Asia Pacific is the third largest forage seed market after North America and Europe. There is a tremendous increase in demand for dairy and meat products in the Asian region due to increase in population which has supported the rise in demand of forage seed in the market.
The Asia Pacific Forage Seed Market is expected to grow at a CAGR of 9.2% to reach USD 3.14 billion in 2021 from USD 2.02 billion in 2016.
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The forage seed production in Asia pacific is insufficient and is unable to make up with the domestic demand.Hence, forage seeds are imported from the other regions.
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- By Product Type
- o Chicory
- o Ryegrass
- o Clover
- o Alfalfa
- o Others (Including lablab, fescue.)
- By Livestock Type
- o Cattle
- o Swine/pork
- o Poultry
- o Others (Including aquaculture.)
Plants obtained from forage seeds are chicory, Ryegrass, Alfalfa, Timothy, Clover, Bent grass, Birdsfoot trefoll. the seeds are first obtained from plants and then purified by seed grower or conditioners.
There is high demand of livestock feed production which is fulfilled by forage seeds. Manufacturers plant pastures and hayfields by using legumes and grass seeds (types of forage seeds).
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Emerging per capita income, increase in population, increase in breed cattle demand for feed, shrinkage of land for grazing animals, government subsidies and increased demand for animal and dairy products are the key drivers for the market in Asia pacific region. Low potential of the current available forage seeds is the major drawback.
Mainly the market is segregated in terms of livestock type, namely, cattle, swine/pork, poultry and others (Including aquaculture.). Poultry segment holds the largest share in the market, poultry farms are concentrating on quality seeds for better productivity as the demand for meat and eggs is increasing.
Classification is also done based upon the plant type into chicory, ryegrass, clover, alfalfa and others (Including lablab, fescue.). Among these alfalfa segment is the largest contributor to the market.
Major companies leading the Asia Pacific market are Hancock Farm & Seed Co., Golden Acre Seeds, Dynamic Seeds Ltd., Northstar Seed Ltd., Brett young, Moore Seed Processors, Foster’s Seed and Feed, Allied Seed, LLC, BASF SE and Dow AgroSciences LLC.
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