The North America forage seed market estimated to be 3.83 billion US$ in 2016 and expected to reach 5.64 billion US$ by 2021 at a CAGR of 8.05% during the forecasted period 2016-2021.
North America is the largest market and the growth is increasing due to rise in demand.
US specifically is the largest producer and exporter of forage grass and seed in the world. North America market is geographically segmented into USA and Canada.
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Forage seeds are used for growing several plants like Timothy, Bent grass, Alfalfa, chicory, Birdsfoot trefoll and many more. After obtaining from plants these seeds are purified by the seed growers or conditioners to increase its potential.
Mainly these are consumed by the livestock, hence major users are dairy farms, forage farmers and millers.
Livestock feed production is increasing which is fulfilled by forage seeds. Crop rotation and risk diversification are few benefits fueling the growth of the market.
Forage seeds are low in price when compared to the other oil seeds. Less nutritious seeds and weeds spoiling the crops are few drawbacks for the market.
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Mainly the market is segregated in terms of livestock type, namely, cattle, swine/pork, poultry and others (Including aquaculture etc.). 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 etc.). Among these alfalfa segment is the largest contributor to the market.
Leading companies in North America 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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