Alfalfa Market Report 2024 (Global Edition)

Global Alfalfa Market Report 2024 Market Size Split by Type (Hay, Pellets, Cubes), by Application (Meat/Dairy Animal Feed, Horse Feed, Poultry, Swine, Aquaculture), by Sales Channel (Direct Sales, E-c...

Alfalfa Market Report Description

We have various report editions of Alfalfa Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Alfalfa Market

Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their Worldwide footprint, with significant market developments including new Material portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. Because of automation and technological advancement, businesses compete fiercely to deliver innovative products.

Alfalfa Industry News

• January 2023: After a ten-year wait, China's agricultural ministry announced that the nation had approved importing 8 G.M. crops and exporting G.M. lucerne.

(Source: www.isaaa.org/kc/cropbiotechupdate/article/default.asp?ID=19978#:~:text=China%20Approves%208%20New%20GM%20Crops%3B%20Renews%20Approvals%20for%202%20More,-January%2018%2C%202023&text=China's%20Ministry%20of%20Agriculture%20and,NBC)%20meeting%20in%20December%202022.)

• March 2023: During Tulare's 2023 International Ag Expo, the HAYTECH distant hay tracking system was recognized as a Top-10 innovative product award.

(Source: www.worldagexpo.com/2023-world-ag-expo-top-10-new-product-winners-announced/)

• October 2021: A native DNA sequence for lucerne resistance to anthracnose race five was approved for patent by Forage Genetics International. Farmers could profit from the prevention of defoliation, which can save up to 25–30% of output losses.

(Source: www.foragegenetics.com/alfalfa-insights/forage-genetics-international-first-to-receive-patent-approval-for-native-trait-resistance-to-anthracnose-race-5-in-alfalfa)

Top Companies Market Share in Alfalfa Industry: (In no particular order of Rank)

• Alfalfa Monegros
• S&W Seed
• Riverina
• Mc Cracken Hay
• Cubeit Hay
• M&C Hay
• Standlee Hay
• Anderson Hay & Grain
• Border Valley
• Carli Group
• Grupo Osés
• Oregon Hay Products 
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the North American Alfalfa Market share was 40% of the total market

According to Cognitive Market Research, North America dominated the market in 2023. It accounted for around 40% of the worldwide revenue, driven by an increasing need for dairy and animal-based goods, reduced land available for animal grazing, and the rise in high-yielding and bred cattle feed requirements. The United States dominates the lucerne market in North America. The United States is making significant efforts to grow and support its cattle sector. The U.S. government unveiled USMCA. Additionally, U.S. meat, dairy, and egg exports to Canada would have greater market access thanks to the USMCA. Exporting their goods internationally will benefit American farmers while boosting the purchase of yolks, meat, and dairy goods in Canada.

APAC is the fastest-growing category due to the region's increasing need for forages, which has increased recently due to the growth of the dairy sector. Major economies such as China and Japan are seeing a steady increase in demand for lucerne hay. The growing consumer demand for dairy and meat in the area has boosted the animal agricultural industry. The growing lucerne industry has been made possible by the expansion of livestock production due to consumer lifestyle changes and the increased meat intake due to its nutritious value. Thus, the demand from the livestock industry and government efforts are driving the expansion of the Asia-Pacific market.

The current report Scope analyzes Alfalfa Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Alfalfa Market

According to Cognitive Market Research, the Worldwide Alfalfa market size was estimated at USD 24512.2 Million, out of which North America held the major market of more than 40% of the worldwide revenue with a market size of USD 9804.88 million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2023 to 2030 is being driven by an increasing need for dairy and animal-based goods, the reduction of land available for animal grazing, and the rise in high-yielding and bred cattle's feed requirements. According to Cognitive Market Research, hay bales Alfalfas held the major market share over the forecast period due to their rise is ascribed to the reality that they offer a more raw and natural kind of feed, which is advantageous for the mental and physical health of some animals, like cows and horses. In contrast to other varieties, the hay has an extended lifespan and does not deteriorate when exposed to dampness. In conclusion, the North American Alfalfa market thrives due to an increasing need for dairy and animal-based goods, reduced land available for animal grazing, and the rise in high-yielding and bred cattle's feed requirements.

