Global Alfalfa Hay Market Overview
Alfalfa hay is the animal feed used for dairy cattle, beef cattle, horses, sheep, goats, and camels. One of the most critical features of alfalfa is its high nutritional quality as a complete animal feed. Alfalfa contains between 15% to 23% crude protein and is an excellent source of vitamins and minerals. Canada, Spain, the U.S., Italy, and France are major countries for alfalfa hay production. Alfalfa hay is a deep-rooted perennial forage crop obtained from the Alfalfa plant and is also known as Lucerne and Medicago Sativa. Increasing demand for dairy and meat products coupled with the changing poultry farm practices is driving the market growth. The rising number of modern cow raised and the growing domestic production of alfalfa hay are further expected to propel the market demand.
According to Value Market Research, the global alfalfa hay market size was valued at about USD 5.2 billion in 2020 and is estimated to grow at a CAGR of around 5.5 % during the forecast period 2021 to 2027.
Alfalfa is considered one of the highest quality feeds. Most dairy producers would prefer it if they had enough supply readily available at affordable prices. However, the high cost and low awareness are projected to hamper the product demand. Limited production of alfalfa hay and low awareness about alfalfa's benefits over other animal feed among Asian farmers is obstructing the market's healthy growth. Alfalfa stands out as a cost compared to other hay because of the high production cost required to cultivate alfalfa hay. However, it is now profitably grown in many areas. Dairy producers are now successfully growing alfalfa in regions and under management systems once thought impossible.The alfalfa hay market is moderately fragmented. Major players in alfalfa hay market are Alfalfa Monegros SL, Anderson Hay & Grain Inc., Bailey Farms, Border Valley, Coaba, Alfalfa Monegros, Los Venteros, SL Follen Company, Grupo Osés, Al Dahra ACX Global.
In this research report, the alfalfa hay market is segmented by type, application, and region.
Analysis, By Type
Based on type, the global alfalfa hay market is segmented into bales, pellets, and cubes. Bales accounted for the maximum share in the global alfalfa hay market. A bale is more commonly used owing to its availability in many sizes and weights and easy transportability. It is available with many specifications like two-string bales, three-string bales up to six-string bales. The bales are held together with twine, wire, netting, or even plastic wrap. Bales can be transported and stored easier. However, pellets and cubes are challenging to handle and assemble.
Analysis, By Application
Based on application, the global alfalfa hay market is segmented into dairy animal feed, poultry feed, horse feed, and others. The dairy animal feed segment dominated the global alfalfa hay market. Increasing milk demand worldwide, growing demand for lower fiber feed, and greater milk yield drive the growth of dairy animal feed. Alfalfa is an excellent forage for milk-producing animals. Lower feed bills and higher milk production are the primary reasons alfalfa is used for dairy farms. Dairy animals effectively use high protein levels and high-quality fiber in alfalfa to produce milk. An essential quality feature of alfalfa compared to grass is the lower fiber, allowing greater feed intake and greater milk production.
Analysis, By Region
Based on region, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is the leading alfalfa hay market. The region is a major producer and consumer of alfalfa hay. Some of the alfalfa hay-producing states in the United States are California and Minnesota. China, Saudi Arabia, Japan and the United Arab Emirates are the top export destinations to the United States. Europe is another prominent region in the market. Spain is the dominating country with the maximum market share in this region, followed by France and Italy.
Market Segmentation covered in the Report:
By Type
By Application
- Dairy Animal Feed
- Poultry Feed
- Horse Feed
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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