Forage Feed Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 96.85 Billion |
| Market Size (2029) | USD 120.69 Billion |
| CAGR (2024 - 2029) | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Forage Feed Market Analysis
The Forage Feed Market size is estimated at USD 96.85 billion in 2024, and is expected to reach USD 120.69 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).
- Forage plays a significant role in the agriculture sector by improving crop diversity, wildlife habitat, and soil ecosystem. If the proper crop is selected and carefully managed, forage feed can be a valuable tool for growers as they are highly nutritious and productive.
- The increased number of livestock is anticipated to support the growth of the market studied. For instance, as per FAOSTAT, the number of swine in stock across the world stood at 978.7 million in 2021, which increased to 979.0 million in 2022. This increase in the number is expected to boost the consumption of forage feed, as farm animals receive calories, fiber, and necessary protein from it
- Furthermore, various research and development activities and experiments are being undertaken to improve the overall efficiency and intake of forage feed. For instance, to assess the effects of sulfur on forage feed, ICL conducted a series of product experiments in December 2022 comparing mineral fertilizer polysulfate to standard farm practice nitrogen/sulfur products. ICL found that the polysulfate-treated strips produced, on average, an 11.24% increase in dry matter compared to the standard farm practice. Also, polysulfate-treated grass contained, on average, 9.72% more sugars, making it more palatable to livestock.
- Moreover, with the growing demand for forage feed supplies in the livestock industry, authorities are taking initiatives that are anticipated to pave the way for future market growth. For instance, in 2022, DeLaval launched a new version of its OptiDuo feed-pushing robot, claiming the new model can add up to three liters of milk per cow daily. The OptiDuo remixes forage to make it more palatable and reduce waste. A twin-spiralled rotating auger and adaptive drive function enable a variety of forage types to be mixed and made available to cows 24 hours a day.
- Therefore, with factors such as growth in livestock stocks, increasing research and development, and technological innovation, the market studied is anticipated to grow over the coming years.
Forage Feed Market Trends
Ruminants Hold a Significant Share by Animal Type
The consumption of animal products, such as milk and meat, is increasing across the world, which is attributed to the increasing awareness of the health benefits of milk and the higher demand for meat protein. The demand for quality products is increasing the demand for quality feed, which, in turn, is driving the market for forage crops, as farmers are choosing good-quality forage for livestock to produce high-quality animal products.
Furthermore, there has been an increasing demand for milk around the world, and to meet this demand, the cattle population is increasing, which, in turn, is driving the market for forage feed. For instance, as per FAOSTAT, the number of cattle in stock globally stood at 1,531.4 million in 2021, which increased to 1,551.5 million in 2022.
Moreover, ruminants are herbivorous animals that are highly dependent on forage crops. Thus, to meet the growing need for ruminant feeds, farmers are resorting to forage feed to keep these animals healthy so that nutritious and good-quality animal products can be provided to the consumers.
In addition, forages act as the base ingredient in dairy cattle, providing them with fiber and roughage. The quality of forage helps in increasing animal production and health. Ruminants such as cows are fed with forage-silages- and hay with high feed value, which enhances nutritional needs in the diet. In turn, the nutritional diet will enhance the quality of milk in ruminants, thus driving the forage feed market during the forecast period. Increasing consumption of milk in developing countries is one of the major drivers that is expected to gear up the forage feed market during the forecast period.
North America Holds a Significant Share
North America is one of the significant regions in the forage feed market due to its well-organized agricultural industry, considerable livestock sector, and focus on technology-enabled farming research. All this is facilitated by the sizable amount of arable acreage and favorable climatic conditions that are conducive to the growth of various forage crops, such as alfalfa and corn silage, along with multiple types of grass.
Canada and the United States have a large number of producers and consumers. Thus, the two countries have extensive dairy and beef production. They satisfy their own needs and export significant amounts of high-quality products to markets across the world.
Furthermore, technology, such as precision farming, GM crops, and hi-tech machinery for harvesting, are anticipated to increase the yield and quality of forage in the countries in North America. With active protection of the environment and one of the most sustainable agriculture and livestock production due to the regulatory policies, the region holds a significant forage feed market share.
In addition, initiatives are taken in the region that are anticipated to support the growth of the market studied. For instance, in May 2023, the United States Department of Agriculture (USDA) announced the modification of the Annual Forage Insurance Program to make it more sustainable and to allow producers more flexibility. This includes allowing producers to choose the areas that they insure rather than being required to insure all eligible acres.
