The usage of Alfalfa hay has become pivotal to not only the poultry feed, but also for the whole livestock feed in recent years, due to it being rich in crude protein content. The unending dependence on Alfalfa hay for animal feed may continue to drive the Alfalfa hay market, globally, during the forecast period.
Alfalfa also called lucerne, is a perennial flowering plant. It is cultivated as an important forage crop in many countries around the globe. It is utilized for grazing, hay, and silage, as well as a green manure and cover crop. The name Alfalfa is used in North America. The name Lucerne is the more commonly used name in the UK, South Africa, Australia, and New Zealand. The plant superficially resembles clover (a cousin in the same family), especially while young, when trifoliate leaves comprising round leaflets predominate. Later in maturity, leaflets are elongated. It has clusters of small purple flowers followed by fruits spiraled in 2 to 3 turns containing 10–20 seeds. Alfalfa is native to warmer temperate. It has been cultivated as livestock fodder since at least the era of the ancient Greece and Romans. Alfalfa sprouts are a common ingredient in dishes made in South Indian Cuisine.
COVID-19 Impact analysis
- The market was negatively impacted during the pandemic.
- Supply of Alfalfa Hay was disrupted due to transportation and import restrictions.
- COVID-19 started from China, majority of the world including the U.S. (who is the largest exporter of Alfalfa Hay) is in trade wars with China and has imposed restrictions on Chinese goods resulting in largest population in the world not getting Alfalfa Hay and other goods from the U.S.
- The income of farmers have been adversely affected due to COVID-19 and the ongoing farmer protests due to which providing their cattle and livestock with premium quality has become a struggle.
Top Impacting Factors
- Alfalfa Hay is an ecologically friendly food item and full of nutrients for animals. Health benefits to animals are a major factor for Alfalfa’s demand.
- Not many substitutes available.
- Increasing number of animals owned for cultivation and production.
- Ease of purchase through online distribution channels.
- Convenient for storage.
- Not much expensive.
- Can also be used for composting.
- Alfalfa has prolonged life.
- Consuming Alfalfa Hay can be toxic, especially if consumed in excess.
- Trade Wars of the U.S. and China has adversely affected this industry significantly.
Due to Earth’s growing population, the need for another nutritive and ecologically friendly food source for not only humans but also for the poultry, livestock and cattle is increasing at a rampant pace. Alfalfa Hay has rich sources of nutrients that are necessary for the animals to keep their bodies functioning and working.
Anderson Hay & Grain Inc. has entered into a joint venture with Agitha Group, the UAE animal feed market leader. The venture is formed with the objective to serve the consumers better in the UAE and GCC. The products will be imported from Anderson premium forage products and distributed to UAE & GCC under the brand name Agrivita Marabe.
Livestock is a major factor responsible for the growth of the Alfalfa hay market. The annual growth of meat production and milk production in the developing countries is projected to be 2.4% and 2.5%, respectively, till the forecasting period. This is expected to increase the share of the developing countries in the world meat production to 66%, which will be 247.0 million metric tons, and in milk production to 55.0%, which will be 484.0 million metric tons. Furthermore, the demand for high-value animal protein is surplus in contrast to its supply by the livestock sector. The demand for Alfalfa hay is increasing significantly in China and is driven by changing production practices in the Chinese dairy industry although the supply has been curbed due to the trade war complications with the U.S. To get rid of this hindrance, the Chinese government is focusing on boosting the domestic production of Alfalfa hay, in order to cater to its high demand. The dairy sector is essentially boosting the demand for Alfalfa hay in China. Cattle keeping by the farmers has also increased, increasing number of cows and buffaloes raised by modern dairy farmers who prefer utilizing imported hay and commercial feeds.
The global Alfalfa hay market is projected to rise with a CAGR of more than 7% during the forecast period.
Key Benefits of the Report:
- This study presents the analytical depiction of the alfalfa hay industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the alfalfa hay market share.
- The current market is quantitatively analyzed to highlight the alfalfa hay market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed alfalfa hay market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Report:
- Who are the leading market players active in the alfalfa hay market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
- What is “Alfalfa Hay “Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "Alfalfa Hay" Market?
Alfalfa Hay Market Report Highlights
Key Market Players
Agitha Group, Bailey Farms, Border Valley, Alfalfa Monegros SL, Al Dahra ACX global Inc., Anderson Hay & Grain Inc.