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 report. 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 is a food source obtained from the lucerne or alfalfa plant. It is mainly used in the feed for cattle, ruminants, poultry, and horses and is available in the form of pellets, bales, and cubes. Alfalfa hay is a rich source of protein, energy, fiber, calcium, vitamins, minerals, etc., and is produced by harvesting the crop and sun-drying it in strips. Compared to the traditionally used grass hay, it has an enhanced nutrient content and is more palatable. As a result, alfalfa hay finds widespread applications in the manufacturing of nutritional supplements to promote growth and improve the immune system in animals, cattle, and livestock.
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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 escalating consciousness towards animal nutrition among individuals is primarily driving the alfalfa hay market. Besides this, the elevating product utilization in cattle feed to enhance the quality and quantity of milk produced, on account of its cost-effectiveness and environment-friendliness, is further augmenting the market growth. Apart from this, increasing demand for alfalfa hay manufactured with non-genetically modified organism (non-GMO) crops is also catalyzing the global market. Moreover, the shifting consumer inclination towards premium-quality and chemical-free meat and dairy products with improved fiber content is acting as another significant growth-inducing factor. Furthermore, the rising number of research and development (R&D) activities in the field of animal husbandry and the expanding agriculture sector are expected to bolster the alfalfa hay market in the coming years.
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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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