Forage Feed Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Albany, NY -- (SBWIRE) -- 01/13/2015 -- Transparency Market Research announces the release of a report titled "Forage Feed Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019". The report states that the global forage feed market stood at a value of US$85.06 billion in 2013 and will grow to be worth US$162.87 billion in 2019. In terms of revenue, the forage feed market is expected to record a CAGR of 11.4% during the forecast period, whereas in terms of volume, the market is projected to register a 9.2% CAGR.
The forage feed market has been segmented on the basis of three parameters: product type, livestock type, and region. By product, the forage feed market is classified into stored forage, fresh forage, and others. The main types of livestock include poultry, pork/swine, aquaculture, cattle, and others. Geographically, the forage feed market is divided into four key regions: North America, Europe, Asia-Pacific, and Rest of the World.
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In terms of product type, the stored forage feed segment led the market in 2013 as far as revenue was concerned. This segment accounted for 41.5% of the forage feed market share. On the other hand, the fresh forage feed segment is estimated to register a CAGR of 11.6% during the forecast period. Revenue-wise, the poultry segment of the forage feed market led the scene, accounting for 33.1% of the market share in 2013. The pork/swine segment was the second-largest segment, generating 29.1% of the forage feed revenue in 2013. The rising demand for organic meat is expected to propel the cattle segment to grow at an 11.7% CAGR from 2013 to 2019.
Region-wise, Asia-Pacific emerged as the leader of the global forage feed market, accounting for 34.2% of total revenue generation in 2013. With big-time contributors such as India, China, and Japan, the regional market is projected to register an 11.8% CAGR during the forecast period, making it the most promising segment of the forage feed market. Europe was the second-largest regional market in 2013, enjoying 28.1% of the global revenue share.
The global forage feed market has been witnessing significant expansion over the years owing to surge in global meat consumption, rise in awareness regarding health benefits of forage feed in animals, and growth in farm animal population. On the other hand, the presence of and escalating demand for substitutes and inadequate funding for forage feed research are expected to hinder the global market.
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The report provides exclusive competitive intelligence about the leading players of the forage feed market. It presents historic, current, and forecast figures of the various forage feed companies in terms of volume and value, market share, brand contribution, retail distribution, product portfolio, and key trends, strengths, challenges, and opportunities. The vendors dealing in forage feed covered under the research report include BASF SE, Semican, Inc., NWF Agriculture Limited, Standlee Hay Company, Inc., Triple Crown Nutrition, Inc., J. Grennan and Sons, Cargill, Incorporated, The Pure Feed Company Limited, Brett Young Seeds, ADM Alliance Nutrition, Inc., Baileys Horse Feeds, and Chaffhaye, Inc.
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