Brazil Forage Seed Market - Growth, Trends, Covid-19 Impact, And Forecasts (2023 - 2028)
Brazil Forage Seed Market is projected to register a CAGR of 8.6% during the forecast period (2020-2025).
Key HighlightsThe country is growing its demand for meat consumption owing to the growing population in Brazil. According to FAO, Brazil increased its production of meat from 9,284,000 tons in 2016 to 9,900,000 tons in 2018 owing to the growing need for animal protein in the country. Increasing life expectancy, limited availability of land and water resources for animal feed production, and increasing use of these resources for food and ethanol production are increasing the demand for animal feed like forages in Brazil. Countries, like Brazil, are among the world’s fastest-growing economies and a rise in per capita income is expected to shift dietary preferences toward protein-rich diets. Also, the country's consumption of milk was about 34,112,475 tons in 2018 which indicates a growing demand for forage which in turn increases the demand for forage seeds. Thus, the market is expected to grow in the coming years.
Cereals Dominate the MarketCereal crops are generally used as a forage crop for feeding animals in the country owing to the maintenance of animal nutrition. This has led to a great demand for cereal seeds in the country. According to the FAO, cereal production increased from 84.2 million tons in 2016 to 103,1 million tons in 2018 owing to the demand across both the human population and animals. Thus, some of the production of cereals is processed as a forage crop to feed animals in Brazil. Moreover, southern Brazil has an intensive livestock system due to the high production potential and the excellent growing conditions for several forage species throughout the year. The state of Guarapuava and the State of Paraná has ideal climatic conditions for the cultivation of several winter cereals, each with different nutritional characteristics for feeding animals. However, in Brazil, the use of pre-dried silage of temperate forages is still considered as an alternative to providing quality cereal forage in periods of pasture shortage. Thus, the market for forage seeds is anticipated to grow moderately over the forecast period.
Brazil Forage Seed Market Competitor AnalysisIn the forage seed market, companies are not only competing based on product quality and promotion but are also focusing on strategic moves to hold larger market shares. Major acquisitions and mergers are taking place between companies to expand their forage seed business in the country with new varieties. One such merger has been between Royal Barenbrug Group and Dow AgroSciences which has led to the official opening of Barenbrug do Brasil. Some of the major players in the market are, Agria Corporation, Advanta Seeds (UPL), Wolf Sementes, Germisul Seeds Ltd, MN Agro Consulting In Seeds & Agribusiness, etc.
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