According to IMARC Group latest report titled “Alfalfa Hay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on alfalfa hay market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global alfalfa hay market reached a volume of 244.15 Million Metric Tons in 2021. Looking forward, IMARC Group expects the market to reach 339.37 Million Metric Tons by 2027, exhibiting at a CAGR of 5.4% during 2022-2027.
Alfalfa hay refers to animal fodder obtained from the alfalfa plant. It is widely used to feed livestock as it is rich in protein, energy, minerals, vitamins, calcium and fiber. It has a higher nutrient content than grass hay and is widely available in the form of pellets, cubes and bales. Nowadays, alfalfa hay also finds applications in manufacturing animal nutritional supplements to promote proper growth and boost the immune system.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global alfalfa hay market is primarily driven by the growing consciousness regarding animal nutrition, and the escalating demand for high-quality dairy and meat products. Additionally, the increasing inclination toward commercial feed and hay produced using non-genetically modified organisms (non-GMO) crops has catalyzed the market growth. Furthermore, several leading players are offering long-fiber hay products with improved fiber content, which has augmented the product demand. Other factors, including the rising demand for high-value animal protein and ongoing research and development (R&D) activities in the animal husbandry field, are also anticipated to propel the market growth.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Al Dahra ACX Inc.
- Alfalfa Monegros
- Anderson Hay & Grain Co Inc.
- Bailey Farms International
- Green Prairie International Inc.
- Hay USA Inc.
- Oxbow Animal Health
- Riverina (Mitsubishi Corporation)
- Sacate Pellet Mills Inc.
- SL Follen Company
- Standlee Premium Products LLC
- Zille S.A
Alfalfa Hay Market Segmentation:
Our report has categorized the market based on region, type, application and end use industry.
Breakup by Type:
Breakup by Application:
- Daily Animal Feed
- Poultry Feed
- Horse Feed
Breakup by End User:
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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