• According to Cognitive Market Research, the U.S. had a major share in the Alfalfas market with a size of USD 7736.05 million in 2023 and is projected to grow at a CAGR of 4.5% during the forecast period. It is driven by an increasing need for dairy and animal-based goods, the reduced land available for animal grazing, and the rise in high-yielding and bred cattle feed requirements. 
• The Canadian alfalfas market had a market share of USD 1176.59 million in 2023 and is projected to grow at a CAGR of 5.5% during the forecast period. This is because U.S. meat, dairy, and egg exports to Canada would have greater market access thanks to the USMCA. 
• The Mexico Alfalfas market is projected to grow at a CAGR of 5.2% during the forecast period, with a market size of USD 892.24 million in 2023.

Europe Alfalfa Market

According to Cognitive Market Research, with a market value of USD 24512.2 million in 2023 and projected to expand at a compound annual growth rate (CAGR) of 5% from 2023 to 2030, Europe accounted for a share of over 30% of the Worldwide Alfalfa market size of USD 7353.66 million due to the cattle industry constitutes one of the main drivers of agricultural revenue and land usage in the European Union. Member states range greatly in the relative significance of the various agricultural economy subsectors, which are also impacted by biophysical factors and cultural values. Additionally, being the top exporter of several dairy products, the E.U. plays a significant role in the worldwide dairy industry. These elements indicate that there will be plenty of room for market expansion in this area. According to Cognitive Market Research, pellets alfalfa is the fastest-growing category over the forecast period. The growing demand for premium feed for ruminants has positioned the pellets category to lead in sales over the research period. Ground alfalfa hay, rich in protein, essential vitamins, and minerals, is used to make alfalfa pellets. Furthermore, the main purpose of this part is to feed animals such as pigs, cattle, or chickens. In conclusion, the European Alfalfa market thrives because the cattle industry is one of the main drivers of agricultural revenue and land usage in the European Union.

• According to Cognitive Market Research, the German Alfalfas market size was valued at USD 1456.02 million in 2023 and is projected to grow at a CAGR of 5.2% during the forecast period. This is majorly due to the growing need for forages, which has increased recently due to the growth of the dairy sector. 
• The United Kingdom Alfalfas market had a market share of USD 1235.41 million in 2023 and is projected to grow at a CAGR of 5.8% during the forecast period. This is due to the increased steps taken by the government to increase lucerne output and drive market expansion. 
• The French alfalfas market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 676.54 million in 2023.
• The Italy Alfalfas market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 632.41 million in 2023.
• The Russian alfalfas market is projected to witness growth at a CAGR of 4% during the forecast period, with a market size of USD 1139.82 million in 2023.
• The Spain Alfalfas market is projected to witness growth at a CAGR of 4.1% during the forecast period, with a market size of USD 603.00 million in 2023.
• The Portugal Alfalfas market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 154.43 million in 2023.
• The Luxembourg Alfalfas market is projected to witness growth at a CAGR of 5.1% during the forecast period, with a market size of USD 227.96 million in 2023.
• The Greece Alfalfas market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 88.24 million in 2023.
• The Rest of the European alfalfas market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 1139.82 million in 2023.

