Market Trends of Spain Forage Seed Industry
This section covers the major market trends shaping the Spain Forage Seed Market according to our research experts:
Increasing Demand for Meat and Meat Products
According to the Ministry of Agriculture, Food and Environment volume of beef consumption in the country is declining year after year. The raising concerns among consumers regarding the quality of the meat produced in the country is anticipated to be the reason behind the declining trend on the meat consumption. A rise in per capita income is expected to shift dietary preferences toward protein-rich diets. Increasing life expectancy and limited availability of land and water resources for animal feed production, and increasing use of these resources for food and ethanol production are increasing the demand for forage seed in the Spain meat industry. Furthermore, there has been immense pressure on the livestock sector to meet the increasing demand for high-value animal protein. The demand for alfalfa is increasing significantly and is driven due to changing production practices in the dairy industry. This is essentially due to the increasing number of cows raised by modern dairy farmers who prefer quality feeds. Hence the increasing demand for quality meat and meat products in the country is anticipated to increase the demand for forage seed in the market during the forecast period.
Increased Livestock Population
According to the Food and Agriculture Organization in 2018, the Sheeps and Goats population were higher accounting for 18.6 million heads while cattle and buffaloes accounted for 6.5 million heads. According to research by Greenpeace organization, nearly USD 26.08 billion goes for increasing livestock production in the European Union in 2018. However, a recent study conducted across the region has shown that livestock production has increased above the safe bounds leading to the excess emission of greenhouse gas and affects bio-diversity. Hence, the EU is planning to reduce the free grazing method livestock farms which would slightly impact the European forage seed market in the upcoming years. Environmental regulations surrounding the global compound feed industry, and strict regulations on few feed additives, like antibiotics, are acting as challenges to the compound feed market, thereby affecting the livestock industry. Hence the Increased Livestock population in the country is expected to drive the forage seed market during the forecast period.
