Forage Seeds Market: Industry Expert View on Future Growth and Market Trends
Industrial livestock production has undergone a significant transformation, increasing demand for meat-based products and dairy products. Livestock products account for 16% of energy and 34% of the protein in human diets. Livestock production also accounts for ~19% of the value of food production and 30% of the global value of agriculture. The demand for livestock products is driven by changing lifestyles and food preferences, increasing urbanization, growing income, and the rapidly rising world population. With burgeoning livestock demand, the consumption of protein-rich meat products is surging. According to the Food and Agriculture Organization (FAO), worldwide meat protein consumption is predicted to increase by 14% by 2030. Additionally, world milk production is expected to rise by 1.6% annually between 2020 and 2029 and reach 997 million metric tons in 2029, according to a report by the Organization for Economic Co-operation and Development (OECD) and FAO. Thus, the increasi...