Herbage Market - Forecasts from 2023 to 2028

The global herbage market was valued at US$5.812 billion in 2021 and is expected to grow at a CAGR of 8.27% during the forecast period

Herbages are leafy and succulent stems of herbaceous plants used for several benefits. These are used for grazing, fodder, and herbal medicines, and are cultivated for pastures. The growing demand for herbal medicines and dairy products aids the herbage market growth. Additionally, government investments to increase herbage production along with the people adopting a vegan diet are further expected to boost the herbage market size. 

Numerous Health Benefits of herbage are expected to drive market growth

The health benefits associated with herbage are phenomenal and it is the major driving factor for herbage market growth. For example, sage is a herb used in various cuisines around the world. Sage is full of vitamins, minerals, and antioxidants. Forage legumes such as alfalfa, clover, and vetch are used for animal feed and it is rich in protein and other nutrients. Moreover, it protects ruminants from muscular disorders such as azoturia and laminitis by meeting their daily dietary needs. All these benefits of herbage are expected to propel the herbage market size.

The use of herbage in other applications

Herbage includes a variety of small plants and grass with multiple purposes. Herbage can be served as livestock feed, human dietary needs, pastures, and herbal medicines. Herbal medicines enhance general health and well-being, for instance, thyme-leafed gratiola enhances memory and reduces anxiety, and Coriander is used in indigestion and spasmodic pain. Kalmegh Panchang is used as a cattle feed supplement. Chamomile, marigold, and licorice are the most known herbages that serve as livestock feed to improve the anti-inflammatory capabilities of animals.  Moreover, grasses, the widely known herbage is used to decorate lawns, and different types of grasses are used in the outdoor sports pitch for instance, ryegrass is used in cricket ground. These wider applications of herbage are expected to propel the herbage market growth.                    

Growing Demand for Dairy Products

The demand for dairy products is increasing and consequently driving the demand for herbage used to feed livestock. According to the estimates of the National Dairy Development Board, milk production has increased to 221 million tons in 2022 from 210 million tons in 2021. As the production of dairy products is rising owing to the increased demand, dairy farmers are expected to adopt quality herbage to improve the health of their livestock thereby increasing the production volume. This rising demand along with the increased need for livestock feed is anticipated to boost the herbage market size during the forecast period.

Government Investments and Policies are acting as growth drivers of the market

The governments of various nations are promoting organic farming and the use of natural herbicides to increase the crop yield thereby propelling the herbage market size. The USA National Institute of Food and Agriculture launched the Organic Agriculture Research and Extension Initiative (OARE) and Organic Transition Program (ORG) in 1990 which was reauthorized until 2023 by the recent Farm Bill 2018. According to the Department of Agriculture, India, the cultivated land in organic farming increased from 11.8 lakh hectares of land in 2014 to 29.17 lakh hectares in 2020.  Additionally, the Indian Government launched various organic farming schemes such as Paramparagat Krishi Vikas Yojna which promotes cluster-based organic farming. These initiatives by the majority of the nations coupled with the investments are anticipated to boost the herbage market growth.

Adoption of a Vegetarian Diet

People are transitioning towards the vegetarian diet due to the increased awareness, COVID-19, and rising diseases that restrict non-vegetarian consumption. The vegetarian diet is nutritionally sufficient for all stages of life as per the Academy of Nutrition and Dietetics. Moreover, pet owners are more likely to have a vegetarian diet.  There are numerous health benefits associated with the plant-based diet such as lower environmental impact, and increased physical health. Currently, Asia has the highest vegetarianism prevalence rate of 19% as per the reports of the National Centre for Biotechnology Research. This increasing vegetarianism and adoption of a plant-based diet is expected to propel the global herbage market.

Asia-Pacific is expected to be a significant market

The Asia-Pacific market is expected to contribute a major share of the global herbage market during the forecasted year. The factors attributed to the significant share are the growing demand and production of dairy products in the region and the rising number of people adopting dairy and pure vegetarian diets. Asia has the highest rate of vegetarianism with India contributing maximum. Moreover, the improved standard of living and the government initiatives to support organic farming is further expected to aid the herbage market growth in the region.

Herbage Market Key Players

• Alltech, a US-based company provides natural lawn and garden products, forage inoculants, dairy cattle supplements including others. The Planet of Plenty is the company’s ongoing mission to elevate the agri-food sector, inspire farmers and ranchers, and create new business models.
• For Farmers, an international organization based out of the Netherlands. The company provides innovative feed solutions for conventional livestock. The product offered by the company is compound feed, young animal feed, and specialized feed to moist co-products.
• Associated British Food PLC serves five segments named grocery, sugar, agriculture, ingredients, and retail. Through AB Agri, the company supplies a range of animal feed, supplements, value-added services, and specialist ingredients for farmers.

Key Market Developments

• In November 2021, De Hues entered into a strategic partnership with Masan Group and Market to obtain feed-related businesses and invest in Vietnam’s animal Protein supply chain. This partnership will enhance the animal feed including herbages used to feed animals.

Segmentation:

By Ingredients

• Protein Meals/ Cakes
• Cereals and Grains
• Brans
• Additives
• Others

By Application

• Beef Organic ruminant
• Feeding operations
• Gender
• Dairy Organic ruminant
• Heifers
• Dairy cow
• Calves
• Calf
• Weaners
• Others

By End-Users

• Feed
• Fodder
• Agro-based
• Others

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• United Kingdom
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others