What is the present valuation and projected CAGR of the forage feed market?
The forage feed market size has grown strongly in recent years. It will grow from $93.89 billion in 2024 to $99.52 billion in 2025 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increase in livestock population, increase in the forage feed supplies to farms animals, rise in demand for dairy and animal products, heightened awareness of animal nutrition and health, and surge in demand for better quality of animal feed.
The forage feed market size is expected to see strong growth in the next few years. It will grow to $124.28 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to shifting consumer preferences toward organic food and feed products, growing demand for high-quality animal feed products, increasing prevalence of intensive livestock farming, increasing demand for seafood, and increasing productive potential of fodder feed. Major trends in the forecast period include enhanced nutritional formulations, precision farming techniques, hydroponic forage cultivation, improved storage and preservation methods, genetically optimized forage crops, sustainable production practices, and digital monitoring for feed efficiency.
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What key drivers have fueled the forage feed market’s development over the years?
The increasing livestock population is expected to drive the growth of the forage feed market going forward. Livestock population refers to the total number of domesticated animals raised for food, fiber, and other agricultural purposes, such as cattle, poultry, pigs, and sheep. It is increasing due to rising global demand for animal-based products, a growing population, and increasing income levels in developing countries, driving the need for more livestock for meat, dairy, and other agricultural industries. Forage feed is essential for livestock as it provides necessary fiber, nutrients, and energy for healthy digestion, growth, and productivity. For instance, in September 2023, according to Swineweb, a US-based online platform for digital information on the North American pork industry, in 2023, feeder cattle imports increased by over 19% year over year, and pork exports are anticipated to rise in 2023, reaching 6.8 billion pounds, marking a 7.2% increase from the previous year. Therefore, the increasing livestock population is driving the growth of the forage feed market.
What is the segmentation for the forage feed market?
The forage feed market covered in this report is segmented –
1) By Type: Pasture, Hay, Silage, Haylage
2) By Animal: Ruminants, Poultry, Swine, Other Animals
3) By Form: Pellets, Cubes, Other Forms
4) By Distribution Channel: Online Stores, Supermarkets Or Hypermarkets, Specialty Stores, Other Distribution Channels
Subsegments:
1) By Pasture: Legume Pasture, Grass Pasture, Mixed Pasture
2) By Hay: Alfalfa Hay, Timothy Hay, Clover Hay, Bermuda Grass Hay
3) By Silage: Corn Silage, Sorghum Silage, Grass Silage, Legume Silage
4) By Haylage: Alfalfa Haylage, Clover Haylage, Grass Haylage, Mixed Haylage
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Who are the most influential companies in the forage feed market?
Major companies operating in the forage feed market are Cargill Inc., Charoen Pokphand Foods PCL, Evonik Industries AG, Land O’Lakes Inc., Royal DSM N.V., J. R. Simplot Company, Nutreco N.V., Trouw Nutrition, Wilbur Ellis Holdings Inc, ForFarmers N.V., Alltech Inc., Standlee Premium Products LLC, Riverina Australia Pty Ltd, Kemin Industries Inc., ADM Alliance Nutrition, NWF Agriculture, Al Dahra ACX Global Inc., Cornext Agri Pvt. Ltd., The Pure Feed Company, Lucerne Farms.
What are the top industry trends projected to impact the forage feed market?
Major companies operating in the forage feed market are focusing on product innovation, such as multi-species forage, to enhance nutritional benefits, improve soil health, and increase livestock productivity. Multi-species forage refers to a diverse mix of forage plants, including grasses, legumes, and other herbaceous species, grown together to provide a balanced and nutrient-rich diet for various livestock species. For instance, in October 2024, Renovo Seed, a US-based seed manufacturing company, launched a new forage mix, OptiHarv. The mix consists of millets, peas, beans, barley, and brassicas, producing significant tonnage for baleage, haylage, or grazing. It offers a high-quality total meat ratio (TMR) and multiple harvests from one field. OptiHarv has excellent yield potential, crude protein levels, relative feed value, and total digestible nutrients. It can be used as a cover crop for producers enrolled in NRCS or carbon programs.
What are the major regional insights for the forage feed market, and which region holds the top position?
North America was the largest region in the forage feed market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the forage feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Forage Feed Market Report 2025 Offer?
The forage feed market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Forage feed refers to the edible parts of plants, excluding separated grains, that are consumed by grazing livestock or harvested for feeding. This includes grasses, legumes, and other herbaceous plants provided as pasture, hay, or silage. It serves as a primary source of fiber and essential nutrients, supporting digestion and overall health. Forage feed can be provided through grazing or harvested and stored for later use.
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