As per this study the Global Alfalfa hay Market was valued USD XXX MN (by revenue) in 2019 and is anticipated to reach USD XXX MN by 2026 with a CAGR of X.X%. By volume, the market was estimated XXX KT in 2019 and is expected to reach XXX KT by 2026 with a CAGR of X.X%.
Alfalfa hay is a deep-rooted perennial forage crop which is obtained from the Alfalfa plant and also known as Lucerne and Medicago Sativa. It is cultivated for hay production and grazing for cattle, horses, dairy cows, goats, and sheep. Canada, Spain, the U.S., Italy, and France are some of the major countries for alfalfa hay production. It is an excellent source of good quality protein, fiber, and mineral and is more palatable than grass hays. Alfalfa is commonly used for dairy cows, horses, chickens, beef cattle, sheep, turkeys, and other farm animals.
Increasing demand for dairy and meat products coupled with the changing poultry farm practices is primarily driving the market growth. The rising number of modern cow raised coupled with the growing domestic production of alfalfa hay is further expected to propel the market demand. On the other hand, the high cost of production compared to other forage crops is projected to curb the product demand.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of alfalfa hay.
The broad alfalfa hay market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- Meat/Dairy Animal Feed
- Poultry Feed
- Horse Feed
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for alfalfa hay in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Europe Alfalfa Hay Market By Revenue (USD MN)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the alfalfa hay market includes 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, and others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.