Alfalfa concentrate is primarily used in animal feed, however in the recent years, it has gained increasing application in human nutrition, owing to its rich source of vitamins, minerals, proteins, and essential amino acids. The alfalfa concentrate is also considered to serve as a valuable source of nutritional components for the food industry. Growing consumer interest in dietary supplements that provide certain physiological and prophylactic effects and help improve one’s health status has been gradually accelerating the demand for alfalfa concentrate. Excellent nutritive profile and high yield along with the ability of alfalfa concentrate to absorb nitrogen make it significant from nutritional perspective, which has further influenced the development of alfalfa concentrate market.
Alfalfa Concentrate Market – Notable Developments
Désialis, Bioriginal Food & Science Corporation, Xi'an Tianrui Biotech Co., Ltd., Swanson Vitamins, Sun Prime, Navchetana Kendra, Xi ‘An Tianyi, JIAHERB Inc., Hunan Nutramax Inc., Nutrilite, Refine Biology, Martin Bauer Group, Nature LLC, Naturalin, LiquaDry, Nanjing Zhi Bai Cui Biology Technology, 3W Biotanical Extract, Changsha Active Ingredients Group, and Acetar Bio-Tech are among the leading players operating in the alfalfa concentrate market.
- In January 2019, JIAHERB Inc., a key player in the alfalfa concentrate market adopted a new technology to launch an innovative juice powder that do not contain excipient and offer better taste, color, and odor than conventional juice powder.
- In November 2018, Martin Bauer Group presented its new product concept – ‘Boost Your Feed. Naturally’ at EuroTier that introduced three new and natural approaches to overcome the current challenges faced in the animal feed industry. According to the company, the product concept focuses on the natural stabilization of feed and its raw materials. Additionally, it entered into partnership with Hayleys Group to cater the global demand for premium quality tea ingredients.
- In August 2018, Chanel, a leading cosmetic brand introduce the new ‘Le Lift’ creams with ingredient derived from alfalfa botanical concentrate and Edulis which offers extremely sensorial textures.
- In April 2018, Luzerne-Research & Development (L-RD) introduced its new superfood with alfalfa protein concentrate – Luzixeen which contains nearly 45-60% of protein, a plant-based alternative to animal-derived proteins.
Alfalfa Concentrate Market Dynamics
Growing awareness of rich health benefits of alfalfa concentrate among global population along with rising number of health-conscious consumers has significantly influenced growth of the alfalfa concentrate market. In the recent times, consumer inclination toward vegan diet has led to a surge in the demand for plant-based proteins and other products which in turn is likely to serve as a catalysts for the growth of alfalfa concentrate market. Further, manufactures of nutraceutical products and dietary supplements are continuously focusing on the development plant-based, non-GMO, and gluten free protein concentrates which will possibly create lucrative opportunities for key market players operating in the manufacturing of alfalfa concentrates. Growing aging population coupled with rising incidences of diseases such as diabetes, high cholesterol, and cardiovascular disease is expected to accelerate the demand and subsequently the future expansion of alfalfa concentrate market.
Poor Solubility and More Availability of Alternatives to Hamper Market Growth
While alfalfa concentrate has gained momentum for its high nutritional content, it has poor solubility and unpleasant sensory properties which limits its application in the food industry. Increasing competition of alfalfa concentrate with other ingredients in dietary or protein supplements and more availability of better plant-based alternatives may create hindrance in the global expansion of alfalfa concentrate market.
Alfalfa Concentrate Market Segmentation
On the basis of product type, the alfalfa concentrate market can be segmented into:
On the basis of end-use application, the alfalfa concentrate market can be segmented into:
- Dairy & Livestock Applications
- Equine & Small Companion Animals
- Medical & Health Products
- Food Industry
- Alfalfa Nutrition
- Alfalfa Protein Concentrate
- Alfalfa Nutrient Concentrate
- Botanical Alfalfa Concentrate
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.