Alfalfa Hay Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Alfalfa Hay Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The alfalfa hay market is projected to register a CAGR of 6.9% during the forecast period (2021-2026). The market was negatively impacted by COVID-19 in 2020. Due to COVID-19, there have been supply chain disruptions in the market. The uncertainty was witnessed across all sectors along the supply chain, including manufacturers, processors, transportation, and consumers. North America is projected to be the largest market for alfalfa hay. China, the United Arab Emirates, and Saudi Arabia are major importers of alfalfa hay from the United States. The United States and Spain are major exporters of alfalfa hay globally. The use of alfalfa hay has become critical to poultry feed, followed by animal feed, in recent years due to its importance for crude protein content. Dependence on alfalfa hay for animal feed may continue to drive the market globally over the forecast period.

Key Market TrendsIncreasing Demand for Dairy and Meat Products

Livestock is a major factor responsible for the growth of the alfalfa hay market. The annual growth of meat production and milk production in the developing countries is projected to be 2.4% and 2.5%, respectively, till 2030. This is expected to increase the share of the developing countries in the world’s meat production to 66.0%, which will be 247.0 million metric ton, and to 55.0% for milk production, which will be 484.0 million metric ton. Furthermore, there has been immense pressure on the livestock sector to meet the increasing demand for high-value animal protein. The demand for alfalfa hay is increasing significantly in China and is driven due to changing production practices in the Chinese dairy industry. This is essentially due to the increasing number of cows raised by modern dairy farmers who prefer using imported hay and commercial feeds. Furthermore, the Chinese government is focusing on boosting the domestic production of alfalfa hay to meet its high demand.

North America Dominates the Market

Some of the alfalfa hay-producing states in the United States, as of 2019, are California with 7,060 thousand metric ton, Idaho with 5,111 thousand metric ton, and Minnesota with 2,966 thousand metric ton. These account for nearly 27.0% of the alfalfa hay production in the country. China, Japan, Saudi Arabia, and the United Arab Emirates are the top export destinations to the United States, and China is expected to remain the key market for US alfalfa hay exports in the near future; almost half of the exports of alfalfa hay are to China. The domestic production of alfalfa hay in Saudi Arabia decreased. As the country needs to satisfy its dairy market demand for alfalfa hay, it mainly relies on imports, and it is also expected to remain one of the key buyers from the US alfalfa hay market.

Competitive Landscape

The alfalfa hay market is highly fragmented. Alfalfa hay supply is concentrated in the United States and Spain, and consumption is concentrated in China, Japan, the United Arab Emirates, and Saudi Arabia. Some of the major players in the market are Al Dahra ACX Global Inc., Alfalfa Monegros SL, Anderson Hay & Grain Inc., Bailey Farms, and Border Valley.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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Companies Mentioned

Al Dahra ACX Global Inc.
Alfalfa Monegros SL
Anderson Hay & Grain Inc.
Bailey Farms
Border Valley
Coaba
Cubeit Hay Company
Glenvar Hay
Green Prairie International
Grupo Osés
Gruppo Carli
Hay USA
Haykingdom Inc.
Knight AG Sourcing
Los Venteros SC
M&C Hay
McCracken Hay Company
Riverina (Australia) Pty Ltd
SL Follen Company
Standlee Hay Company

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