Asia Pacific Alfalfa Market

According to Cognitive Market Research, the Worldwide Alfalfa market size was estimated at USD 24512.2 Million, out of which Asia Pacific held the market of more than 23% of the Worldwide revenue with market size of USD 5637.81 million in 2023 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2023 to 2030 due to the region's increasing need for forages has increased recently due to the growth of the dairy sector. Major economies such as China and Japan are seeing a steady increase in demand for lucerne hay. The growing lucerne industry has been made possible by the expansion of livestock production due to consumer lifestyle changes and the increased meat intake due to its nutritious value. According to Cognitive Market Research, Dairy Animal Feed holds a prominent market share due to because there are a lot of cattle animals in every location, and the cattle segment is the market leader. Because there are more horses in Afghanistan, more cattle in Bangladesh, China, India, and Pakistan, and more sheep, goats, and other animals in the Asian region, there is a significant demand for lucerne products as animal feed. As a result, market players have significant possibilities for expansion in this region. In conclusion, the Asia Pacific Alfalfa market shows significant growth due to the region's increasing need for forages, which has recently increased due to the dairy sector's growth. Major economies such as China and Japan are seeing a steady increase in demand for lucerne hay.

• According to Cognitive Market Research, the China Alfalfas market size was valued at USD 2537.01 million in 2023 and is projected to grow at a CAGR of 8.0% during the forecast period. This is majorly due to the growing lucerne industry, which has been made possible by the expansion of livestock production due to consumer changes in lifestyle and the increased intake of meat due to its nutritious value. 
• The India Alfalfas market had a market share of USD 676.54 million in 2023 and is projected to grow at a CAGR of 10.3% during the forecast period. This is due to rising disposable income and growing consumer demand for dairy and meat in the area, which has boosted the animal agricultural industry. 
• The Japan Alfalfas market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 778.02  million in 2023.
• The South Korean Alfalfas market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 563.78 million in 2023.
• The Australian Alfalfas market is projected to witness growth at a CAGR of 8.2% during the forecast period, with a market size of USD 293.17  million in 2023.
• The Southeast Asia Alfalfas market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 389.01 million in 2023.
• The Rest of the Asia Pacific Alfalfas market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 400.28 million in 2023.

South America Alfalfa Market

According to Cognitive Market Research, the Worldwide Alfalfas market size was estimated at USD 24512.2 Million, out of which the Latin America market has more than 5% of the Worldwide revenue with a market size of USD 24.31 million in 2023 and will grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030 as the need for forages has increased recently due to the growth of the dairy sector. The region is seeing a steady increase in demand for lucerne hay. According to Cognitive Market Research, Poultry is the fastest-growing category over the forecast period. Because meat and other non-vegetarian food products are becoming increasingly popular internationally, other animal categories could see potential growth. In recent years, meat consumption has surged in several nations, including China, Japan, Mexico, the United Arab Emirates, and Brazil. As a result, this element presents encouraging prospects for expanding the global market. In conclusion, the Latin American Alfalfa market exhibits steady growth, as the need for forages has recently increased due to the dairy sector's growth.

• According to Cognitive Market Research, Brazil's Alfalfas market size was valued at USD 524.56 million in 2023 and is projected to grow at a CAGR of 6.5% during the forecast period. The need for forage drives has increased recently due to the growth of the dairy sector. 
• The Argentina Alfalfas market had a market share of USD 205.90 million in 2023 and is projected to grow at a CAGR of 6.8% during the forecast period. This is due to the Rising consumer awareness of the need for dairy and animal-based goods. 
• The Colombia Alfalfas market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 109.08 million in 2023.
• The Peru Alfalfas market is projected to witness growth at a CAGR of 6.1% during the forecast period, with a market size of USD 100.50 million in 2023.
• The Chile Alfalfas market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 88.24 million in 2023.
• The Rest of the Latin American Alfalfas market is projected to witness growth at a CAGR of 5% during the forecast period, with a market size of USD 197.32 million in 2023.

Middle East and Africa Alfalfa Market

According to Cognitive Market Research, the Worldwide Alfalfa market size was estimated at USD 24512.2 Million, out of which the Middle East and Africa held the major market of more than 2% of the Worldwide revenue with a market size of USD 9.72 million in 2023 and demand for lucerne has increased due to its growing use in animal feed in emerging nations of MEA region. Furthermore, the region's market is expanding due to the farmers' increasing needs. According to Cognitive Market Research, E-commerce is the fastest-growing category over the forecast period. Customers are shifting their purchases to online channels due to dramatic lifestyle changes and shopping habits. In conclusion, the MEA (Middle East and Africa) Alfalfa market exhibits growth potential because the demand for lucerne has increased due to its growing use in animal feed in emerging nations of the MEA region.

