Alfalfa Market Share, Size, Analysis, Growth, Trends and Forecasts To 2029

Market Overview:

Global Alfalfa Market Was Estimated At 250.08 Metric Tons In 2021 And Is Projected To Reach 265.33 Metric Tons By 2028, Growing At A CAGR Of 6.1% Over The Analysis Period.

Alfalfa is a tonic plant that contains many proteins, minerals, enzymes, and vitamins. In the pharmaceutical industry, especially in homeopathic pharmacies, the vast majority of the entire plant is needed. Increasing people's awareness about animal nutrition is one of the major factors driving the growth of the market. This is due to the increasing consumer demand for chemical-free meat and dairy products. Product manufacturers use innovative processing and harvesting machinery to produce long fiber hay and improved fiber hay products.

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Key Chapter Will Be Provided In The Report

•Patent Analysis
•Regulatory Framework
•Technology Roadmap
•BCG Matrix
•Heat Map Analysis
•Price Trend Analysis
•Investment Analysis
•Company Profiling and Competitive Positioning
•Industry Value Chain Analysis
•Market Dynamics and Factors
•Porter's Five Forces Analysis
•Pestle Analysis
•SWOT Analysis

Top Key Players Covered In Alfalfa Market

•S&W Seed (US)
•Riverina (Australia)
•Mc Cracken Hay (US)
•Cubeit Hay (US)
•Standlee Hay (US)
•Anderson Hay & Grain (WA)
•Border Valley (India)
•Carli Group (Italy)
•Haykingdom Inc (US)
•Al Dahra ACX Global Inc. (Los Angeles)
•Bailey Farms International (US)
•Green Prairie International Inc- (Canada)
•Hay USA Inc. (US)
•Oxbow Animal Health (US) and other major players.

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Market Dynamics:

Driver:

The growth of dairy animal populations is one of the most important factors accelerating the development of the alfalfa market. Alfalfa is known for being a rich source of protein, high in nutrients and energy to help improve lactation, reproduction, maintenance, and growth in livestock. In the long term, demand for alfalfa from commercial dairy farmers has increased and is expected to increase due to greater investment by dairy companies. In poultry feed, the use of alfalfa has become central, followed in recent years by animal feed due to its importance in terms of crude protein content. Growing dependence on alfalfa for animal feed will grow by leaps and bounds, stimulating the expansion of the alfalfa market during the forecast period.

Opportunities:

Alfalfa hay is a cost-effective and environmentally friendly feed alternative with a long shelf life. It is added to animal feed to improve the quality and quantity of milk produced. Growing awareness among people about animal nutrition is one of the major key factors driving the growth of the market. In addition, the shift in consumer preferences towards premium meat and dairy products is likely to create a lucrative opportunity for market participants.

Segmentation Analysis Of Alfalfa Market

By animal type, the cattle segment is anticipated to dominate the alfalfa market over the analysis period attributed to the large cattle population. The global cattle population is expected to reach one billion head in 2022, up from 996 million in 2021. Beef and veal are among the most popular types of meat consumed worldwide, and are especially popular in the United States. The United States is the world's leading producer of beef and veal.

By Application, dairy cow feed is expected to dominate the alfalfa market in the projected period. The dominance is owing to the high demand for quality feed for cows from different regions. The modern dairy farmers prefer commercial feed and imported hay to raise the cows, as this is highly nutritious and supports the development of animals. Also, the Asia Pacific region being rich in tradition, seek high-quality feed for the cows, which further drives the growth dairy cow feed segment.

By Feed Type, the hay segment is expected to have the highest share of the alfalfa market in the estimated timeframe. Hay is popular among farmers in developing as well as in underdeveloped regions, as it is economically favorable when compared to its counterparts. The most important destinations for alfalfa hays, which have been major export targets for the United States, are China, Japan, and South Korea.

By Feed Type

•Hays
•Bales
•Pellets
•Cubes

By Application

•Dairy Cow Feed
•Cattle and Sheep Feed
•Pig Feed
•Horse Feed
•Poultry Feed

By Animal Type

•Cattle
•Horse

Regional Analysis Of Alfalfa Market

North America is expected to dominate the Alfalfa market over the forecasted timeframe. By far in the United States, the most important feed to dairy cattle is alfalfa. Dairy utilization account for two-thirds of the total usage of alfalfa in the major dairy-producing states such as California, Wisconsin, New York, Idaho, and New Mexico which leads to the rapid growth in this region. Although dairy production is an important market for alfalfa hay, beef producers also use alfalfa as a part of forage needs depending on price and availability.

•North America
o US
o Canada
o Mexico

•Eastern Europe
o Bulgaria
o The Czech Republic
o Hungary
o Poland
o Romania
o Rest of Eastern Europe

•Western Europe
o Germany
o UK
o France
o Netherlands
o Italy
o Russia
o Spain
o Rest of Western Europe

•Asia Pacific
o China
o India
o Japan
o South Korea
o Malaysia
o Thailand
o Vietnam
o The Philippines
o Australia
o New Zealand
o Rest of APAC

•Middle East & Africa
o Turkey
o Bahrain
o Kuwait
o Saudi Arabia
o Qatar
o UAE
o Israel
o South Africa

•South America
o Brazil
o Argentina
o Rest of SA

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Key Industry Development In The Alfalfa Market

On August 27, 2021, Kentucky Equine Research, international equine nutrition, research, and consultation company announced its partnership with Anderson Hay & Grain Co., Inc. naming Anderson as the further Official Research Forage of Kentucky Equine Research. Kentucky Equine Research and Anderson Hay & Grain both possess an established track record of working behind the scenes at international equestrian events.

The report provides insights on the following pointers:

1.Market Penetration: Offers comprehensive information on the market offered by the key players

2.Market Analysis: Provides detailed information on lucrative growing markets and examines market penetration across mature segments.

3.Market Diversification: Details regarding new product launches, untapped geographies, recent developments, and investments are provided.

4.Competitive Landscape: Provides an in-depth analysis of the top companies' market shares, strategies, products, certification, regulatory approvals, patent landscape, and production capabilities.

5.Industry Dynamics and Factors: Offers insightful information about future technologies, R&D initiatives, and game-changing product breakthroughs.

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The report covers exhaustive analysis on:

•The market size and industry growth rate of the global and regional market across various segments

•Based on extensive primary and secondary research this report provides comprehensive and granular data

•Key technological advancements and market trends that shape the market

•Brand dynamics and distribution trends in order to effectively plan strategies in the forecast period 2022-2028

•Key companies operating in this market and their market share

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