Australia Alfalfa Market - 2023-2030

Australia Alfalfa Market - 2023-2030

Australian alfalfa Market reached US$ 622.8 million in 2022 and is expected to reach US$ 1,143.4 million by 2030, growing with a CAGR of 7.8% during the forecast period 2023-2030.

The alfalfa market in Australia has witnessed significant growth and development as the poultry industries in this region are highly adopting these alfalfa as part of animal diets as they provide essential nutrients and support their growth, reproduction, and overall health. Hence, such factors can help in driving the Australian alfalfa market.

Furthermore, as the demand for alfalfa crops is increasing, manufacturing companies are developing high-quality seeds, for instance, the Barenburg group of companies produces PX1 a high-performing, highly winter-active variety bred from elite parent material from Australia. This breed has improved persistence, pest and disease resistance, and productivity of forage, it can be adapted to various farming systems that demand high-performance products.

The hay alfalfa products of the alfalfa market show dominance in the Australian alfalfa market, as poultry industries are highly adopting these as part of animal diets as they provide essential nutrients, and also help in enhancing the palatability and digestive health in animals. Hence, such factors can help in increasing the market for alfalfa.

Dynamics

Rising Demand For Livestock Farming Industry

The demand for livestock farming is increasing, for instance, according to the Australia Bureau of Statistics report, the cattle slaughtered increased by 8.4 % to 1.8 million, and Beef production increased by 6.6 % to 567,572 tonnes during the September 2023 quarter. Hence, such a high production rate can help in increasing the alfalfa market.

Furthermore, the poultry industries are highly adopting alfalfa are widely utilized and prized forage crops in livestock farming industries as they provide abundant protein and nutritional richness. It plays a pivotal role in nurturing the growth and progression of animals, facilitating their development and well-being.

Product Development

The demand for alfalfa-based products is increasing among poultry industries as they provide high amounts of protein and essential nutrients to animals, and also help in enhancing the reproductive rate, due to which manufacturing companies and the government are highly focusing on the development of the alfalfa market.

Furthermore, In January 2023, China approved imports of eight genetically modified (GM) crops, permitting shipments of GM alfalfa for the first time after a decade-long wait, and import of GM crops used in animal feed, and China also approved a Corteva Inc (CTVA.N), opens new tab glyphosate-resistant canola, Corteva plans to launch its Optimum GLY canola hybrids in North America and Australia. Hence, such initiatives can help in increasing the market growth.

Growing Conditions

The water-intensive nature of alfalfa makes it vulnerable to the impact of climate change, including extreme weather events, droughts, and temperature fluctuations. These climatic variations have the potential to decrease alfalfa yields, leading to both reduced production and compromised quality of alfalfa hay.

Segment Analysis

The Australian alfalfa market is segmented based on animal type and product typ

Increasing Demand for Hay Animal Feed

The Hay alfalfa products segment accounts for the largest share in the Australian alfalfa market, as alfalfa hay provides high protein content, all essential nutrients, and also can be easily digestible and palatability of animals, it can help in increasing the nutrient uptake of animals and also helps in enhancing the growth rate and productivity of animals.

Furthermore, the manufacturing companies are producing innovative high-quality products, for instance, Synergy Seeds company produces ASCEND 10 a highly winter-active alfalfa, that is suitable for desert environments for producing high-quality forage in intensive farming systems. Hence, such products can help in increasing the production of alfalfa.

Competitive landscape

The major Australian players in the market include Barenbrug Australia, Societa Cofica Pty Ltd., S&W Seed Company Australia Pty Ltd., PGG Wrightson Seeds, Peters Commodities Pty Ltd., DLF, CANOWINDRA PRODUCE CO PTY LTD, Al Dahra, Synergy Seeds., and J.T. Johnson & Sons.

COVID-19 Impact Analysis

The pandemic has brought a disruption in the supply chain, many manufacturing companies are shut down due to government lockdown restrictions, which has impacted the availability of products in the market, and companies' economic activity, hence the Covid-19 has shown a negative impact on the Australian alfalfa market.

By Animal Type
• Cattle
• Horses
• Livestock
• Others

By Product Type
• Hay
• Cubles
• Pellets
• Bales
• Others

Key Developments
• In February 2020, S&W Seed Company acquired Pasture Genetics Pty Ltd., the third-largest pasture seed company in Australia. The acquisition will expand and diversify S&W’s product offerings in Australia and follow S&W’s other recent initiatives in the country to become one of the leading suppliers of elite seed genetics to Australian farmers.
• In September 2023, DLF announced the acquisition of the Corteva Agriscience alfalfa breeding program acquisition allows DLFs to access Corteva’s global alfalfa germplasm and breeding program, the Alforex Seeds brand name and trademarks including Hi-Gest alfalfa technology, Hi-Ton performance alfalfa, Hi-Salt salinity tolerant alfalfa, and msSuntra hybrid technology, current commercial alfalfa varieties and select Corteva personnel supporting the alfalfa program.

Why Purchase the Report?
• To visualize the Australian alfalfa market segmentation based on animal type and product type, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of alfalfa market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Australia alfalfa market report would provide approximately 36 tables, 25 figures and 167 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies