The global forage feed market has been undergoing noteworthy development in the past few years. This can be accredited to the progression in farm animal production, upsurge in the global meat intake, and growing awareness regarding the health aids of forage feed in animals. The global forage feed market is anticipated to magnify at a CAGR of 11.4% from 2013 to 2019. The market which was appreciated at US$85.06 billion in 2013 is likely to be worth US$162.87 billion by 2019.
Forage feed is the edible stem and leaves of a plant. Pasture is also a sort of forage. Grazing cattle consume these parts of a plant to get their nutrients. Apart from nurturing animals, these are also used to avert soil erosion and preserve land. Approximately 200 plant species have been branded as forage yields. The market for forage is fragmented as fresh forage and stored forage. Fresh forage offers the premier quality and the most appetizing feed imaginable. Stored forage is reaped as hay and can be hewed and packed.
Profits from forage crops are not just restricted to livestock creation. They also back food crop production by preserving soil, landscape and wildlife, guarding the environs from pollution, and re-vegetating and retrieval of ruined land. They are also bases of high quality proteins for medical and pharmaceutical produces. The intake of forage has numerous benefits such as improved rumination, high fiber content, and high protein content, which are all very dynamic for the good health of animals. Furthermore, it has been found that fodder consumption increases the performance of animals and also reproduction.
The high demand for meat is additional aspect motivating the demand for forage feed. Furthermore, the growing demand for organic meat amongst the health conscious population base is additionally pushing the demand for forage feed. Thus, the global forage feed market is slated to grow suggestively over the upcoming years. On the other hand, features such as dearth of funding in research and development undertakings in this field are seen to obstruct the growth of the market. Inclination for substitute feeds or forage substitutes will also test the growth of the market.
The increasing health consciousness amongst people is instigating them to request livestock products with no antibiotics, growth hormones, and similar other drugs. The significant companies functioning in the global forage feed market are thus obliged to concentrate on evolving products that decrease the need for add-on drugs in animals, thus satisfying consumer requests.
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