Latest News- Alfalfa Market: Hay is expected to lead the Product segment during 2025-2029

The Alfalfa Market is being driven by Rising population of cattle in farms

The Alfalfa Market is expected to grow at a CAGR of 6.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 8223.4 million. In the past two decades, there has been a significant increase in global trade for forage crops such as hay and silage, expanding from a minor export crop to a widely traded commodity on international markets. This trend has been driven by the rapid expansion of modern dairy farms in Asia, particularly in China and Korea, and the water resource limitations in Middle Eastern countries like Saudi Arabia and the UAE. The international hay trade has nearly doubled in the last 16 years, growing at an average annual rate of approximately 266,000 MT. Japan is also a notable importer of forage crops. This surge in demand is a result of the growing agricultural industry and the need for high-quality feed sources to support intensive livestock production. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Hay
  • Cubes
  • Pellets
• Animal Type
  • Ruminants
  • Horses
  • Poultry
  • Others
• Method
  • Conventional farming
  • Sustainable farming
  • Organic farming
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • France
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising population of cattle in farms
• Growth in consumption of dairy food
• Increasing demand from APAC

However, the market also witnesses some limitations, which are as follows:

• Stringent regulations
• Availability of alternatives
• Spread of various diseases in dairy animals

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Market Scope in Alfalfa Market Research Report

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Research Analysis Overview

Alfalfa is a significant crop with a robust market, encompassing various aspects such as production, marketing, genetics, and breeding. Alfalfa varieties undergo continuous research for improved disease and pest resistance, insect management, and weed control. Alfalfa economics, policy, and regulations shape the supply chain, influencing demand, prices, futures, and derivatives. Byproducts and utilization are essential components of the industry, driving sustainability, innovation, and technology. Precision agriculture, data analytics, remote sensing, and GIS mapping facilitate market analysis and industry advancements. Alfalfa associations play a crucial role in fostering research and collaboration within the sector.

Market Research Overview

The Alfalfa market encompasses vendors engaged in the production and sale of alfalfa seed, hay, dehydrated alfalfa, pellets, and meal. This market segment is excluded from the global packaged foods and meats industry, which primarily focuses on manufacturers and processors extending shelf life and eliminating microorganisms in food products. The Alfalfa market's size is not included in the packaged foods and meats market calculations. Factors driving growth in the Alfalfa market include the nutritional benefits associated with alfalfa consumption, such as its rich content of potassium, dietary fiber, folate, vitamin A, and vitamin C.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/