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The herbage market has shown robust growth in recent years and is expected to continue its upward trajectory. This blog explores the factors driving this growth, key trends, and future projections.

Current Market Size and Growth

Recent Growth

• Market Size (2023): $8.58 billion
• Projected Market Size (2024): $9.34 billion
• CAGR: 8.9%

The herbage market has experienced significant growth, driven by:

• Historical consumer awareness
• Cultural and dietary shifts
• Medicinal use
• Agricultural practices
• Research and development

Future Projections

• Projected Market Size (2028): $12.7 billion
• CAGR: 8.0%

Future growth is expected due to:

• Regulatory developments
• Growing demand for herbal supplements
• Expanded research and development
• Shifting consumer preferences
• Positive global economic outlook

Read The Full Herbage Market Report Here:
https://www.thebusinessresearchcompany.com/report/herbage-global-market-report

Key Trends in the Herbage Market

Product Innovation

Innovation is crucial for market leaders to maintain their competitive edge. Examples include:

• NURSEED HC: A hydroxycinnamic oligomer developed by Fyteko and Cerience, designed to improve seedling emergence and yield.

Cultural and Culinary Trends

• Increased use of herbage in various culinary applications.
• Adoption of herbage for its health benefits and natural properties.

Environmental Sustainability

• Focus on eco-friendly practices and sustainable farming methods.
• Development of organic and environmentally sustainable herbage products.

Impact of the Dairy Industry

Growing Dairy Industry

• The herbage market is bolstered by the dairy industry, which uses herbage for animal grazing, enhancing milk production.
• Global Milk Production (2021): 928 million metric tons (1.3% increase from 2020)

Key Companies in the Market

• Major Players: Cargill Incorporated, Kreamer Feeds Inc., Scratch and Peck Feeds, Country Heritage Feeds, ForFarmers, Green Mountain Feeds, and others.

Significant Market Movements

Barenbrug UK Acquires Watson Seeds

• Acquisition Date: March 2023
• Purpose: To expand geographical footprint and strengthen presence in the UK, especially in Scotland.
• Company Profile: Watson Seeds specializes in herbage seed production.

Market Segmentation

By Ingredient

• Protein Meals and Cakes
• Cereals and Grains
• Brans
• Additives
• Agro-Industrial By-Products

By Application

• Beef Organic Ruminant
• Dairy Organic Ruminant
• Calves
• Other Applications

By End User

• Feed
• Fodder
• Agro-Based
• Other End Users

Regional Insights

• Largest Region (2023): Asia-Pacific

Conclusion
The herbage market is poised for substantial growth, driven by innovation, cultural shifts, and sustainability. With the dairy industry playing a pivotal role and major companies investing in new technologies and acquisitions, the future looks promising for this burgeoning market. As consumer preferences continue to evolve towards natural and sustainable products, the herbage market is well-positioned to meet these demands and expand further.

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https://www.thebusinessresearchcompany.com/sample_request?id=10475&type=smp

The Herbage Global Market Report 2024  provides an overview of the herbage market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The herbage market forecast analyzes herbage market size, herbage market share, leading competitor and their market positions.

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