ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has released a new market research document examining the global forage seed market. The research report is titled “Global Forage Seed Market- Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020” and analyzes the forage seed market by applying reliable analytical tools to detailed data gathered from trustworthy sources.
The report estimates that the global forage seed market, worth close to US$10789.3 million in 2014, is expected to reach a value of US$17,508.5 million by 2020. This strong growth, translating to a CAGR of 8.4% during the forecast period, is attributed to an increasing global demand for a wide variety of meat and dairy products.
The report classifies the global forage seed market on the basis of product type, the type of livestock to which it is fed, and the geographical distribution of the market. Alfalfa held a dominant share in the segmentation by product category, leading the categories of clover, ryegrass, chicory, and others. The latter, including seeds such as lablab and fescue, is expected to exhibit the highest growth rate 12.4% during the forecast period.
The livestock category of poultry dominated the market, comfortably leading the category of cattle and pork/swine. These two, prevalent in many cuisines worldwide are expected to remain the market leaders, due to incessant demand for dairy products such as milk, butter and cheese, as well as poultry products such as chicken and eggs.
China, India, Ireland, The U.S., Canada, Brazil and France were the leading geographical segments within global forage seed market in 2014. The dominance of these countries, each holding significant reserves of diverse livestock, is expected to continue during the forecast period.
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Transparency Market Research is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.