Forage Feed Market – Industry Demand Stratergies 2019

 

The report “Forage Feed Market –Global Industry Trend Analysis and Forecast”, has been readied dependent on a top to bottom market investigation with contributions from industry specialists.

 

The development of forage harvests has ecological advantages also. It adds to nourishment crop generation by moderating soil, shields the earth from contamination, and aides revegetate debased land. Forage feed is additionally utilized for their protein content in therapeutic and pharmaceutical products.  The forage feed market has been showing noteworthy development over the recent years. This is because of flooding meat utilization all inclusive, extension of homestead creature generation, and expanding practices of directing forage feed to creatures for their wholesome substance.

 

 

Almost 26% of the world’s land and 70% of world’s agricultural land is covered by grasslands, as per statistics from the UN Food and Agriculture Organization. This provides livelihood to millions of people for livestock rearing for milk, meat, wool, hides, eggs, and animal power. Forage crops are broadly classified as temporary meadows, permanent meadows, annual crops, and crops. Permanent meadows involve land to be used for five years or more. They mainly grow perennial legumes and grasses. Temporary meadows involve the land to be used for a period of fewer than five years for growing forage. Annual crops are high-yield grains such as wheat, maize, and sorghum.

 

However, the high cost factor of forage feed is leading consumers to lookout for cheaper substitutes. For example, in the U.S., in 2013, the consumption of distillers grains was registered to be much higher over forage feed due to its economical cost factor. Furthermore, lack of funding for forage research is also restraining the market’s growth. Nevertheless, with surging product innovations, the forage feed market is expected to be benefitted.

 

The global forage feed market was valued at US$85.06 bn in 2013. Expanding at a CAGR of 11.4% between 2013 and 2019, the market is forecast to be worth US$162.87 bn by the end of 2019.