Moreover, there is a surge in the livestock population due to the increased demand for animal products in the region. Along with this, the protein content of forage feed that is considered beneficial in livestock farming is anticipated to support the growth of the forage feed market in North America.
Forage Feed Industry Overview
The forage feed market is fragmented, with players such as ADM, Wilbur Ellis Holdings Inc., Standlee Premium Products LLC, Al Dahra ACX Global Inc., and Riverina Australia Pty Ltd. The players in the market have been involved in many strategic activities to increase their market share. They are focused on new product launches, mergers and acquisitions, and expansions to cater to a wider consumer base.
Forage Feed Market Leaders
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ADM
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Wilbur Ellis Holdings Inc
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Standlee Premium Products, LLC
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Al Dahra ACX Global Inc.
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Riverina Australia Pty Ltd
*Disclaimer: Major Players sorted in no particular order
Forage Feed Market News
- September 2023: MAS Seeds launched a new range of forage mixtures and specialized blends, including MAS4 NUTRI forage, which is rich in legumes and would be used to increase animal diet.
- June 2023: The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) entered agreements with 13 leading local companies to establish partnerships in selling and marketing high-quality grass and concentrated feed.
Forage Feeds Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Growing Livestock Population
- 4.2.2 Area Under Forage Production is Increasing
- 4.2.3 Increasing Demand for Animal Products
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4.3 Market Restraints
- 4.3.1 Competition Amongst Industries and High Input Prices
- 4.3.2 Growing Shift Toward Vegan-Based Diet
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Products
- 5.1.1 Stored Forage
- 5.1.2 Fresh Forage
- 5.1.3 Other Products
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5.2 Animal Type
- 5.2.1 Ruminants
- 5.2.2 Poultry
- 5.2.3 Swine
- 5.2.4 Other Animal Types
-
5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.1.4 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Russia
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 South Korea
- 5.3.3.5 Rest of Asia-Pacific
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East and Africa
- 5.3.5.1 United Arab Emirates
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 South Africa
- 5.3.5.4 Egypt
- 5.3.5.5 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Market Share Analysis
- 6.2 Most Adopted Strategies
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6.3 Company Profiles
- 6.3.1 ADM Alliance Nutrition
- 6.3.2 Triple Crown Nutrition
- 6.3.3 Lucerne Farms
- 6.3.4 Al Dahra ACX Global Inc.
- 6.3.5 NWF Agriculture
- 6.3.6 Standlee Premium Products LLC
- 6.3.7 Wilbur-Ellis Holdings Inc.
- 6.3.8 Riverina Australia Pty Ltd
- 6.3.9 Chaffhaye
- 6.3.10 Baileys Horse Feeds
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Forage Feed Industry Segmentation
Forage feed consists of crops that can be fed directly to livestock or slightly processed by partial drying or pre-digestion.
The report covers an extensive study of segments and factors driving the growth of the commercial forage feed market. The forage feed market is segmented by products (stored forage, fresh forage, and other products), animal type (ruminants, poultry, swine, and other animal types), and geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report offers the market estimation and forecast for the market in value (USD) for the above-mentioned segments.
| Products | Stored Forage | |
| Fresh Forage | ||
| Other Products | ||
| Animal Type | Ruminants | |
| Poultry | ||
| Swine | ||
| Other Animal Types | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Russia | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| South Africa | ||
| Egypt | ||
| Rest of Middle East and Africa |
Forage Feeds Market Research FAQs
How big is the Forage Feed Market?
The Forage Feed Market size is expected to reach USD 96.85 billion in 2024 and grow at a CAGR of 4.5% to reach USD 120.69 billion by 2029.
What is the current Forage Feed Market size?
In 2024, the Forage Feed Market size is expected to reach USD 96.85 billion.
Who are the key players in Forage Feed Market?
ADM, Wilbur Ellis Holdings Inc, Standlee Premium Products, LLC, Al Dahra ACX Global Inc. and Riverina Australia Pty Ltd are the major companies operating in the Forage Feed Market.
Which is the fastest growing region in Forage Feed Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Forage Feed Market?
In 2024, the North America accounts for the largest market share in Forage Feed Market.
What years does this Forage Feed Market cover, and what was the market size in 2023?
In 2023, the Forage Feed Market size was estimated at USD 92.49 billion. The report covers the Forage Feed Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Forage Feed Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Forage Feeds Industry Report
Statistics for the 2024 Forage Feeds market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Forage Feeds analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
