At 6.7% CAGR, the Asia Pacific Forage Seeds Market is Projected to be worth US$ 4,842.06 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific forage seeds market was valued at US$ 2,875.43 million in 2022 and is expected to reach US$ 4,842.06 million by 2030, registering a CAGR of 6.7% from 2022 to 2030. Increasing livestock production and strategic development initiatives are the critical factors attributed to the Asia Pacific forage seeds market expansion.

The forage seeds manufacturers across the region are investing significantly in strategic development initiatives such as product innovation, mergers and acquisitions, and expansion of their businesses to attract many consumers and enhance their market position. To maintain their strategic position in the market, key players are investing significantly in quality enhancement of forage seeds. For instance, DLF Seeds, the worlds leading grass seed breeder, invested US$ 4.6 million in new state-of-the-art mixing and distribution facilities in 2021. The company has invested in transforming its current production facilities of Offshore Patrol Vessels (OPVs) and the hybrid seed of forage and bringing much-needed additional capacity and efficiency to cope with the increasing market demands by consumers and environmental stewardship in the forage seed market. Such strategic development initiatives by key players help to create a strong foothold in the market. Various manufacturers are adopting merger and acquisition strategies and scaling their businesses to satisfy a larger customer base. For instance, in 2020, S&W Seed entered into a definitive agreement to purchase Pasture Genetics Pty Ltd, the third-largest pasture seed firm in Australia. Along with other recent initiatives, the acquisition would broaden and diversify S&Ws product offerings in Australia and position the company as a top provider of elite seed genetics to Australian farmers. Pasture Genetics offers a variety of seed products, including pasture and other grasses, alfalfa, medic, clovers, vetch, and feed cereals. Such development strategies by forage seed manufacturers help them to extend their reach and gain a competitive edge in international markets.

On the contrary, unorganized market in developing countries hurdles the growth of Asia Pacific forage seeds market.

Based on type, the Asia Pacific forage seeds market is categorized into alfalfa, clover, ryegrass, timothy, sorghum, brome, birdsfoot trefoil, cowpea, meadow fescue, and others. The alfalfa segment held 34.5% market share in 2022, amassing US$ 991.48 million. It is projected to garner US$ 1,583.96 million by 2030 to expand at 6.0% CAGR during 2022-2030. The clover segment is further subsegmented into white, red, hybrid, and others. Additionally, the ryegrass segment is categorized into annual ryegrass, perennial ryegrass, Italian ryegrass, and hybrid ryegrass.

Based on category, the Asia Pacific forage seeds market is bifurcated into organic and conventional. The conventional segment held 81.3% share of Asia Pacific forage seeds market in 2022, amassing US$ 2,336.65 million. It is projected to garner US$ 3,904.60 million by 2030 to expand at 6.6% CAGR during 2022-2030.

Based on livestock, the Asia Pacific forage seeds market is categorized into ruminants, poultry, swine, and others. The ruminants segment held 73.9% share of Asia Pacific forage seeds market in 2022, amassing US$ 2,125.51 million. It is projected to garner US$ 3,622.91 million by 2030 to expand at 6.9% CAGR during 2022-2030.

Based on country, the Asia Pacific forage seeds market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that Australia captured 40.6% share of Asia Pacific forage seeds market in 2022. It was assessed at US$ 1,165.99 million in 2022 and is likely to hit US$ 1,880.17 million by 2030, exhibiting a CAGR of 6.2% during 2022-2030.

Key players operating in the Asia Pacific forage seeds market are UPL Ltd, DLF Seeds AS, Corteva Inc, S&W Seed Co, MAS Seeds SA, and Syngenta AG, among others.

- In Oct 2022, KKR joined UPL Ltd. as an investor in Advanta Seeds.

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