The alfalfa hay bales market is expected to expand with the equestrian sector. Alfalfa hay bales have more energy, protein, and calcium than other hay bales. With its high mineral and protein requirements, alfalfa's nutritional profile makes feed appropriate for lactating mares and juvenile and growing horses. The worldwide Alfalfa Market Size is registered to achieve USD 42.60 Billion by the end of the year 2030. For instance, the global market is registered to generate the market value at a CAGR of 5.20% between the forecast years 2022-2030.
Furthermore, due to the simple wider availability of alfalfa products in various locations, global market participants can generate considerable alfalfa market share in the coming years.
The vital players in the alfalfa market are Al Dahra ACX Global, Inc. (US), GrupoOsés (Spain), Anderson Hay & Grain Inc. (US), Alfalfa Monegros, S.L. (Spain), Border Valley (US), Bailey Farms (US), Green Prairie International (Canada), Cubeit Hay Company (Spain), Hay USA Inc. (US), Carli Group (Italy), Standlee Hay Co Ltd. (US), M&C Hay (US), Haykingdom Inc. (US), SL Follen Company (US), McCracken Hay Company (US).
Segmental Table
By Product Type
- pellets,
- cubes,
- hay bales,
- others (Alfalfa meal, seeds, and powder)
By Livestock
- equine,
- ruminants,
- others(deer, mice, antelope, gophers, and rabbits)
Detailed Regional Analysis
The alfalfa market size is fueled by contributions from various areas such as North America, Asia Pacific, Europe, and the rest of the world. Because of the growing cattle population in the region, the North American market dominated in 2018 and was predicted to maintain its position as the leading revenue-generating regional market in the research period. Because of the expanding cow population, limited grazing pastures, and demand for dairy meat and poultry products, the Asia Pacific region is predicted to be the quickest regional alfalfa market during the analysis period. Furthermore, because of the increased bovine population given the growth of the European dairy industry, alfalfa demand is growing in the European region.
Competitive Analysis
The global market's reaction to increased efficiency levels is projected to unleash fresh and dramatic transformations in the approaching future. In the next year, the increase in business interests is expected to put market competitors in a better position during the forecast period. The market's players are anticipated to seek supply chain revisions to encourage the market's expansion into new sectors and demographics. During the projection timeframe, the market is expected to gain a lot from market signals while also examining its customer base to suit their wants better. Because of the government's involvement in re-energizing the international market, the different regional markets will continue to grow steadily. The new growth endeavors are expected to boost the company's future goal attainment trend and are thus regarded as critical to its expansion. Businesses in the market are expected to incorporate social impact aims shortly, ushering in a new planning phase in the industry. In the coming years, digital aspects of business operations are expected to become more prominent.
Key questions answered in the report:
Which are the five top players of the Alfalfa market?
How will the Alfalfa market change in the next five years?
Which product and application will take a lion’s share of the Alfalfa market?
What are the drivers and restraints of the Alfalfa market?
Which regional market will show the highest growth?
What will be the CAGR and size of the Alfalfa market throughout the forecast period?
Top of Form
Recent Developments
In January 2022, the prominent market player Green Praireconducted a new product launch named green curd. This new product is an air-dried hay product, which is expected to grow its business in coming years.
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