The growing inclination towards organic animal feed is expected to bolster the healthy growth of the market, states Fortune Business Insights, in a report, titled “Forage Maize Seed Market Size, Share & Industry Analysis, By Product Type (Fresh Forage, Stored Forage [Silage, Hay]), By Application (Cattle, Poultry, Swine, Others) and Regional Forecast, 2022-2029.” The growing awareness about animal welfare is expected to bolster the healthy growth of the market.
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Rising Demand for Organic Meat to Boost Market Growth
The growing popularity of organic meat and meat products can have an excellent effect on the global market in the forthcoming years. The rising inclination of forage seeds such as maize, alfalfa, chicory, and many others in animal feed preparation is expected to subsequently enable speedy expansion of the market. Furthermore, the good profit margin associated with the cultivation of forage maize is predicted to increase the sale of forge maize seed among growers, which, in turn, will aid the development of the market. Moreover, the expansion of cultivation areas owing to heavy food demand is expected to further promote the growth of the market in the forthcoming years. According to the Food and Agriculture Organization of the United Nation (FAO) the area under maize cultivation has increased from 190 million ha in 2015 to 193 million ha in 2018. In addition, the increasing cultivation of maize forage as a rotational or inter-crop is predicted to spur business opportunities in the forthcoming years.
However, the diminishing seed yields due to soil erosion is expected to restrict the growth of the market in the foreseeable future.
Inflated Milk Demand to Aid Expansion in North America
The market in North America is expected to grow excellently during the forecast period owing to the growing consumer inclination towards organic meat. The increasing demand for milk and dairy products is expected to foster the growth of the market in the region. Moreover, the high production of maize especially in the U.S is likely to favor the healthy growth of the market during the forecast period. According to the Food and Agriculture Organization of the United Nation (FAO), the total area under the cultivation of maize in the U.S. was about 33 million hectares in 2018. The market in Asia Pacific is expected to experience a substantial growth rate owing to the high demand for meat. The growing disposable income in the developing nations is expected to further spur opportunities for the market. The increasing awareness about the nutritional value of meat and meat products is expected to boost the growth in Asia Pacific. The booming poultry and cattle production is expected to further incite the growth of the market in the region.
February 2018: DLF announced that it has acquired the assets of Gapp Semillas S.A. This acquisition is anticipated to help DLF Company to increase its prominence in the Latin American Market.
September 2016: Spanish multinational company, Semillas Fitó, announced that it has signed an agreement with Valley Seeds to introduce new forage seeds in the European market
The Report Lists the key Companies in the Forage Maize Seed Market:
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