5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
Market Insights
The Canada forage seed market estimated at USD XX billion in 2016 is expected to reach USD XX billion by 2022 at a CAGR of XX% over the forecasted period. As a leading nation in the forage seed market, Canada contributes a major share of XX% across the globe, mostly in the production of the alfalfa seed. In 2013, Canada exported around 100 million lbs of grass and legume seeds. The value of forage seed exports was USD 125 million in 2013 of which, alfalfa export was valued at USD 40 million. The certified seed acre has increased by 2.1% from the previous year showing a healthy growth in the market. Canadian exports market mainly consists of alfalfa, turf grass, timothy seeds.
Market Dynamics
The major drivers for the market are increased consumer preference for organic food and feed products, consumer demand for dairy and animal products, rise in breed cattle demand for feed, growth in population and the shrinkage of land for grazing animals. However, the Canada Seed Act, controlling the seed regulation and high investment for the forage seed production, unpredictability of seed cycle, soil condition, climate change, and the time incentive returns are restraining the market. Although the quality potential of the forage seed is quite high, so is the cost, which creates unwillingness amongst farmers to buy them for feed purpose.
Crop loss due to insect infestation, increased demand for weed free crops, amplified productivity of animal products and mounting demand for biotechnology products are opportunities for the market.
Market Segmentation
By crop type, the market is segmented into legumes, cereals, and grasses. Turf and forage grass consists of a major share in the market followed by legumes seeds. By product type, the market is segmented into stored forage and fresh forage. The stored forage is segmented into silage and hay. Further, the market has been segmented by animal type into cross breed cattle, indigenous cattle and buffalos. The poultry livestock utilizes high-quality forage seeds and covers the major market share, followed by cattle and pork.
Key Industry Players:
The key players in the market are:
The major players have indulged in investment in R&D for innovative products, partnerships and market strategy for pricing of product to sustain in the competitive market.
Key Deliverables in the Study
5th Floor, Rajapushpa Summit
Nanakramguda Rd, Financial District, Gachibowli
Hyderabad, Telangana - 500008
India
+1 617-765-2493
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