Global Alfalfa Market: Overview
Alfalfa plays a significant role as a type of livestock forage for the animal feed due to its high protein and digestible fibre content. The crop is mainly used for feeding dairy cows, cattle, horses, sheep, and goats. The key countries producing alfalfa include Italy, Canada, France, The U.S., and Spain. The United States is the world leader in alfalfa production and export, Japan being the chief importer of US alfalfa hay. Alfalfa hay demand is mainly driven by its high nutrient content as alfalfa is a rich source for protein and energy that helps improve: the lactation, reproduction, maintenance and growth of the livestock.
Global Alfalfa Market: Drivers and Restraints
Increasing high quality hay demand for increasing milk production in dairy cattle is the key driving factor for global alfalfa market. Moreover, owing to benefits of alfalfa including high nutrient content, rich source for protein and energy that helps improve: the lactation, reproduction, maintenance and growth of the livestock, the global alfalfa market is expected to grow significantly in the near future. However, changing water restrictions government policies and competition with high-value crops are some of the restraining factors for the global alfalfa market. With the accelerating global demand for alfalfa, the prices for alfalfa are high, which have led dairy producers to search for the replacements.
Global Alfalfa Market: Segmentation
On the basis of application, market is segmented into:-
On the basis of product type, market is segmented into:-
On the basis of product offerings, market is segmented in:-
Global Alfalfa Market: Region wise Outlook
The global alfalfa market is divided into seven regions, namely Eastern Europe, Latin America, Asia Pacific excluding Japan (APEJ), North America, Japan, Western Europe, and Middle East and Africa (MEA).In the global alfalfa market North America holds the major market share, of which, USA has been the highest contributor for the North America alfalfa market. In the Western Europe, Spain has been the principal exporter for the alfalfa hay entailed by France, and Italy, thus contributing significantly to the Europe alfalfa market. Though, USA produces better quality crops in comparison to Spain. In MEA region, among the different GCC countries, Saudi Arabia is the major importers of alfalfa. Also, Japan is the chief importer of US hay, trailed by China, Korea and others.
Global Alfalfa Market: Key Players