May 08, 2024 (MENAFN via COMTEX) --
(MENAFN - EIN Presswire)
The forage feed market is anticipated to grow at a CAGR of 2.29% from US$34.757 billion in 2022 to US$40.723 billion by 2029.
The forage feed market is anticipated to grow at a CAGR of 2.29% from US$34.757 billion in 2022 to US$40.723 billion by 2029." - Knowledge Sourcing IntelligenceNOIDA, UTTAR PARDESH, INDIA, May 7, 2024 /EINPresswire / -- According to a new study published by Knowledge Sourcing Intelligence, the forage feed market is projected to grow at a CAGR of 2.29% between 2022 and 2029 to reach US$40.723 billion by 2029.
Forage feed fundamentally covers the plant materials with its edible components excluding the grains separated for animal feeding or grazing. It consists of browse, herbage, and mast. The cow-calf and backgrounding sub-sectors of the beef industry primarily depend on forages, an array of grasses, legumes, forbs, and shrubs.
Forage can be stored by drying the plants that generate the hay, it may be fermented to yield silage and dried components also consist to bring out compacted hay, cubes, and pellets. The forage feed is the beneficiary in the agricultural sector if it's harvested wisely by the farmers. These feeds consist of various nutritional elements like protein, fiber, and vitamins that provide enriched and healthy feed to
cattle and cows. The best plants that can be harvested or used for grazing are soybeans, corn, sorghum, etc.
The growing innovative technologies are the primary driving force behind the forage feed market growth. For instance, in January 2024 Masseeds initiated a satellite technology that assists farmers in increasing the silage harvest utilizing satellite technology. Through this satellite technology, the farmers will be able to get updates regarding dry matter progression in
corn crops. This helps the farmers to make accurate decisions to increase feed quality.
The forage feed consists of edible materials of plants, the edible material comprises grain removed plants where those plants are collected and used for feeding for various animals. The materials consist of various categories like herbage, mast, and browse.
Numerous product launches and collaborations are taking place in the market thereby, increasing the forage feed market growth.
.For instance, in July 2023 Ralco introduced Anchor Silage Saver which is a groundbreaking solution for dairy and livestock producers. The inexpensive supplement integrates our patented Microbial Catalyst which gently lowers forage pH faster, leading to effective fermentation and great feed. By improving palatability, digestibility, and energy levels, Silage Saver plays a role in better animal health and enhances the farmers' revenue.
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The forage feed market, based on type is segmented into four categories namely pasture, hay, silage, and haylage. Silage is expected to account for the major share of the forage feed market. The silage provides high nutritional values in dry form and its convenience for storage makes it the best option.
The forage feed market, based on animals is segmented into four categories namely ruminants, poultry , swine , and others. Ruminants is expected to account for the major share of the forage feed market. The ruminant category consists of animals like cows, sheep, and buffalo where these animals have an intricate digestive process and the forage feeds provide a rich fiber and balanced source of nutrients required for the animal's stomach health.
Based on geography, the forage feed market is expanding significantly in the Asia Pacific region due to various reasons. In countries like China, India, Japan, South Korea, and Taiwan there is a growing demand for forage feed in favorable industries, including animal nutrition, logistics, agriculture, and equipment manufacturing. The demand is being driven by these nations is due to increased demand for dairy and animal products in the region and government subsidies in animal welfare and crop yielding in the region propels the forage feed market in the future.
The research includes several key players from the forage feed market, such as ADM, Standlee Premium Products, LLC, Riverina, BASF SE, Al Dahra ACX Global Inc., JOHNSTON SEED COMPANY, Lucerne Farms, and Tripple Crown Nutrition.
The market analytics report segments the forage feed products market as follows:
.By Type
oPasture
oHay
oSilage
oHaylage
.By Animal
oRuminants
oPoultry
oSwine
oOthers
.By Geography
oNorth America
.USA
.Canada
.Mexico
oSouth America
.Brazil
.Argentina
.Others
oEurope
.Germany
.France
.United Kingdom
.Spain
.Others
oMiddle East and Africa
.Saudi Arabia
.Israel
.Others
oAsia Pacific
.China
.Japan
.India
.South Korea
.Indonesia
.Taiwan
.Others
Companies Profiled:
.ADM
.Standlee Premium Products, LLC
.Riverina
.BASF SE
.Al Dahra ACX Global Inc.
.JOHNSTON SEED COMPANY
.Lucerne Farms
.Tripple Crown Nutrition
Explore More Reports:
.Feed Premix Market:
.Feed Protein Market:
.Global Poultry Feed Premix Market:
Ankit Mishra
Knowledge Sourcing Intelligence LLP
+1 850-250-1698
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