Alfalfa Hay Market to exceed US$ 21.56 billion to 2030

    Published on 12-Mar-2024
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    Report : Alfalfa Hay Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Alfalfa Hay Bales, Alfalfa Hay Pellets, Alfalfa Hay Cubes, and Others), Application (Ruminant Feed, Equine Feed, Poultry Feed, and Others), and Geography

    The scope of our recent study on the "Alfalfa Hay Market Forecast to 2030 - Global Analysis - by Type and Application" includes the factors fueling the alfalfa hay market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.

    The alfalfa hay market size was valued at US$ 15.99 billion in 2022 and is projected to reach US$ 21.56 billion by 2030; it is expected to register a CAGR of 3.8% during 2022-2030.

    Alfalfa hay, also known as lucerne, is one of the main sources of energy and protein for livestock animals, especially ruminants and equine. It is widely grown in the US, Canada, France, Spain, and Italy. Alfalfa hay being widely used in the cattle and equine feed from many years. Nowadays, there has been significant increase in the livestock population due to rising demand for meat, dairy products, and from the agriculture sector. This factor is fueling the demand for alfalfa hay, driving the alfalfa hay market growth.

    The demand for alfalfa hay as equine feed is surging owing to its exceptional nutritional profile, which is specifically expected to benefit horses. Alfalfa hay is enriched with protein content, which is crucial for supporting muscle development, repair, and overall athletic performance in horses. It has a crude protein content of 17%, which satisfies the protein requirements of young and growing horses. In addition, alfalfa hay is rich in fiber, which aids in maintaining healthy digestion and preventing digestive issues such as colic and ulcers. A study conducted at Texas A&M University stated that in 2022 an overall drop in the ulcer severity scores of the horses fed on alfalfa. In addition, horses require a diet that closely mimics their natural grazing habits, and alfalfa provides a nutritional and palatable forage option that fulfills this need. As a result, horse owners and trainers seek this hay as a horse feed ingredient to optimize their animal's health and well-being.

    Alfalfa hay provides a reliable source of essential vitamins and minerals for maintaining overall horse health. It contains key nutrients such as calcium, phosphorus, potassium, and vitamin A, vital for bone strength, electrolyte balance, and immune function. As horse owners have become more conscious about providing balanced and nutrient-rich diets for their animals, the demand for alfalfa hay as a foundational component of equine feed would continue to grow in the near future. Additionally, the versatility of alfalfa hay makes it an ideal feed option for horses with specific dietary requirements or health conditions. Thus, the rising demand for alfalfa hay for equine feed is expected to open lucrative opportunities in the alfalfa hay market over the forecast period.

    The US is one of the significant producers and exporters of alfalfa hay globally. The demand for alfalfa hay is surging in the US due to the robust livestock industry, growing awareness of the nutritional benefits of alfalfa hay, and increasing adoption of sustainable agricultural practices. According to Horse Industry Statistics, there are 7.25 million horses in the US as of 2024. With the US being a significant player in the equine industry, there is a consistent need for high-quality feed to support the health and productivity of livestock. Also, US is the largest producer of alfalfa hay, in 2022 the alfalfa hay production accounted for 48 million tons. The country accounts for almost 48% in exports accounting for approximately 2 billion export value. Additionally, as consumers become more conscious about animal welfare and environmentally friendly farming practices, the demand for alfalfa hay produced using sustainable methods would continue to grow in the coming years.

    On the basis of application, the market is segmented into ruminant feed, poultry feed, equine feed, and others. The global alfalfa hay market share for the ruminant feed segment was the largest in 2022 and the equine feed segment is expected to register a higher CAGR from 2022 to 2030. Ruminant feed application of alfalfa hay includes ruminants such as dairy cows, beef cattle, and sheep. Alfalfa hay is highly nutritious, containing essential vitamins, minerals, and proteins, which support optimal rumen function and overall animal health. Its high protein content helps stimulate milk production in dairy cows, leading to better yields and improved milk quality. Additionally, the digestible fiber content of alfalfa hay aids in maintaining healthy rumen conditions, enhancing digestion and nutrient absorption. Further, the year-round availability of alfalfa hay provides a consistent source of quality forage, reducing the risk of nutritional deficiencies and ensuring steady growth and production in ruminant livestock.

    The market is segmented into five main regions-North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In terms of revenue, North America dominated the alfalfa hay market share, followed by Asia Pacific and Europe. In Asia Pacific, China is one of the largest importers of alfalfa hay. China has a developed animal feed and livestock industry. According to the Alltech Global Feed Survey 2021 report, it ranks first in feed production worldwide. In recent years, there has been a significant surge in demand for meat and dairy products in China mainly due to increased focus on improving health through nutrient intake (especially after the onset of the COVID-19 pandemic). Thus, with the subsequent rise in meat and dairy production, the demand for nutritional feed such as alfalfa hay also increases significantly across the country. However, China's alfalfa hay production levels fail to address the domestic demand. Thus, the country depends on imports to meet its total alfalfa hay needs. It is the largest importer of alfalfa hay in Asia Pacific, with the US being the major exporter of alfalfa hay to China.

    Steadily increasing population and per capita income, rising demand for dairy and animal products, surging government support for agriculture, and shrinking land areas for grazing animals are among the noteworthy factors contributing to the alfalfa market growth in China. In recent years, the government of China has allowed the use of more land for alfalfa farming. Alfalfa producers have adopted modern and centralized practices, leading to an increase in quantities transported across the country.

    Global Alfalfa Hay Market Breakdown - by Region

    The report includes the segmentation of the global alfalfa hay market as follows:

    The global alfalfa hay market is segmented based on type and application. Based on type, the market is categorized into alfalfa hay bales, alfalfa hay pellets, alfalfa hay cubes, and others. Based on application, the market is segmented into ruminant feed, equine feed, poultry feed, and others.

    By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The alfalfa hay market in Europe is sub-segmented into Germany, France, the UK, Italy, Sweden, and the Rest of Europe. The Asia Pacific alfalfa hay market is further categorized into China, Pakistan, Japan, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.


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