Market Size of Forage Sorghum Seed Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 7.60 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Forage Sorghum Seed Market Analysis
The forage sorghum seed market is anticipated to register a CAGR of 7.6% during the forecast period (2022-2027).
The pandemic affected all the countries and business sectors with varying degrees of impact. The COVID-19 pandemic disrupted the working of several markets, including the sorghum forage seed market. The pandemic affected the manufacturing process and supply chain networks, thus, resulting in major losses for sorghum forage companies and farmers as well. It has affected the production, certification, distribution, and cost of seeds, which play an important role in the growing stages of the agricultural cycle. Adding to that, the restrictions by governments on movement to protect their people from COVID-19 have caused a major problem for all countries as they are hard hit by the economic downturn.
According to the FAO, sorghum is one of the lesser water-consuming crops, which requires an average of 550 ml of water for its total growing period. This peculiarity will reduce the cost of farming because it reduces the additional cost of investing in artificial water resources. This competitive edge of sorghum over other crops has attracted farmers to grow more sorghum, thereby impacting the long-term increase in demand for the forage sorghum seeds on a global scale. Forage sorghum seed has many exclusive nutritional advantages when fed to cattle, as it is naturally gluten-free. Gluten is a mixture of two proteins, termed prolamin and glutelin, that are present in cereal grains, especially wheat. This is responsible for the elastic texture of dough when churned during digestion making digestion difficult. This nutritional benefit and less water-consuming property will bolster the forage sorghum seed market during the forecast period for the long term.