Alfalfa Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Alfalfa Market
The Alfalfa market size was valued at USD 25.66 billion in 2023, and the market is now projected to grow from USD 27.30 billion in 2024 to USD 46.56 billion by 2032, exhibiting a CAGR of 6.9% during the forecast period of 2024-2032.
Asia Pacific is home to the larger part of the world's animal population, and it has the greatest horse feed market share. However, since of the COVID-19 widespread, horse feed hay imports, production, and exports within the Asia Pacific region have been delayed until 2020. In spite of the truth that demand for animal feed has remained generally reliable in 2020, the coronavirus flare-up has had a noteworthy effect on supply.
There has been a nonstop increment within the horse populace within the last few years. The development of wild horse species is comparatively exceptionally quick with other species.The item cubes are considered overwhelming food for species such as chicken, sheep, and goats. Additionally, pellets are costlier than the hay parcels, have double the cost of hay bunches and are simple to carry than the hay bunches. Thus farmers in developed regions with the capacity to manage the pellets chose them over roughage parcels and cubes.
A huge growth is being witnessed in the cattle feed business sector as the market is evolving with ace persisting on the development by milk marketers starting to utilize conventional cattle feed with a balanced nutritious compound feed. Owners of the domestic animals have experienced the evident benefits of advancements and yield of offering wholesome feed. The nation playing a pioneer in the livestock production is considered to be the Asia-Pacific globally. The expansion of the market is being driven by the rising utilization of animal products with the correspondence to standardize living benchmarks and populace development.
Comprehensive Analysis Of Alfalfa Market
Based on animal sort, the section incorporates cattle, horses, others. The cattle fragment rules the advertise owing to a huge number of cattle creatures in all the regions. Hay portion dominates the worldwide market in 2020 and is anticipated to hold its dominance amid the estimate period. Feed is the conventional item well known among agriculturists from all pay groups. Whereas agriculturists with more pay are transitioning towards cubes and pellets, farmers from creating nations still incline toward roughage to feed creatures as they cannot bear cubes and pellets.
Asia Pacific held the major market share with an esteem value of USD 12.54 Billion in 2023. The expanding selection of horse feed in animal feed in creating nations such as India, Indonesia, Vietnam, Australia, Bangladesh, and Pakistan has hoisted its demand over the past few a long time.
Horse feed industry comprises of neighborhood and worldwide advertise players, and the number of nearby players in this market is more than the universal players. Market players are persistently growing their businesses and grow their impression in new nations. A number of major players within the advertise include Green Prairie International Inc (Alberta, Canada), Cubeit Hay Company (Idaho, U.S.), Alfalfa Monegros, S.L. (Huesca, Spain), Old Manor Farm Ltd. (Bedfordshire, U.K.), Standlee Premium Products, LLC (Idaho, U.S.), Anderson Hay & Grain Inc. (Washington, U.S.), SL Follen Company (Oregon, U.S.), Bailey Farms (Utah, U.S.), Haykingdom Inc. (California, U.S.), Barr-Ag Ltd. (Alberta, Canada).
