(EMAILWIRE.COM, December 27, 2017 ) The Latin America forage seed market is expected to grow at a CAGR of 8.93% to reach USD 1.47 billion in 2021 from USD 0.96 billion in 2015. Latin America is one of the leading player in the global forage seed market and agricultural market, it accounts for a major share in the global market. Argentina, Brazil, Chile, Uruguay and Colombia are the major producers of the seeds. Brazil followed by Argentina has the largest numbers of cattle which increases the demand for forage seeds in the countries.
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Forage seeds as well as plants are consumed by the grazing livestock. Major plants obtained from these seeds are Timothy, Birdsfoot trefoll, chicory, Clover, Alfalfa and Ryegrass. Livestock feed demand is fulfilled by these seeds; hence production of the seeds depends upon the type of crops required. After obtaining from plants these seeds are purified by the seed grower or conditioners to get maximum potential of the seeds.
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Market Segmentation
By Product Type
By Livestock Type
Geographical Analysis
Major drivers are increase in population, rise in demand of meat and egg, increase in disposable income and urbanization. The price of forage seeds is lower as compared to other oil seeds which favors the growth. Emerging livestock sector has increased the demand for forage seeds. Poor quality of available forage seeds is restraining the market.
Mainly the market is segregated in terms of livestock type, namely, cattle, swine/pork, poultry and others (Including aquaculture etc.). Poultry segment holds the largest share in the market, poultry farms are concentrating on quality seeds for better productivity as the demand for meat and eggs is increasing. Classification is also done based upon the plant type into chicory, ryegrass, clover, alfalfa and others (Including lablab, fescue etc.). Among these alfalfa segment is the largest contributor to the market.
Major companies leading the Latin America market are Hancock Farm & Seed Co., Golden Acre Seeds, Dynamic Seeds Ltd., Northstar Seed Ltd., Brett young, Moore Seed Processors, Foster’s Seed and Feed, Allied Seed, LLC, BASF SE and Dow AgroSciences LLC.
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