Wilmington, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Pasture Seeds Market by Species (Legumes, Grasses), by Type (Clover, Brachiaria, Alfalfa, Panicum, Mombaca Grass, Andropogon, Coastcross, Bermuda Grass, Clover, Brome Grass, Fescue, Rhodes Grass, Rye Grass, Sorghum, Soybean, Timothy Grass, Orchardgrass, Turnips, Millet, Chicory, Oat Grass, Wheat Grass, Birdsfoot Trefoil, Others (Dandelion, Kale Seeds, Sunflower, Buffel Grass, Bahia Grass, Canary Grass, and Others)) and by Animal Type (Pork, Horse, Cow, Goat, Sheep, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global pasture seeds industry generated $13.4 billion in 2022 and is anticipated to generate $25.9 billion by 2032, witnessing a CAGR of 7.1% from 2023 to 2032.
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The demand for pasture seeds is being stimulated by sustainable agriculture practices. The adoption of sustainable agricultural practices, such as crop rotation, diversification, cover crops, and precision farming, is motivated by the need to achieve both environmental sustainability and global food security. Pastures are usually grown throughout the summer season, as opposed to meadows which are ungrazed, or used for grazing, only after they have been mown to produce forage for animal feed.
Prime Determinants of Growth:
The global pasture seeds market is experiencing growth due to several factors, including sustainable agricultural Practices, fostering the pasture seeds market growth, the adoption of advanced breeding technologies to develop improved pasture seed varieties, and the growth of the livestock sector. However, the market expansion of pasture seeds has been hampered by the acceptance of genetically modified (GM) crops. While GM crops have the potential to increase production, quality, and shelf life, public opinion, governmental interference, and persistent deception efforts all have an impact on how well-accepted they are in different places. In addition, the market for pasture seeds has a sizable opportunity due to a rise in animal nutrition awareness. Customers look for premium meat and animal-based food products as they become more aware of the value of animal nutrition and health.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $13.4 Billion |
| Market Size in 2032 | $25.9 Billion |
| CAGR | 7.1% |
| No. of Pages in Report | 250 |
| Segments covered | Animal Type, Species, Type, and Region |
| Drivers |
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| Opportunities |
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| Restraints |
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The sheep segment to maintain its leadership status throughout the forecast period-
Based on animal type, the sheep segment held the highest market share in 2022, accounting for more than one-third of the global pasture seeds market revenue and is estimated to maintain its leadership status throughout the forecast period. Sheep dominate the pasture seeds market due to their widespread grazing habits, promoting seed dispersal and soil aeration, aiding in natural seed propagation and regeneration. However, the horse segment would showcase the highest CAGR of 10.4% from 2023 to 2032. The horse segment leads pasture seed market growth due to increased equestrian activities, rising demand for high-nutrition forage, and the need for sustainable equine grazing solutions.
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The grasses segment to maintain its lead position throughout the forecast period-
Based on species, the grasses segment held the highest market share in 2022, accounting for more than three-fourths of the global pasture seeds market revenue, and is estimated to maintain its lead position throughout the forecast period. Grass species dominate the pasture seeds market due to their adaptability, resilience, and nutritional value, making them essential for livestock forage and sustainable agricultural practices. Furthermore, the legumes segment would display the highest CAGR of 8.3% from 2023 to 2032. The legumes segment leads the pasture seeds market due to increased demand for sustainable livestock feed, enhanced soil health, and rising awareness of their nitrogen-fixing benefits.
The Fescue segment to rule the roost by 2032-
Based on type, the fescue segment held the highest market share in 2022, contributing to nearly one-fifth of the global pasture seeds market revenue, and is projected to rule the roost by 2032. Fescue seed's resilience, adaptability, and low maintenance requirements make it a preferred choice, ensuring lush, sustainable pastures for livestock, driving its dominance in the market. However, the Andropogon segment would portray the highest CAGR of 9.4% from 2023 to 2032. The Andropogon segment leads pasture seed market due to rapid germination, high forage yield, and resilience, meeting livestock needs efficiently.
North America to maintain its dominance by 2032-
Based on region, the North America held the highest market share in 2022, contributing to more than one-third of the global pasture seeds market revenue, and is projected to maintain its dominance by 2032. North America dominates the pasture seeds market due to its vast agricultural industry, favorable climate, advanced research, and high demand for livestock production, ensuring a strong market presence. On the other hand, the Asia-Pacific region is projected to manifest the highest CAGR of 9.2% from 2023 to 2032. The Asia-Pacific region leads the pasture seeds market due to rising demand for livestock farming, expanding agriculture, and increasing adoption of high-yield forage varieties.
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Leading Market Players:
- Royal Barenbrug Group
- Hancock Seed And Company
- DLF Seeds A/S
- Ragt Sa
- Openfolde Limited
- Brett-young Seeds Limited
- Deutsche Saatveredelung Ag
- Fosters Seed and Feed Ltd.
- GROWMARK, INC.
- Corteva, Inc.
The report provides a detailed analysis of these key players in the global pasture seeds market. These players have adopted different strategies such as new product launches, business expansion, partnerships, mergers, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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