Market Overview:
The global alfalfa market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for meat and dairy products, rising awareness about animal feed, and growing demand for horse feed. North America is expected to dominate the global alfalfa market during the forecast period owing to the presence of key players in this region and rising demand for animal feed. Asia Pacific is projected to be the fastest-growing region during the forecast period owing to rapid industrialization and urbanization in countries such as China and India.
Product Definition:
Alfalfa is a plant that is used to make hay. It is an important source of food for livestock.
Hay:
The growth of the global hay market is directly related to that of alfalfa. Hay is cut and carried to feedlots for feeding steers and heifers in the beef industry. Alfalfa, on the other hand, is used as a source of protein by itself or mixed with other cereals for direct consumption by humans or indirectly through various animal feeds. The demand-supply scenario plays an important role in setting prices for both products across regions.
Pellet:
Pellet is dried fruit of plantago ovata. It is also known as dry seed or alfalfa seeds. Alfalfa market demand has been on a rise owing to its health benefits such as high protein content, low fat level and rich in vitamins and minerals like calcium, iron, magnesium & zinc among others.
Application Insights:
The major applications of alfalfa include meat/dairy animal feed, horse feed and poultry. The meat/dairy animal feed segment accounted for the largest share in 2015 and is expected to witness a high growth rate over the forecast period. This can be attributed to growing demand for dairy products from expanding economies such as India, China, Brazil etc. Growing demand for milk & milk products in North America along with Europe is anticipated to fuel market growth over the forecast period.
Pellet form of alfalfa is widely used as an energy source by horses during endurance racing events owing to its high protein content which helps maintain muscle mass during fasting periods among other benefits offered by it including improving joint health and coat quality among others ¢â‚¬â€œ all these factors are likely to propel its consumption in equine nutrition programs thereby driving market growth over the projected period.
Regional Analysis:
North America dominated the global alfalfa market in 2017. The region is expected to witness a growth rate of 5.8% over the forecast period, owing to high product demand from dairy and meat animal feed industries. In North America, U.S., Canada and Mexico are major consumers of alfalfa hay with consumption levels ranging from 80-100 kg per person annually in U.S., to 150-200 kg per person annually in Canada, according to data published by the Global Alfalfa Initiative (GAI).
The Asia Pacific accounted for a significant share of global revenue in 2017 due to rapid urbanization.
Growth Factors:
- Increasing demand for organic food products is expected to drive the growth of the global Alfalfa market over the forecast period.
- Rising awareness about the health benefits of consuming Alfalfa is another key factor that is anticipated to fuel market growth in the near future.
- Growing demand for livestock feed due to increasing population and rising meat consumption are some other factors that are likely to boost market growth in coming years.
- Rapid urbanization and growing disposable income levels of consumers in emerging economies are also projected to create lucrative opportunities for players operating in this market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Alfalfa Market Research Report
By Type
Hay, Pellet
By Application
Meat/dairy animal feed, Horse feed, Poultry
By Companies
Alfalfa Monegros, S&W Seed, Riverina, Mc Cracken Hay, Cubeit Hay, M&C Hay, Standlee Hay, Anderson Hay & Grain, Border Valley, Carli Group, Alfalfa Monegros, Oregon Hay Products
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
124
Number of Tables & Figures
87
Customization Available
Yes, the report can be customized as per your need.
Global Alfalfa Market Report Segments:
The global Alfalfa market is segmented on the basis of:
Types
Hay, Pellet
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Meat/dairy animal feed, Horse feed, Poultry
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Alfalfa Monegros
- S&W Seed
- Riverina
- Mc Cracken Hay
- Cubeit Hay
- M&C Hay
- Standlee Hay
- Anderson Hay & Grain
- Border Valley
- Carli Group
- Alfalfa Monegros
- Oregon Hay Products
Highlights of The Alfalfa Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hay
- Pellet
- By Application:
- Meat/dairy animal feed
- Horse feed
- Poultry
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Alfalfa Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Alfalfa is a type of grass. It is used as feed for livestock and as a source of hay.
Some of the key players operating in the alfalfa market are Alfalfa Monegros, S&W Seed, Riverina, Mc Cracken Hay, Cubeit Hay, M&C Hay, Standlee Hay, Anderson Hay & Grain, Border Valley, Carli Group, Alfalfa Monegros, Oregon Hay Products.
The alfalfa market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Alfalfa Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Alfalfa Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Alfalfa Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Alfalfa Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Alfalfa Market Size & Forecast, 2020-2028
4.5.1 Alfalfa Market Size and Y-o-Y Growth
4.5.2 Alfalfa Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Hay
5.2.2 Pellet
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Meat/dairy animal feed
6.2.2 Horse feed
6.2.3 Poultry
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Alfalfa Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Alfalfa Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Hay
9.6.2 Pellet
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Meat/dairy animal feed
9.10.2 Horse feed
9.10.3 Poultry
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Hay
10.6.2 Pellet
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Meat/dairy animal feed
10.10.2 Horse feed
10.10.3 Poultry
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Hay
11.6.2 Pellet
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Meat/dairy animal feed
11.10.2 Horse feed
11.10.3 Poultry
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Hay
12.6.2 Pellet
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Meat/dairy animal feed
12.10.2 Horse feed
12.10.3 Poultry
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Hay
13.6.2 Pellet
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Meat/dairy animal feed
13.10.2 Horse feed
13.10.3 Poultry
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Alfalfa Market: Competitive Dashboard
14.2 Global Alfalfa Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Alfalfa Monegros
14.3.2 S&W Seed
14.3.3 Riverina
14.3.4 Mc Cracken Hay
14.3.5 Cubeit Hay
14.3.6 M&C Hay
14.3.7 Standlee Hay
14.3.8 Anderson Hay & Grain
14.3.9 Border Valley
14.3.10 Carli Group
14.3.11 Alfalfa Monegros
14.3.12 Oregon Hay Products
