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Alfalfa Hay Market growth is driven by increasing dairy and animal products demand

Author : Ronak Bora | Published Date : 2019-03-19 

The increasing dairy and animal products demand will be a principal driving factor for the global alfalfa hay market growth. Lifestyle change from active to sedentary will increase the nutritious food demand among the consumers. Increasing awareness about low carbohydrate diet and ketogenic diet plans for healthier lifestyle will also increase milk and other dairy products demand. Increasing life expectancy and milk based diets of senior citizens will also catalyze the industry. Dairy products demand will witness growth by around 2% CAGR in the coming years, boosting the overall alfalfa hay market.

Increase in the number of high yielding cattle and fodder demand for these breeds will also drive alfalfa hay market growth. Rapid urbanization and colonialization of grasslands and expansion of city limits, resulting into shrinking natural grazing ground, will require enhancement in the yield capacity of cattle to meet the growing cattle product demand.

Decreasing agricultural land due to rapid urban development and competition from high value crops are the major threats for the alfalfa hay market. Farmers are opting to grow high value crops because of the higher profits earned posing a serious challenge to the product. Water shortages and lack of irrigation are also hindering the alfalfa hay market as it requires a substantial amount of water to grow.

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By product types alfalfa hay market is segmented into bales, pellets, and cubes. Bales are the most common product type with many specifications like two string bales, three string bales upto six string bales weighing up to half tons, square bales weighing 25 to 35 kg and round bales with a diameter of 1.4 to 1.8 meters weighing 500 to 100 kg. Owing to its availability in many sizes and weights and easy transportability, bales are more popular than pellets and cubes. Finely chopped and fermented alfalfa called haylage is also used for dairy cattle because it retains more nutrient levels and is palatable for cattle.

Alfalfa hay market is segmented per applications into three main categories including meat/dairy animal feed, horse feed and poultry feed. Global demand for processed meat is projected to grow by more than 5% CAGR from 2016 to 2024. Dairy products demand is also increasing, mostly in the developing and least developed countries as a cost-effective protein source and this will contribute to the growth of alfalfa hay market significantly.

North America has the most land under cultivation for alfalfa hay, followed by Europe, Latin America and Asia Pacific. In Europe, Spain alfalfa hay market exported more than 200 kilo tons in 2015 and has a significant share followed by France and Italy. Trade value in North America is higher than Spain because of superior crop quality. Asia Pacific alfalfa hay market is lagging because of unfavorable government policies prioritizing food and cash crops, high grain prices and lack of large commercial farms.

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Major companies in alfalfa hay market are Coaba, Alfalfa Monegros, Los Venteros, SL Follen Company, Grupo Osés, Al Dahra ACX Global, Border Valley, Hay USA, Almarai Company, Knight Ag Sourcing, Anderson Hay & Grain Inc., Haykingdom Inc., Bailey Farms, Green Prairie International, Cubeit Hay Company, M&C Hay, Standlee Hay Company, Riverina (Australia) Pty, Glenvar Hay, McCracken Hay Company.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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