Albany, NY -- (SBWIRE) -- 07/16/2014 -- According to a new market report published by Transparency Market Research " Global Forage Feed Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019", the market was valued at USD 11.16 billion in 2012, and is expected to reach USD 15.90 billion by 2019, growing at a CAGR of 5.2% from 2013 to 2019. Lack of adequate power infrastructure and increasing demand for reliable electricity delivery are the major driving forces of this market.
Browse the full Global Forage Feed Market Report: http://www.transparencymarketresearch.com/forage-feed-market.html
The global forage feed market witnessed growth in recent years due to rise in global meat consumption and increase in farm animal population. In addition, health benefits of forage feed in animals is also one of the major growth drivers for forage feed industry. Rising demand for substitutes such as beet pulp, vitamin and mineral concentrates and lack of funding in forage research are the major growth barriers. However, new product innovations such as low fat high quality forages are stimulating market growth.
In 2013, the global forage feed market by livestock type in terms of revenue was dominated by poultry which accounted for 33.1% share of the overall market in terms of revenue, followed by pork/swine that accounted for 29.1% of the market share in terms of revenue. Nowadays due to rising consciousness among consumers regarding meat, people are demanding more of organic meat. Thus, cattle market is expected to grow at a CAGR of 11.7% in terms of revenue from 2013 to 2019. Further, by product type stored forage in terms of revenue dominated the market in 2013 which accounts for 41.5% share of the market while fresh forage market is expected to grow at the rate of 11.6% from 2013 to 2019.
Asia Pacific dominated the global forage feed market and accounted for over 34.2% of the global demand in 2013 in terms of revenue followed by Europe which accounted for 28.1% share for the same year in terms of revenue. Moreover, in the future, Asia Pacific will remain the most promising market with an estimated CAGR of 11.8% in terms of revenue from 2013 to 2019. Economies such as China, Japan and India are expected to be the chief contributors to this growth.
Some of the key players of the market are Triple Crown Nutrition Inc., Semican Inc., The Pure Feed Company Limited and Standlee Hay Company Inc. Standlee Hay Company Inc., ADM Alliance Nutrition, Inc., and Semican Inc.
Forage Feed Market: Product Analysis
Forage Feed Market: Livestock type
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Forage Feed Market: Regional Analysis
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