Global Alfalfa Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Alfalfa Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Alfalfa also called lucerne, is a perennial flowering plant in the legume family Fabaceae. It is cultivated as an important forage crop in many countries around the world. It is used for grazing, hay, and silage, as well as a green manure and cover crop. The name alfalfa is used in North America. The name lucerne is the more commonly used name in the United Kingdom, South Africa, Australia, and New Zealand. The plant superficially resembles clover especially while young, when trifoliate leaves comprising round leaflets predominate. Later in maturity, leaflets are elongated. It has clusters of small purple flowers followed by fruits spiraled in 2 to 3 turns containing 1020 seeds. Alfalfa is native to warmer temperate climates. It has been cultivated as livestock fodder since at least the era of the ancient Greeks and Romans. Alfalfa sprouts are a common ingredient in dishes made in South Indian cuisine.

Market Overview:

The latest research study on the global Alfalfa market finds that the global Alfalfa market reached a value of USD 29205.76 million in 2022. It’s expected that the market will achieve USD 32010.43 million by 2028, exhibiting a CAGR of 1.54% during the forecast period.

Directly affecting production and demand

Factories are shut down, residents are isolated from home, labor is scarce, and the catering industry is also closed. The downstream market demand for dairy products and meat products has dropped sharply, which has also reduced the demand for alfalfa. The lack of labor also reduces the productivity of factories, especially in labor-intensive industries. This hinders the development of the alfalfa market to a certain extent. It is only a short-term impact, but it has a greater impact on SMEs.

Creating supply chain and market disruption

The food supply chain is a complex network involving producers, consumers, agricultural inputs, processing and storage, transportation and marketing. At the beginning of the crisis, because many countries restricted cross-border and cross-border movement of goods and people, alfalfa supply chains were strained, and the cost of obtaining alfalfa increased. In the short term, some countries even restrict food imports to avoid driving up prices. The overall supply chain cycle has become slow, and the cost of forage processing is not small. Because of the reduction in production and price increases, there are behaviors that can easily disrupt the market, but generally the government will take actions to curb this behavior. In the long run, agriculture will be more resilient when affected.

Economic Factors

With the increase of personal disposable income, people's demand for dairy products and beef increases. As a downstream products of alfalfa, it promotes the development and progress of the alfalfa market.
The global market holds a neutral or positive view on the development of animal husbandry, and the favorable development of animal husbandry has also raised investor expectations. For the development of agriculture and dairy products, the investment market allows them to have sufficient funds to expand the development space and promote the demand for alfalfa.

Social Factors

The change in lifestyle from active to sedentary will increase consumer demand for nutritious food. Peoples awareness of low-carbohydrate diets and ketogenic diet plans is increasing in order to achieve a healthier lifestyle, which will also increase the demand for milk and other dairy products. Extending people's life expectancy and a milk-based diet will also promote the development of the industry. Subsequently, the alfalfa market for the upstream dairy industry will also be promoted.
More and more people are joining the ranks of vegetarianism. They believe that vegetarianism is beneficial to reducing environmental damage and reducing greenhouse gas emissions. It also includes reducing global acidification, eutrophication, land use and water use. This reduces the demand for dairy products and meat to a certain extent, and has a negative impact on the alfalfa industry, but the overall impact is not significant.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

Al Dahra ACX Global, Inc. is one of the major players operating in the Alfalfa market, holding a share of 1.2% in 2022.

Al Dahra ACX Global, Inc.

Headquartered in Wilmington, California, Al Dahra ACX, Inc. is the leading North American supplier of forage, roughage, and feed products to Far East markets such as Japan, China, and South Korea as well as Middle East North Africa (MENA) markets such as UAE and Saudi Arabia.

Alfalfa Monegros

Alfalfa Monegros, S.L produces agricultural products. The Company provides alfalfa, pellets, and other animal feed. Alfalfa Monegros serves customers in Spain.

Segmentation Overview:

As for product types, the Hay segment held the largest market share in 2021.

Hay

Alfalfa hay is an excellent source of high-quality protein and fiber, belonging to long fiber. Alfalfa is a legume hay in the pea family, sometimes called Lucerne. These hays have higher protein and mineral content than grass hays and are more delicious. The dried high-quality alfalfa hay is more convenient to store, retaining a large number of leaves, twigs and flower buds and other parts with higher nutritional value, so that all the original nutrients can be retained as much as possible.

Pellet

A product obtained by drying alfalfa through a granulation process. This form is conducive to storage and transportation. It is usually fed to ruminants such as cattle and sheep, and the most important thing is the consumption of dairy cows. Alfalfa pellets have higher protein, which can reduce the amount of concentrated feed to a certain extent. Alfalfa pellets are granular natural high-nutrient feeds. They provide slow release energy in the form of highly digestible fiber and provide high-quality protein and a variety of natural vitamins and minerals. Alfalfa pellets can increase the calories of the cow's diet and increase the protein level in the diet.
Alfalfa pellets are short fibers that can provide high-quality fibers, rich mineral content, high protein, and are easy to transport, store and crush. It can also be widely used in domestic animals and poultry such as sows, rabbits, sheep, geese, ducks, etc. It can be fed directly or added to feed formulations as feed ingredients.

Application Overview:

By application, the Meat/Dairy Animal Feed segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Alfalfa market covered in Chapter 3:

Luzeal
Gruppo Carli
Yasheng Group
Accomazzo Company
Haykingdom Inc.
Los Venteros S.C.
Standlee Hay Company
Grupo Osés
Alfalfa Monegros
Al Dahra ACX Global, Inc.
SL Follen
Cubeit Hay Company
Huishan Dairy
Anderson Hay & Grain
Multi feeds
McCracken Hay Company
Hay USA
Bailey Farms

In Chapter 4 and Chapter 14.2, on the basis of types, the Alfalfa market from 2018 to 2029 is primarily split into:

Hay
Pellet

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Alfalfa market from 2018 to 2029 covers:

Meat/Dairy Animal Feed
Horse Feed
Poultry

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)