What Factors Propelled The Growth Of The Alfalfa Market In The Past?
The alfalfa market has seen considerable growth due to a variety of factors.
•In the latest years, the alfalfa market size has seen robust growth. It is set to expand from $29.09 billion in 2024 to $31.03 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.7%.
This growth during the prior period can be tied to the heightened demand for honey, wax and propolis, the expansion of the bee product market, increased recognition of the decline in bee populations, and the global commerce of bee products.
What Is The Projected Growth And Market Size For The Alfalfa Sector?
The alfalfa market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the alfalfa market is predicted to experience significant expansion, with projections suggesting it will reach a value of $40.73 billion in 2029, growing with a compound annual growth rate (CAGR) of 7.0%.
This forthcoming growth in the predicted period can be accredited to the global demand for pollination, the increase in non-food bee products, the management of bee health, practices related to regenerative agriculture, alternative income channels for farmers, and the surge in urban beekeeping. Notable tendencies expected within the forecast period comprise the integration of technology in beekeeping, management of bee health and diseases, initiatives endorsing bee-friendly agriculture, educational and training programs, along with alternative pollinators.
What Are The Core Factors Supporting Growth In The Alfalfa Market?
The forward momentum of the alfalfa market is anticipated to be steeped by a surge in the need for animal feed. This consumable, eaten by animals, aims to provide them with energy, nutritious elements, or both as part of their dietary requirements. Alfalfa hay, which is used as a source of protein, can be consumed by cattle and horses. It's a rich protein diet given to cattle that feed on poor quality grass hay or feast on corn stalks. This uptick in animal feed requirement has indirectly triggered the growth of the alfalfa market. To exemplify, data suggested by Agriculture and Horticulture Development Board, a statutory levy board based out of the UK, indicate that poultry feed production in 2022-2023 reached 3,434.1 Mt. However, it witnessed an increase in 2023-2024, pushing the figures to 3,567.5 Mt, an incremental growth of 3.9%. Hence, the growing demand for animal feed is an influential factor contributing to the expansion of the alfalfa market moving forward.
What Are The Major Segments Within The Global Alfalfa Market?
The alfalfa market covered in this report is segmented –
1) By Product Type: Pellets, Hay, Cubes, Other Product Type
2) By Animal Type: Cattle, Horses, Other Animal Type
3) By Application: Animal Feed, Forage, Biofuel
Subsegments:
1) By Pellets: Compressed Pellets, Expander Pellets
2) By Hay: Loose Hay, Baled Hay
3) By Cubes: Compressed Cubes, Expander Cubes
4) By Other Product Type: Alfalfa Meal, Alfalfa Granules, Alfalfa Chaff
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Which Trends Are Expected To Transform The Alfalfa Market?
The trend of product innovation is becoming increasingly prevalent in the alfalfa market. To maintain their market positions, companies in the alfalfa market are leveraging emerging technologies. For example, Alforex Seeds LLC, an American agricultural chemicals and seeds producer, launched AFX 647 Hi-Salt Alfalfa in April 2022. This FD 6 semi-dormant cultivar stands out with its excellent yield and forage quality traits, as well as germination and salinity tolerance for demanding soils. It surpasses Cisco II by 4% in terms of lucerne yield in specific studies. It equips farmers with a potent tool to boost both germination and productiveness in lucerne fields, whether irrigated or dry. Furthermore, this type increases the salinity tolerance beyond unimproved variations, helping to maximize seasonal feed production.
Who Are the Key Players in the Alfalfa Market?
Major companies operating in the alfalfa market include:
• Alfalfa Monegros SL
• Anderson Hay & Grain Co Inc.
• Green Prairie International Inc.
• SL Follen Company
• Bailey Farms Inc.
• HayKingdom Inc.
• Cubeit Hay Company
• McCracken Hay Company
• Border Valley
• Carli Group
• M&C Hay
• Al Dahra ACX Global Inc.
• La Crosse Forage And Turf Seeds
• Limagrain Holdings SAS
• Monsanto Company
• Syngenta AG
• CHS Inc.
• Riverina Pty. Ltd.
• Standlee Hay Company
• Dairyland Seed Co. Inc.
• Allied Seed LLC
• Ampac Seed Company
• Bayer AG
• Corteva Inc.
• DLF Seeds A/S
• KWS SAAT SE & Co. KGaA
• Land O'Lakes Inc.
• NAFOSA
• California Alfalfa Products Inc.
What Is The Most Dominant Region In The Alfalfa Market?
North America was the largest region in the alfalfa market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global alfalfa market during the forecast period. The regions covered in the alfalfa market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
