What are the Projections for the Growth of the Global Herbage Market?
The herbage market size has witnessed substantial growth in recent years. It stood at $9.34 billion in 2024 and is projected to surge to $10.16 billion in 2025, growing at a compound annual growth rate (CAGR) of 8.7%. This historical growth can be attributed to factors such as increased consumer awareness, cultural and dietary shifts, traditional medical uses, past agricultural practices, and significant historical research and development efforts.
The herbage market is expected to expand significantly in the future, with forecasts predicting it will reach $13.82 billion in 2029 at a CAGR of 8.0%. This anticipated growth can be credited to regulatory developments, a surge in demand for herbal supplements, expanded research and development initiatives, shifting consumer preferences, and a positive global economic outlook. Trends projected for the forecast period encompass product innovation, cultural shifts and culinary trends, novel product offerings, and a strong focus on environmental sustainability.
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What are the Factors Driving the Growth of the Herbage Market?
The surging dairy industry stands as a primary driver for the herbage market’s growth. The dairy industry includes the production and processing of all milk products at dairy farms or plants. Here, herbage is utilized as materials for grazing animals which result in greater milk production. For instance, data from the Department for Environment, Food & Rural Affairs, a UK-based government agency, showed that UK dairies processed 1,143 million litres of milk in August 2024. Hence, the expanding dairy industry is anticipated to drive the herbage industry forward.
What are the Major Segments within the Global Herbage Market?
1) By Ingredient: Protein Meals And Cakes, Cereals And Grains, Brans, Additives, Agro-Industrial By-Products
2) By Application: Beef Organic Ruminant, Dairy Organic Ruminant, Calves, Other Applications
3) By End User: Feed, Fodder, Agro-Based, Other End Users
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Which Key Companies are Strategically Positioned in the Herbage Market?
Major companies operating in the herbage market include Cargill Incorporated, Kreamer Feeds Inc., Scratch, and Peck Feeds, Country Heritage Feeds, ForFarmers, Green Mountain Feeds, Feedex Companies, SunOpta, Ranch-Way Feeds, MEGAMIX LLC, Aus Organic Feeds, Purina Animal Nutrition LLC, and many more.
What are the Key Trends Emerging in the Herbage Market?
Product innovation is a notable trend in the herbage market. Companies are developing innovative products to maintain their competitive edge. For example, in July 2022, Fyteko, a Belgium-based agricultural technology company, and Cerience, a France-based agronomist seed producer, introduced NURSEED HC, a hydroxycinnamic oligomer discovered in plant cell walls that can be applied to forage seeds. This innovative seed treatment can help stressed seedlings emerge robustly, thus promising high yields.
Which Region Holds the Largest Share in the Herbage Market?
Asia-Pacific was the largest region in the herbage market in 2024. The other regions analyzed in this research report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Herbage Market Report 2025 Offer?
Herbage refers to vegetation that is herbaceous, used to provide food for grazing animals. The Herbage Market research report from The Business Research Company offers comprehensive data including global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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