Alfalfa Market Players, Revenue, Statistics, and Business Strategy Until 2030
Alfalfa Market Overview
The
alfalfa market is anticipated to reach USD 42.60 billion by 2030, growing at a
CAGR of 5.20 percent. 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.
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.
Segmental Analysis
By
livestock, the alfalfa market has been segmented into equine, ruminants, deer,
mice, gophers, antelope, and rabbits. By product type, the alfalfa market has
been classified based on the product types such as hay bales, pellets, cubes,
alfalfa meal, seeds, and powder.
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.
The
leading key
alfalfa market players are Bailey Farms (US), GrupoOsés
(Spain), Anderson Hay & Grain Inc. (US), Carli Group (Italy), Alfalfa
Monegros, S.L. (Spain), Border Valley (US), Al Dahra ACX Global, Inc. (US),
Haykingdom Inc. (US), Green Prairie International (Canada), Cubeit Hay Company
(Spain), Hay USA Inc. (US), Standlee Hay Co Ltd. (US), M&C Hay (US), SL
Follen Company (US) and McCracken Hay Company (US).
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
2021 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.
News
Mar 2022 The Manitoba Forage and Grassland
Association (MFGA) is advertising for alfalfa fields this year. As part of its
Green Gold program, the MFGA calls for growers to submit field samples once
more. Leading up to the year's first cut, the hay monitoring program offers
weekly regional data on alfalfa height, feed value, and protein. Green Gold, a
volunteer-run initiative, has been a staple for producers looking for high-quality
hay in their first cuts for decades. When a region's alfalfa reaches a relative
feed value of 170, widely regarded as the best point to cut for dairy-quality
hay, reports accumulate into "hay day." As part of its efforts to
recruit farmers into the program, the MFGA has often stated that Green Gold
participants receive free, precise data on their area rather than drawing from
the more generalized numbers of the region.
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