Alfalfa Hay Market: Overview
Alfalfa hay is considered as an important feed for cattle, horses, dairy cows, goats and sheep. Canada, Spain, the U.S., Italy, and France are some of the prime countries accounting for alfalfa hey production. Some of the top companies from these countries are actively partaking in the entire supply chain network from sourcing, logistics applications, shipping to distribution and marketing, at the same time placing vital importance on the quality of alfalfa.
Alfalfa Hay Market: Drivers and Restraints
The increasing demand for dairy and animal products, shrinking of the land for grazing of animals, and growth in high yielding cattle, bred cattle demand for feed is driving the alfalfa hay market globally. The demand from commercial dairy operators for alfalfa hay is expected to increase due to the increase in investment in huge scale dairy operations during the forecast period. However, the decreasing land acreage due to drastically growing urbanization, competition regarding high crop value crops, and water restrictions are some of the important factors hindering the growth of alfalfa hay market. The exceptional demand seen in the previous years from several regions have resulted in the price upsurge of alfalfa hay. This has caused the dairy producers to consider the replacement, thus lowering the rates for alfalfa hay again this year. The increasing demand for animal and dairy products across the whole world is likely to increase the demand for alfalfa hay during the forecast period. The alfalfa hay is primarily used for animal rearing and it delivers high feed value. The cost of the alfalfa hay is generally dependent upon the quality of hay produced, the type of harvesting, and the bale size. The high domestic prices of hay in some regions can cause a dampening effect on exports for some markets. On the basis of product type the alfalfa hay market is segmented into bales, pellets, and cubes. The bale segment is expected to account for maximum share in alfalfa hay market.
Alfalfa Hay Market: Segmentation
On the basis of Applications,
- Meat/dairy animal feed
- Horse feed
On the basis of Product Type,
Alfalfa Hay Market: Region Wise Outlook
The global Alfalfa Hay Market is segmented into the seven key regions: North America, Latin America, Western Europe, and Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and Middle East and Africa (MEA). Western Europe has accounted as the largest market for alfalfa hay. Spain is the leading country with the maximum market share in this region followed by France and Italy. Trade value of alfalfa is higher in North America region as compared to Western Europe. Unfavorable government policies in countries like China and India for alfalfa hay, insufficient processing capacity for large-scale commercial farms, and rising grain prices are expected to act as restraints on the alfalfa hay market. The alfalfa market in MEA region is also projected to show significant growth rate during the forecast period followed by Japan.
Alfalfa Hay Market: Key Players
- Alfalfa Monegros, S.L.
- Los Venteros S.C.
- Grupo Osés
- SL Follen Company
- Al Dahra ACX Global, Inc.
- Anderson Hay & Grain Inc.
- Border Valley
- Knight Ag Sourcing
- Hay USA
- Bailey Farms
- Haykingdom Inc.
- Standlee Hay Company
- Green Prairie International
- Cubeit Hay Company
- M&C Hay
- Glenvar Hay
- McCracken Hay Company
- Riverina (Australia) Pty
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in 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.