Forage Market Size Worth $ 1,261.13 Million By 2032 | CAGR: 5.0%

The global forage market size is expected to reach USD 1,261.13 million by 2032, according to a new study by Polaris Market Research. The report “Forage Market Share, Size, Trends, Industry Analysis Report, By Crop Type (Cereals, Legumes, and Grasses); By Product Type; By Animal Type; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Growing concerns about climate change and environmental sustainability that have led to increased interest in sustainable agriculture practices, including the use of forage crops and significant advancements in technology such as precision agriculture, genetically modified crops, and improved forage varieties, are among the major prominent factors driving the market growth.

The exponential growth in the global population and rising consumption of dairy and meat products have encouraged key market players to develop products with longer shelf life and improved characteristics, propelling the market. For instance, in October 2022, Lallemand Animal Nutrition unveiled its newest product line of Magniva Forage Inoculants, which puts the producers in better control of their silages. The newly developed products have been proven to maximize dry matter, feed digestibility, aerobic stability, and nutrition retention.

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Furthermore, many companies that manufacture several types of agricultural equipment have been working on a new balder model, which compresses the forage into small cubes during harvest. As the machines are not completely optimized, the end result they provide represents high technological advances, creating huge potential and expansion opportunities for the market.

Animal rearing has become a crucial sector of the agricultural industries mainly because of the rising affluence, rapid rate of urbanization, constant demographic changes, and surge in need for protein-concentrated food items. A growing number of farmers are choosing appropriate quantities of forage for their livestock to effectively manufacture desired high-quality products and shifting farmers’ focus from sustenance to commercial farming with enhanced product characteristics and capabilities.

Forage Market Report Highlights

• Legumes segment accounted for the largest market share in 2022 on account of its widespread adoption among farmers due to its ability to be growing in several climates and being cost-effective as well
• Stored storage segment held the significant market revenue share in 2022, which is mainly driven by continuous development in storage technology and systems allowing farmers to store products for longer period
• Poultry segment is projected to grow over the anticipated period, mainly due to the growing number of health-conscious consumers who are looking for organic products
• North American region dominated the global market for forage in 2022, owing to the quick adoption of improved production techniques and growing consumer awareness about the health benefits of the product
• The global key market players include Eurofins Scientific, Testing Laboratories, Cargill Incorporated, Standlee Premium Products, Forage Genetics International, and RJ Hill Laboratories

Polaris Market Research has segmented the forage market report based on crop type, product type, animal type, and region:

Forage, Crop Type Outlook (Revenue - USD Million, 2019 - 2032)

• Cereals
• Legumes
• Grasses

Forage, Product Type Outlook (Revenue - USD Million, 2019 - 2032)

• Stored Forage
• Fresh Forage

Forage, Animal Type Outlook (Revenue - USD Million, 2019 - 2032)

• Ruminants
• Swine
• Poultry
• Cattle
• Others

Forage, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Forage Market Report Scope