Herbage Global Market Report 2024

The herbage market has grown strongly in recent years. It will grow from $8.58 billion in 2023 to $9.34 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The expansion observed in the historical period can be attributed to factors such as historical consumer awareness, cultural and dietary shifts, the historical medicinal use of herbage, historical agricultural practices, and historical research and development efforts in this field.

The herbage market is expected to see strong growth in the next few years. It will grow to $12.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be attributed to regulatory developments, a growing demand for herbal supplements, expanding research and development activities, shifting consumer preferences, and the global economic outlook. Key trends expected in the forecast period encompass product innovation, cultural shifts and culinary trends influencing herbage consumption, the introduction of innovative product offerings, and a heightened focus on environmental sustainability within the industry.

The anticipated expansion of the dairy industry is expected to drive the growth of the herbage market in the future. The dairy industry encompasses the production and processing of various milk products at dairy plants or farms. Herbage, in this context, is utilized to provide grazing materials for animals, contributing to higher milk production. As reported by the Food and Agriculture Organization, global milk production reached approximately 928 million metric tons in 2021, reflecting a 1.3% increase compared to the previous year. The continuous growth of the dairy industry is a significant factor propelling the herbage industry.

The increasing demand for organic products is poised to contribute to the growth of the herbage market in the foreseeable future. Organic products are produced without the use of synthetic pesticides, herbicides, fertilizers, or genetically modified organisms, often employing environmentally sustainable practices. The herbage market plays a vital role in meeting the surging demand for organic products by supplying a diverse range of naturally cultivated plants and herbs. This supports sustainable and pesticide-free practices, aligning with consumer preferences for organic alternatives. For example, reports from the United States Department of Agriculture (USDA) in May 2023 revealed that the market for organically produced goods exceeded $67 billion, reflecting sustained growth trends over multiple years. This underscores the robust expansion of the sector in 2022, driven by the increasing demand for organic products.

The growth of the herbage market is further expected to be fueled by the rising adoption of vegan diets. A vegan diet involves abstaining from the consumption of animal products and prioritizing plant-based foods for nutritional sustenance. The herbage market contributes to the growing adoption of vegan diets by offering a diverse array of plant-based options. This supports individuals in their choice to avoid animal products, promoting a sustainable and cruelty-free lifestyle. According to reports from Sentient Media in May 2022, the global vegan food market experienced growth, reaching $15.77 billion in 2021 from $14.44 billion in 2020. Plant-based food sales demonstrated a growth rate three times faster than overall food sales in 2021, indicating a significant surge in demand for plant-based products and driving the growth of the herbage market.

Product innovation emerges as a prominent trend gaining traction in the herbage market. Major companies in the herbage market are actively developing innovative products to maintain their competitive positions. An example is the launch of NURSEED HC by Fyteko, a Belgium-based agricultural technology company, and Cerience, a France-based agronomist seed producer, in July 2022. NURSEED HC is a hydroxycinnamic oligomer found in plant cell walls, applied to forage seeds. This innovative seed treatment is designed to assist with the emergence of stressed seedlings and enhance overall yield, reflecting the industry's commitment to continuous innovation.

In March 2023, Barenbrug UK, a grass-seed breeding firm based in the United Kingdom, successfully completed the acquisition of Watson Seeds for an undisclosed sum. This strategic move is intended to expand Barenbrug's existing market presence and strengthen its position across the United Kingdom, with a particular focus on reinforcing its market share in Scotland. Watson Seeds, is a specialist seed company based in Scotland with expertise in herbaceous seed production.

Major companies operating in the herbage market report are Cargill Incorporated, Kreamer Feeds Inc., Scratch and Peck Feeds, Country Heritage Feeds, ForFarmers, Green Mountain Feeds, Feedex Companies, SunOpta, Ranch-Way Feeds, MEGAMIX LLC, Aus Organic Feeds, Purina Animal Nutrition LLC, Koninklijke DSM N.V., Evonik Industries AG, Alltech, Archer Daniels Midland Company, Badische Anilin- und Sodafabrik, Chr. Hansen Holding A/S, Danisco A/S, DuPont de Nemours Inc., Elanco Animal Health Incorporated, Evialis, Kemin Industries Inc., Novozymes A/S, Nutreco N.V., Provimi Holding B.V., Royal DSM N.V., Trouw Nutrition International B.V., Zoetis Inc., Land O'Lakes Inc., Monsanto Company, S&W Seed Company, Syngenta AG, The Mosaic Company, The Scoular Company, Tyson Foods Inc., Wilbur-Ellis Company, Yara International ASA, Zen-Noh Grain Corporation.

Asia-Pacific was the largest region in the herbage market in 2023. The regions covered in the herbage market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the herbage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main components of herbage include protein meals and cakes, cereals and grains, brans, additives, and agro-industrial by-products. Protein meals and cakes are high-protein components derived from herbage and serve as valuable sources of protein. These ingredients find applications in various contexts such as feeding beef organic ruminants, dairy organic ruminants, calves, and others. They are utilized in the production of feed, fodder, agro-based products, and more.

The herbage market research report provides herbage market statistics, including the herbage industry global market size, regional shares, competitors with an herbage market share, detailed herbage market segments, market trends, and opportunities, and any further data you may need to thrive in the herbage industry. This herbage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The herbage consists of sales of ryegrass, white clover, red clover, and a mix of plantain. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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