In November 2020 the company S&W Seed Company, a worldwide agrarian company, entered into a association with Calyxt, Inc. to permit an improved quality horse feed seed within the U.S. and other chosen geographies.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.9% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Animal Type
Cattle
Horses
Others
By Feed Type
Hay
Cubes
Pellets
By Geography
North America (By Animal Type, Feed Type, and Country)
- U.S. (By Animal Type)
- Canada (By Animal Type)
- Mexico (By Animal Type)
Europe (By Animal Type, Feed Type, and Country)
- France (By Animal Type)
- Spain (By Animal Type)
- U.K. (By Animal Type)
- Italy (By Animal Type)
- Germany (By Animal Type)
- Rest of Europe (By Animal Type)
Asia Pacific (By Animal Type, Feed Type, and Country)
- China (By Animal Type)
- India (By Animal Type)
- Japan (By Animal Type)
- Australia (By Animal Type)
- Rest of Asia Pacific (By Animal Type)
South America (By Animal Type, Feed Type, and Country)
- Argentina (By Animal Type)
- Brazil (By Animal Type)
- Rest of South America (By Animal Type)
Middle East and Africa (By Animal Type, Feed Type, and Country)
- UAE (By Animal Type)
- South Africa (By Animal Type)
- Rest of the Middle East & Africa (By Animal Type)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Supply Chain and Regulatory Analysis
- 4.3. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.4. Qualitative Analysis Related to COVID-19
- 4.4.1. Impact of COVID-19 on the Market
- 4.4.2. Supply Chain Challenges amidst Pandemic
- 4.4.3. Potential Opportunities due to this Global Crisis
- 5. Global Alfalfa Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Animal Type
- 5.2.1.1. Cattle
- 5.2.1.2. Horse
- 5.2.1.3. Others
- 5.2.2. By Feed Type
- 5.2.2.1. Hay
- 5.2.2.2. Cubes
- 5.2.2.3. Pellets
- 5.2.3. By Region
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Alfalfa Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Animal Type
- 6.2.1.1. Cattle
- 6.2.1.2. Horse
- 6.2.1.3. Others
- 6.2.2. By Feed Type
- 6.2.2.1. Hay
- 6.2.2.2. Cubes
- 6.2.2.3. Pellets
- 6.2.3. By Country (Value)
- 6.2.3.1. U.S
- 6.2.3.1.1. By Animal Type (Value)
- 6.2.3.1.1.1. Cattle
- 6.2.3.1.1.2. Horse
- 6.2.3.1.1.3. Others
- 6.2.3.2. Canada
- 6.2.3.2.1. By Animal Type (Value)
- 6.2.3.2.1.1. Cattle
- 6.2.3.2.1.2. Horse
- 6.2.3.2.1.3. Others
- 6.2.3.3. Mexico
- 6.2.3.3.1. By Animal Type (Value)
- 6.2.3.3.1.1. Cattle
- 6.2.3.3.1.2. Horse
- 6.2.3.3.1.3. Others
- 7. Europe Alfalfa Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Animal Type
- 7.2.1.1. Cattle
- 7.2.1.2. Horse
- 7.2.1.3. Others
- 7.2.2. By Feed Type
- 7.2.2.1. Hay
- 7.2.2.2. Cubes
- 7.2.2.3. Pellets
- 7.2.3. By Country (Value)
- 7.2.3.1. France
- 7.2.3.1.1. By Animal Type (Value)
- 7.2.3.1.1.1. Cattle
- 7.2.3.1.1.2. Horse
- 7.2.3.1.1.3. Others
- 7.2.3.2. Spain
- 7.2.3.2.1. By Animal Type (Value)
- 7.2.3.2.1.1. Cattle
- 7.2.3.2.1.2. Horse
- 7.2.3.2.1.3. Others
- 7.2.3.3. UK
- 7.2.3.3.1. By Animal Type (Value)
- 7.2.3.3.1.1. Cattle
- 7.2.3.3.1.2. Horse
- 7.2.3.3.1.3. Others
- 7.2.3.4. Italy
- 7.2.3.4.1. By Animal Type (Value)
- 7.2.3.4.1.1. Cattle
- 7.2.3.4.1.2. Horse
- 7.2.3.4.1.3. Others
- 7.2.3.5. Germany
- 7.2.3.5.1. By Animal Type (Value)
- 7.2.3.5.1.1. Cattle
- 7.2.3.5.1.2. Horse
- 7.2.3.5.1.3. Others
