IMARC Group, a leading market research company, has recently releases report titled, “United States Forage Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the forage market in US share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the United States forage market?
The United States forage market is projected to exhibit a growth rate (CAGR) of 5.30% during 2023-2028.
What is forage?
Forage refers to searching for and collecting food sources for livestock, particularly grazing animals such as cattle, sheep, and goats. It involves the animals actively seeking out and consuming vegetation such as grass, clover, and other plants that serve as their primary food source. It is essential in maintaining the health and productivity of livestock. It provides essential nutrients for the animals’ growth and well-being, including vitamins, carbohydrates, proteins, and minerals. Additionally, it is essential in sustainable farming practices and can help reduce the reliance on concentrated feeds and promote natural, pasture-based livestock management. Consequently, forage is gaining immense popularity across the region.
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What are the growth prospects and trends in the United States forage industry?
The United States forage market is primarily driven by the growing awareness of animal nutrition. In addition, livestock owners and producers are aware of the importance of animal nutrition in ensuring healthy and productive livestock, thus influencing market growth. High-quality forage is essential for a balanced animal diet, thus escalating the demand for improved forage varieties. Moreover, the growing livestock industry, including cattle, dairy, poultry, and swine production, represents another major growth-inducing factor. As the demand for meat and dairy products continues to rise domestically and internationally, livestock producers seek high-quality forage to feed their animals, resulting in rising demand for forage crops such as alfalfa, clover, and grasses. Besides this, the significant expansion in the dairy industry relies on forage crops such as alfalfa and clover to provide nutrition to dairy cows for milk production, thus accelerating the product adoption rate. Furthermore, several government agencies, universities, and agricultural research institutions support forage research and development (R&D), resulting in the introduction of new and improved forage varieties that are more productive and disease-resistant, thus propelling market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Crop Type Insights:
- Cereals
- Legumes
- Grasses
Product Type Insights:
- Stored Forage
- Fresh Forage
Animal Type Insights:
- Ruminants
- Swine
- Poultry
- Others
Breakup by Region:
- Northeast
- Midwest
- South
- West
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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