Among all forage crops in the world, alfalfa is considered as the most important. Alfalfa is one the top five crops that are grown in the United States of America (USA). Alfalfa is a huge market in the cattle feed production sector because it makes excellent animal feed. Not only alfalfa is a rich source of minerals and vitamins, it also contains up to 22% of crude protein.
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Alfalfa offers vitamins such as A, B1, B2, B12, C, B6, D, E, K, and U to the animals. It also contains nutritive acids such as such as biotin, folic acid, inositol, niacin, and pantothenic acid. Apart from these, alfalfa also has high levels of boron, calcium, chlorine, cobalt, copper, iron, magnesium, manganese, phosphorus, potassium, sodium, and sulfur. Medicago Sativa is the scientific name for alfalfa hay. It is also known as Lucerne hay or Lucerne grass. Being one of the most important forage crops cultivated in agriculture, alfalfa hay is widely grown throughout the world as forage for cattle. Usually, it is harvested as hay. Compared to all commonly grown hay crops, alfalfa has the highest feeding value, which has contributed towards the growth of global alfalfa market. Due to high protein content, alfalfa is widely used as feed for cattle (such as cow and goats), horses, and sheep. The increasing need for roughage in livestock feed that alfalfa can provide, showcases positive growth prospects for alfalfa market over the forecast period.
The increasing demand for dairy and meat products is fueling the growth of global alfalfa market. According to reports, by 2029, the annual growth of meat production and milk production in the developing countries has been projected to be 2.4% and 2.5%, respectively. Hence, 66% increase in the share of the developing countries in the world’s meat production can be expected in the near future. In terms of revenue, alfalfa market was valued at US$ 22.07 Bn in 2020 growing at a CAGR of 5% over the forecast period (2021 – 2029). According to Absolute Markets Insights report, meals segment is expected to become the fastest growing category during the forecast period in the global alfalfa market. Alfalfa meal is not only a good source of protein (about 17% protein) for chickens, but it also contains high amount of trace minerals. With the availability of organic alfalfa meal increasing, its demand and market is also rapidly increasing.
Some of the players operating in the alfalfa market are Alfalfa Monegros, Anderson Hay & Grain Co. Inc., BORDER VALLEY TRADING, Green Prairie International Inc., Grupo Osés (Nafosa), Hindustan Animal Feeds, IVERINA STOCK FEEDS, SL Follen Company, The Accomazzo Company, and The Fertrell Company amongst other market participants.
Global Alfalfa Market:
By Product Type
- Pellets
- Bales
- Cubes
- Meal
- Others
By Animal Type
- Ruminants
- Equines
- Poultry
- Others
By Distribution Channel
- Direct
- Indirect
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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