- 7.2.3.6. Rest of Europe
- 7.2.3.6.1. By Animal Type (Value)
- 7.2.3.6.1.1. Cattle
- 7.2.3.6.1.2. Horse
- 7.2.3.6.1.3. Others
- 8. Asia Pacific Alfalfa Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Animal Type
- 8.2.1.1. Cattle
- 8.2.1.2. Horse
- 8.2.1.3. Others
- 8.2.2. By Feed Type
- 8.2.2.1. Hay
- 8.2.2.2. Cubes
- 8.2.2.3. Pellets
- 8.2.3. By Country (Value)
- 8.2.3.1. China
- 8.2.3.1.1. By Animal Type (Value)
- 8.2.3.1.1.1. Cattle
- 8.2.3.1.1.2. Horse
- 8.2.3.1.1.3. Others
- 8.2.3.2. India
- 8.2.3.2.1. By Animal Type (Value)
- 8.2.3.2.1.1. Cattle
- 8.2.3.2.1.2. Horse
- 8.2.3.2.1.3. Others
- 8.2.3.3. Japan
- 8.2.3.3.1. By Animal Type (Value)
- 8.2.3.3.1.1. Cattle
- 8.2.3.3.1.2. Horse
- 8.2.3.3.1.3. Others
- 8.2.3.4. Australia
- 8.2.3.4.1. By Animal Type (Value)
- 8.2.3.4.1.1. Cattle
- 8.2.3.4.1.2. Horse
- 8.2.3.4.1.3. Institutes
- 8.2.3.4.1.4. Others
- 8.2.3.5. Rest of Asia Pacific
- 8.2.3.5.1. By Animal Type (Value)
- 8.2.3.5.1.1. Cattle
- 8.2.3.5.1.2. Horse
- 8.2.3.5.1.3. Institutes
- 8.2.3.5.1.4. Others
- 9. South America Alfalfa Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Animal Type
- 9.2.1.1. Cattle
- 9.2.1.2. Horse
- 9.2.1.3. Others
- 9.2.2. By Feed Type
- 9.2.2.1. Hay
- 9.2.2.2. Cubes
- 9.2.2.3. Pellets
- 9.2.3. By Country (Value)
- 9.2.3.1. Argentina
- 9.2.3.1.1. By Animal Type (Value)
- 9.2.3.1.1.1. Cattle
- 9.2.3.1.1.2. Horse
- 9.2.3.1.1.3. Others
- 9.2.3.2. Brazil
- 9.2.3.2.1. By Animal Type (Value)
- 9.2.3.2.1.1. Cattle
- 9.2.3.2.1.2. Horse
- 9.2.3.2.1.3. Others
- 9.2.3.3. Rest of South America
- 9.2.3.3.1. By Animal Type (Value)
- 9.2.3.3.1.1. Cattle
- 9.2.3.3.1.2. Horse
- 9.2.3.3.1.3. Others
- 10. Middle East & Africa Alfalfa Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Animal Type
- 10.2.1.1. Cattle
- 10.2.1.2. Horse
- 10.2.1.3. Others
- 10.2.2. By Feed Type
- 10.2.2.1. Hay
- 10.2.2.2. Cubes
- 10.2.2.3. Pellets
- 10.2.3. By Country (Value)
- 10.2.3.1.
- 10.2.3.1.1. UAE
- 10.2.3.1.1.1. By Animal Type (Value)
- 10.2.3.1.1.1.1. Cattle
- 10.2.3.1.1.1.2. Horse
- 10.2.3.1.1.1.3. Others
- 10.2.3.1.2. South Africa
- 10.2.3.1.2.1. By Animal Type (Value)
- 10.2.3.1.2.1.1. Cattle
- 10.2.3.1.2.1.2. Horse
- 10.2.3.1.2.1.3. Others
- 10.2.3.1.3. Rest of Middle East & Africa
- 10.2.3.1.3.1. By Animal Type (Value)
- 10.2.3.1.3.1.1. Cattle
- 10.2.3.1.3.1.2. Horse
- 10.2.3.1.3.1.3. Others
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Alfalfa Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2023
- 12. Company Profiles
- 12.1. Alfalfa Monegros, S.L.
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Anderson Hay & Grain Inc.
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Standlee Premium Products, LLC
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Green Prairie International Inc
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. SL Follen Company
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Bailey Farms
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Haykingdom Inc.
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Cubeit Hay Company
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Old Manor Farm Ltd.
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Barr-Ag Ltd.
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Appendix
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