Alfalfa, also known as lucerne, is a legume crop that grows in the legume family Fabaceae. It is a major forage crop in many countries, and is used in many applications, including hay and silage. Alfalfa hay contains high amounts of protein, calcium, and vitamins. It is also a great source of energy. Because alfalfa is a legume, its roots work with bacteria in the soil to convert nitrogen in the air into plant protein. These nutrients make alfalfa a superior feed for animals.
Market Dynamics:
The global alfalfa hay market is growing on the account of increasing population and increasing livestock numbers. The increased awareness of the importance of high-quality forage will fuel industry expansion in the coming years. The growing use of alfalfa hay by farmers will also lower transportation costs and environmental risks. As the demand for meat and dairy products continues to rise, the market for alfalfa hay will continue to grow. Growth in the dairy industry is further fueled by a number of factors, including increasing urbanization and population.
However, the market has experience some disruptions in 2020 due to the COVID-19 outbreak, which disrupted the supply chain in the industry. As a result, uncertainty in the industry was felt across various sectors.
Key features of the study:
- This report provides in-depth analysis of the global alfalfa hay market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global alfalfa hay market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Al Dahra ACX Global Inc., Alfalfa Monegros SL, Anderson Hay & Grain Inc., Bailey Farms, Border Valley, Coaba, Cubeit Hay Company, Glenvar Hay, Green Prairie International, Grupo Osés, Gruppo Carli, Hay USA, Haykingdom Inc., Oregon Hay Products, Inc., Los Venteros SC, M&C Hay, Legal Alfalfa Products Ltd., Riverina (Australia) Pty Ltd, SL Follen Company, and Standlee Hay Company
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global alfalfa hay market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global alfalfa hay market
Detailed Segmentation:
- Global Alfalfa Hay Market, By Type
- Global Alfalfa Hay Market, By Application
- Meat/ Dairy animal feed
- Poultry feed
- Horse feed
- Other applications
- Global Alfalfa Hay Market, By Geography
- North America
- Europe
- Asia-pacific
- South America
- Middle east & Africa
- Company Profiles
- Al Dahra ACX Global Inc.
- Alfalfa Monegros SL
- Anderson Hay & Grain Inc.
- Bailey Farms
- Border Valley
- Coaba
- Cubeit Hay Company
- Glenvar Hay
- Green Prairie International
- Grupo Osés
- Gruppo Carli
- Hay USA
- Haykingdom Inc.
- Oregon Hay Products, Inc.
- Los Venteros SC
- M&C Hay
- Legal Alfalfa Products Ltd.
- Riverina (Australia) Pty Ltd
- SL Follen Company
- Standlee Hay Company
