SOUTH AMERICA FORAGE SEED MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 The market for forage seeds in South America is anticipated to grow at a CAGR of 2.36%. In South America, there were 9.02 million ha of forage cropland under cultivation in 2021, up from 7.3 million ha in 2016. Due to an increase in the demand for animal feed, there will be an almost 24% increase between 2016 and 2021.

Due to the growth in production for sale to surrounding nations as a raw material for feed manufacturing, South America held a 9% market share of the worldwide forage seed market in 2021.

Due to the high productivity of corn and the ease with which cattle can digest it, some cattlemen prefer forage crops grown from non-transgenic hybrid seeds. Additionally, corn silage is used in Brazil to produce corn ethanol, making it the hybrid forage crop with the fastest rate of growth.

About 27% of the market value for forage seed is grown in South American nations as forage crops using open-pollinated varieties and hybrid derivative seeds. Native Braccharia species grasses are a major contributor.

Brazil currently holds the top spot in the South American forage seed market as a result of rising demand for beef, an increase in cattle, and governmental initiatives to encourage the growth of forage crops.
USDA predicts a rise in beef production in Brazil between 2020 and 2028 as a result of more cattle becoming available and higher profit margins for slaughterhouses. In Brazil, there were 6.19 million livestock animals in 2020, up 6% from 2019, according to research by the consulting firm DSM. The country's need for meat will rise as a result of the expanding cattle population, and Brazil's feed crop production will also rise.

Major Players: dvanta Seeds - UPL, Bayer AG, DLF, Peman and Royal Barenbrug Group

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