At 6.2% CAGR, the South & Central America Forage Seeds Market is Projected to be worth US$ 918.63 million by 2030, says Business Market Insights

According to Business Market Insights research, the South & Central America forage seeds market was valued at US$ 567.69 million in 2022 and is expected to reach US$ 918.63 million by 2030, registering a CAGR of 6.2% from 2022 to 2030. Increasing livestock production and strategic development initiatives are the critical factors attributed to the South & Central America forage seeds market expansion.

People are becoming more conscious about their health; thus, they prefer consuming organic food as it does not contain pesticides. Organic milk and meat are richer in nutrients such as enzymes, bioflavonoids, and antioxidants. Hence, people prefer organic food and organic meat over inorganic. This has led to the demand for organic feed to supply organic meat to consumers. Dairy farms, the poultry sector, and animal husbandry have focused on purchasing high-quality organic forage feed due to the growing demand for organic meat and dairy products. Conventional feed often contains high amounts of chemicals that hamper meat quality when consumed by animals. Long-term consumption of such meat results in various health disorders. To overcome this issue, manufacturers are developing organic feed that contains no chemical additives. Animals feeding on such feed offer meat that has high nutritional value. Thus, consumers often find organic and natural products as healthier alternatives to conventional products. Consumers are mainly inclined toward organic products, which has encouraged manufacturers to invest heavily in products produced with organic constituents. Furthermore, the more accessible access to infinite information with the help of the internet has made consumers increasingly aware of their health needs, leading to the increasing demand for organic feed. Thus, a rising preference for organic feed is expected to become a significant trend in the South & Central America forage seeds market during the forecast period.

On the contrary, unorganized market in developing countries hurdles the growth of South & Central America forage seeds market.

Based on type, the South & Central America forage seeds market is categorized into alfalfa, clover, ryegrass, timothy, sorghum, brome, birdsfoot trefoil, cowpea, meadow fescue, and others. The alfalfa segment held 27.0% market share in 2022, amassing US$ 153.13 million. It is projected to garner US$ 242.26 million by 2030 to expand at 5.9% 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 South & Central America forage seeds market is bifurcated into organic and conventional. The conventional segment held 85.6% share of South & Central America forage seeds market in 2022, amassing US$ 486.22 million. It is projected to garner US$ 782.47 million by 2030 to expand at 6.1% CAGR during 2022-2030.

Based on livestock, the South & Central America forage seeds market is categorized into ruminants, poultry, swine, and others. The ruminants segment held 83.2% share of South & Central America forage seeds market in 2022, amassing US$ 472.03 million. It is projected to garner US$ 771.15 million by 2030 to expand at 6.3% CAGR during 2022-2030.

Based on country, the South & Central America forage seeds market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 41.9% share of South & Central America forage seeds market in 2022. It was assessed at US$ 237.76 million in 2022 and is likely to hit US$ 374.16 million by 2030, exhibiting a CAGR of 5.8% during 2022-2030. 

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

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