Hancock Farm & Seed Co., and BrettYoung Seeds Limited.
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