The Global Alfalfa market was estimated at 250.08 metric tons in 2021 and is projected to reach 265.33 metric tons by 2028, growing at a CAGR of 6.1% over the analysis period.
Alfalfa is a tonic plant rich in proteins, minerals, enzymes, and vitamins. A bulk quantity of the whole plant is required in the pharmaceutical industries, especially for homeopathic pharmacies. The increasing awareness regarding animal nutrition among the people is one of the important key factors driving the growth of the market. This can be attributed to the increasing consumer demand for chemical-free meat and milk-based products. Product manufacturers are using innovative processing and harvesting machinery to produce long-fiber hay cubes and hay products with enhanced fiber content.
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Segmentation Alfalfa Market:
By Feed Type
- Hays
- Bales
- Pellets
- Cubes
By Application
- Dairy Cow Feed
- Cattle and Sheep Feed
- Pig Feed
- Horse Feed
- Poultry Feed
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Covid-19 Impact Analysis On Alfalfa Market
The Novel Coronavirus leads to an increase in the market ambiguity, leading to the overall shutdown of the production units, and disruption in the supply chain and logistics ecosystem. Owing to the Coronavirus pandemic, the Alfalfa market faced a bump in its growth. Due to the sudden COVID-19 pandemic, there have been various supply chain disruptions in the market. COVID-19 has led to severe restrictions on the movements of people and goods imposed in the initial months were having widespread negative effects on the industry across the globe. The uncertainty was witnessed across all sectors along the supply chain, including manufacturers, processors, transportation, and consumers. The usage of alfalfa hay has become critical to poultry feed, which is followed by animal feed in past years, due to its importance for crude protein content. Dependence on alfalfa hay for animal feed may continue further to propel the alfalfa hay market, globally, over the forecast period.
Regional Analysis
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
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Top Key Players Covered In Alfalfa Market
- SW Seed (US)
- Riverina (Australia)
- Mc Cracken Hay (US)
- Cubeit Hay (US)
- Standlee Hay (US)
- Anderson Hay Grain (WA)
- Border Valley (India)
- Carli Group (Italy)
- Haykingdom Inc (US)
- Al Dahra ACX Global Inc. (Los Angeles)
- Bailey Farms International (US)
- Green Prairie International Inc- (Canada)
- Hay USA Inc. (US)
- Oxbow Animal Health (US) and other major players.
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