• According to Cognitive Market Research, the GCC Countries Alfalfas market size was valued at USD 209.82 million in 2023 and is projected to grow at a CAGR of 7.0% during the forecast period. This is mainly due to its growing use in animal feed. 
• The South African alfalfas market had a market share of USD 77.46 million in 2023 and is projected to grow at a CAGR of 7.2% during the forecast period. This is due to livestock owners in the area's growing demand for lucerne in their cattle feed. 
• The Egypt Alfalfas market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 51.48 million in 2023.
• The Turkey Alfalfas market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 42.16 million in 2023.
• The Nigeria Alfalfas market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 51.48 million in 2023.
• The Rest of the MEA Alfalfas market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 57.85 million in 2023.

Alfalfa Market Analysis

Alfalfa Type Segment Analysis

According to Cognitive Market Research, hay bales Alfalfas held the major market share over the forecast period due to their rise is ascribed to the reality that they offer a more raw and natural kind of feed, which is advantageous for the mental and physical health of some animals, like cows and horses. In contrast to other varieties, the hay has an extended lifespan and does not deteriorate when exposed to dampness.

Pellets are the fastest-growing category over the forecast period. The growing demand for premium feed for ruminants has positioned the pellets category to lead in sales over the research period. Ground alfalfa hay, rich in protein, essential vitamins, and minerals, is used to make alfalfa pellets. Furthermore, the main purpose of this part is to feed animals such as pigs, cattle, or chickens.

• Hay
• Pellets
• Cubes

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Alfalfa Industry. Request a Free Sample PDF!

Alfalfa Application Segment Analysis

According to Cognitive Market Research, Dairy Animal Feed holds a prominent market share due to because there are a lot of cattle animals in every location, and the cattle segment is the market leader. Because there are more horses in Afghanistan, more cattle in Bangladesh, China, India, and Pakistan, and more sheep, goats, and other animals in the Asian region, there is a significant demand for lucerne products as animal feed. As a result, market players have significant possibilities for expansion in this region.

Poultry is the fastest-growing category over the forecast period. Because meat and other non-vegetarian food products are becoming increasingly popular internationally, other animal categories could see potential growth. In recent years, meat consumption has surged in several nations, including China, Japan, Mexico, the United Arab Emirates, and Brazil. As a result, this element presents encouraging prospects for expanding the global market.

• Meat/Dairy Animal Feed
• Horse Feed
• Poultry
• Swine
• Aquaculture

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Alfalfa Sales Channel Segment Analysis

According to Cognitive Market Research, Retail holds a prominent market share as supermarkets and hypermarkets possess the largest revenue share. Independent retail behemoths like Costco and Walmart are growing their market share and attracting more customers. This channel's sales are mostly driven by customers' desire to view these products in person before purchasing.

According to Cognitive Market Research, E-commerce is the fastest-growing category over the forecast period. Customers are shifting their purchases to online channels due to dramatic lifestyle changes and shopping habits. The market is expanding due to the high levels of simplicity, improved visibility of goods, and at-home delivery alternatives offered by online Sales Channels. Most consumers depend on online merchants to help them navigate the wide range of products available and give them options for returns and exchanges. 

• Direct Sales
• E-commerce
• Retail

Author's Detail

Nisha Deore

Research Analyst at Cognitive Market Research

LinkedIn

Profile

I am a well-organized, conscientious, and professional Research Analyst with two plus years of experience. In my current role, I conduct in-depth secondary research, data mining, competitive analysis, DRO's, PR, and Collateral writing. Whilst I enjoy working as part of a team, researching information, analyzing data, and producing results that help my organization to achieve its commercial and financial objectives.

Author's Conclusion