Asia Pacific Forage Seed Market Outlook 2031
The Asia Pacific Forage Seed Market size was USD 761.7 Million in 2022 and is likely to reach USD 1.16 Billion by 2031, expanding at a CAGR of 4.88% during 2023–2031. The growth of the market is attributed to its high nutrient content, which helps to improve lactation, reproduction, and health of livestock.
Forage are plants or parts of plants eaten by herbivorous animals. Forage seeds are primarily used by dairy farmers for livestock feeding. They are rich in minerals that aid poultry for bone and eggshell formation.
Clover, chicory, ryegrass, lablab, and fescue are some of the commonly used forage seeds in the global market. To avoid obesity, cholesterol, cancer, unwanted fats, and hypertension, people eat meat of that animals that are fed on forage, which are healthier.
Asia Pacific Forage Seed Market Trends, Drivers, Restraints, and Opportunities
- Increasing milk production is anticipated to drive the market growth during the forecast period.
- Rising business flexibility is expected to spur the market growth during the forecast period.
- Irregular seed germination cycle is estimated to restrict the market growth.
- Lack of favorable government policies for cereal crops and insufficient funding in forage research are some of the factors that can hinder the market growth.
- Absence of seeds and planting materials in developing regions, and reduction in seed yield due to excess soil water, drought, and weed are the major challenges of the market.
- Growing demand for organic meat to maintain a healthy lifestyle is anticipated to create significant opportunities for the market players.
Scope of Asia Pacific Forage Seed Market Report
The report on the Asia Pacific forage seed market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Forage Seed Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Cereals [Forage Corn, Forage Sorghum, and Others], Legumes [Alfalfa and Others], and Grass), Product Types (Stored Forage, Silage, Hay, and Fresh Forage)
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Geographical Scope
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China, India, Japan, Australia and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Allied Seed, LLC.; Foragen Seeds; GenTech Seeds Pty Ltd; Advanta Seeds; Cates Grain & Seed; PGG Wrightson; Limagrain China; and Beijing TopGreen Turf & Forage Co. Ltd.
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Asia Pacific Forage Seed Market Segment Insights
Legumes segment to hold a significant market share
Based on types, the Asia Pacific forage seed market is divided into cereals, legumes, and grass. The cereals segment is segregated into forage corn, forage sorghum, and others. The cereals segment is anticipated to hold a key share of the market in the coming years due to improvement in quality of livestock production.
However, the legumes segment is anticipated to expand at a rapid pace during the forecast period owing to enhancement in the growth rate of the livestock by improving their digestibility and intestinal health. Moreover, legumes can improve the health of animals by providing essential nutrients such as proteins.
Fresh forage segment is anticipated to hold a large market share
On the basis of product types, the Asia Pacific forage seed market is segregated into stored forage, silage, hay, and fresh forage. The silage segment is anticipated to hold a key share of the market in the coming years. Silage is less affected by weather damage as the forage does not lie in the field drying. On the other hand, the fresh forage is expected to grow at a robust rate, as they absorb impurities, and be used for medicines and biofuels.
India is estimated to account a major market share
On the basis of geography, the Asia Pacific forage seed market is classified as India, China, Japan, Australia, and Rest of Asia Pacific. China is expected to constitute a significant share of the market during the projected period due to an increase in demand for forage seed. However, the market in India is anticipated to expand at a rapid pace during the forecast period owing to rising demand for animal feed and dairy products.
Segments
The Asia Pacific forage seed market has been segmented on the basis of:
Types
- Cereals
- Forage Corn
- Forage Sorghum
- Others
- Legumes
- Alfalfa
- Others
- Grasses
Product Types
- Stored Forage
- Silage
- Hay
- Fresh Forage
Geography
- China
- India
- Japan
- Australia
- Rest of Asia Pacific
Key Players
- Allied Seed, LLC.
- Foragen Seeds
- GenTech Seeds Pty Ltd
- Advanta Seeds
- Cates Grain & Seed
- PGG Wrightson
- Limagrain China
- Beijing TopGreen Turf & Forage Co. Ltd.
Competitive Landscape
Key players competing in the Asia-Pacific forage seed market includes Allied Seed, LLC.; Foragen Seeds; GenTech Seeds Pty Ltd; Advanta Seeds; Cates Grain & Seed; PGG Wrightson; Limagrain China; and Beijing TopGreen Turf & Forage Co. Ltd.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
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