A recent report published by Infinium Global Research on forage feed market provides in-depth analysis of segments and sub-segments in the global as well as regional forage feed market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional forage feed market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global forage feed market. According to the report, the global forage feed market is projected to grow at a CAGR of 9.7% over the forecast period of 2019-2025.
As per the FAO analysis, global meat production around the world has increased around 5 times after 1961. During 1960s Europe and North America were leading producers of the meat-based products and contributed around 42% and 25% of global meat production. Now, Asia-Pacific is the leading producer of global meat production. Since the 1960's the meat production in the Asia-Pacific region has increased up to 17 times, while in North America and Europe its production increased only 2.5 times and 2 times respectively, till now.
The growing demand for animal-based products is helping to grow the demand for the forage feed market around the world. The growing urbanization and increasing disposable income among the young and middle-class consumers are changing the consumption habit of urban people. These urban people are now demanding more animal-based products to sustain their lifestyle. This is motivating the animal farmers to produce in a large quantity of these products. All these several expectations from different stakeholders will be fulfilled when the dairy animal will get good feed round the year. Forage feed ensures the supply of a sufficient amount of plant material as feed for the animals round the year. However, the lack of awareness about the forage feed among the traditional animal farmers is restricting the growth of this is market for the short term. Further, the growing demand for the different type of lifestyle objects, which comes from the skin, hide, and the fur of the animal is helping to grow this market in the near future.
Geographically, the forage feed market is segmented into the four regions, respectively North America, Europe, the Asia-Pacific, and the RoW. The Asia-Pacific market is the leading player of the forage feed market, owing to the high demand of the forage feed round the year. Further, the continuously increasing disposable income among the young and middle-class consumers are helping to grow this market at the highest CAGR during the forecast period. North America is the second-largest market, after Asia-Pacific for the forage feed market, owing to the presence of a large number of animal husbandry organizations in this region.
The report on global forage feed market covers segments such as product type and livestock type. On the basis of product type, the sub-markets include fresh forage, stored forage, and others forage. On the basis of livestock type, the sub-markets include pork/swine, poultry, cattle, aquaculture, and other livestock types.
The report provides profiles of the companies in the market such as NWF Agriculture Ltd., BrettYoung, Chaffhaye, ADM Animal Nutrition, BASF SE, J Grennan & Sons, The Pure Feed Company, Semican Atlantic Inc, Baileys Horse Feeds, and Cargill, Incorporated.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of forage feed market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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