The global alflafa hay market size was US$ 77.71 million in 2022. The global market is forecast to generate revenue of US$ 133.53 million by 2031, growing at a compound annual growth rate (CAGR) of 6.2% during the forecast period from 2023 to 2031.
Lucerne, often known as alfalfa, is a perennial flowering plant. It is grown as a significant forage crop in numerous nations globally. It is used as a cover crop, green manure, hay, and silage crop in addition to grazing. In South Africa, Australia, New Zealand, the UK, and South Africa, the name Lucerne is more frequently used. The plant is young, and trifoliate leaves with round leaflets are the majority. In addition, the plant superficially resembles clover, a cousin in the same family. The leaflets lengthen as they mature.
Market Driving Factors
The market is expected to experience significant expansion owing to the rising demand for high-quality hay among livestock and the cattle herd. Due to the value of its crude protein level, alfalfa hay is now essential for animal feed. Animals' growth and development are accelerated by alfalfa hay, which also increases milk output. As a result, the market may continue to be driven by the need for alfalfa hay for animal feed during the forecast period.
The market will continue to rise in the upcoming years due to increasing investments in the creation of large-scale dairy operations and a growing emphasis on more advanced technical developments. For instance, new alfalfa-based feed pellets were made available in September 2022 by Andy by Anderson Hay & Heinold Feeds, especially for young house rabbits. These feed pellets will include forage, vitamins, and minerals, among other natural elements.
However, the availability and cost of alfalfa hay and the high cost associated with the transportation of products are major factors impeding demand and market growth. Droughts, floods, and other weather-related events that can reduce yields are just a few examples of weather conditions that have a significant impact on alfalfa hay production.
Market Segmentation Analysis
By Type Analysis
In 2022, the pellets segment generated maximum market share and is predicted to keep that position for the duration of the forecasted period. Compared to conventional baled hay, the sector market's rise may be largely attributable to how much easier it is to store, transport, and feed. This makes it more practical for both farmers and customers.
Additionally, the appeal of the food as a great source of protein, fiber, and other healthy elements is fueling market expansion. The sector market is being driven by the fact that pellets are also simpler for animals to digest than conventional hay, which results in better feed efficiency and, ultimately, better weight gain and milk output.
By Application Analysis
In 2022, the daily animal feel segment dominated the global and is forecast to remain dominant during the forecast period. This is due to the several health benefits for livestock, such as improved digestion, increased milk production in dairy cows, and improved weight gain in beef cattle, making alfalfa hay an alluring choice for livestock owners looking to improve the health and productivity of their animals.
Geographical Overview
In 2022, North America accounted for the highest revenue share and is likely to witness expansion at the highest CAGR during the forecast period. The production of alfalfa hay is increasing, and consumers are embracing the product more widely than ever before, notably in the United States. This can also be considerably expedited by the rising technological advancements made by key market participants in the area.
Texas, Kansas, California, and Missouri are a few of the states in the US that produce alfalfa hay as of 2021. The majority of the nation's alfalfa hay is produced in these states. The major export destinations to the United States are Saudi Arabia, the United Arab Emirates, China, Japan, Korea, Taiwan, and Saudi Arabia. The main destination for American alfalfa hay exports is anticipated to be China.
In addition to the production, domestic dairy consumption has been rising over the years due to increasing non-fluid dairy sales. United States Department of Agriculture (USDA) data shows that American dairy consumption is continuing its growth trajectory. Since 1975, per capita consumption has grown by 22%. Further, dairy is likely to continue to grow as a category in the future, with a greater focus on producing sustainable food production.
List of Prominent Players
Segmentation Outline
The global alfalfa hay market segmentation focuses on Type, Application, and Region.
By Type
By Application
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL ALFALFA HAY MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: ALFALFA HAY MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL ALFALFA HAY MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL ALFALFA HAY MARKET, BY TYPE
5.1 OVERVIEW
5.2 BALES
5.3 PELLETS
5.4 CUBES
6 GLOBAL ALFALFA HAY MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 DAILY ANIMAL FEED
6.3 POULTRY FEED
6.4 HORSE FEED
6.5 OTHERS
7 GLOBAL ALFALFA HAY MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL ALFALFA HAY MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 AL DAHRA ACX GLOBAL INC.
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 ALFALFA MONEGROS SL
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 ANDERSON HAY & GRAIN INC.
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 BAILEY FARMS
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 BORDER VALLEY
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 COABA
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 CUBEIT HAY COMPANY
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 GLENVAR HAY
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 GREEN PRAIRIE INTERNATIONAL
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 GRUPO OSÉS
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.11 GRUPPO CARLI
9.11.1 OVERVIEW
9.11.2 FINANCIAL PERFORMANCE
9.11.3 PRODUCT OUTLOOK
9.11.4 KEY DEVELOPMENTS
9.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.12 HAY USA
9.12.1 OVERVIEW
9.12.2 FINANCIAL PERFORMANCE
9.12.3 PRODUCT OUTLOOK
9.12.4 KEY DEVELOPMENTS
9.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.13 HAYKINGDOM INC.
9.13.1 OVERVIEW
9.13.2 FINANCIAL PERFORMANCE
9.13.3 PRODUCT OUTLOOK
9.13.4 KEY DEVELOPMENTS
9.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.14 KNIGHT AG SOURCING
9.14.1 OVERVIEW
9.14.2 FINANCIAL PERFORMANCE
9.14.3 PRODUCT OUTLOOK
9.14.4 KEY DEVELOPMENTS
9.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.15 LOS VENTEROS SC
9.15.1 OVERVIEW
9.15.2 FINANCIAL PERFORMANCE
9.15.3 PRODUCT OUTLOOK
9.15.4 KEY DEVELOPMENTS
9.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.16 M&C HAY
9.16.1 OVERVIEW
9.16.2 FINANCIAL PERFORMANCE
9.16.3 PRODUCT OUTLOOK
9.16.4 KEY DEVELOPMENTS
9.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.17 MCCRACKEN HAY COMPANY
9.17.1 OVERVIEW
9.17.2 FINANCIAL PERFORMANCE
9.17.3 PRODUCT OUTLOOK
9.17.4 KEY DEVELOPMENTS
9.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.18 RIVERINA (AUSTRALIA) PTY LTD
9.18.1 OVERVIEW
9.18.2 FINANCIAL PERFORMANCE
9.18.3 PRODUCT OUTLOOK
9.18.4 KEY DEVELOPMENTS
9.18.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.19 SL FOLLEN COMPANY
9.19.1 OVERVIEW
9.19.2 FINANCIAL PERFORMANCE
9.19.3 PRODUCT OUTLOOK
9.19.4 KEY DEVELOPMENTS
9.19.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.20 STANDLEE HAY COMPANY
9.20.1 OVERVIEW
9.20.2 FINANCIAL PERFORMANCE
9.20.3 PRODUCT OUTLOOK
9.20.4 KEY DEVELOPMENTS
9.20.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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