Alfalfa Market Analysis and Forecast to 2032: By Application (Dairy Animal Feed, Poultry Feed, and Horse Feed), Type (Bales, Pellets, and Cubes), End-user (Poultry, Cattle and Livestock), and Region
The global alfalfa market was valued at USD 20.0 billion in 2022 and it is anticipated to grow further till USD 40.6 billion by 2032, at a CAGR of 7.3% during the forecast period.
Alfalfa is a perennial flowering plant in the pea family. It is native to temperate regions of the Mediterranean Basin, Asia Minor, and North Africa. Alfalfa is widely cultivated as an animal feed for cattle, horses, and sheep. The plant is also used as a cover crop to improve soil fertility. Alfalfa is high in protein and fiber, and it is a good source of vitamins A, C, and K.
Global Alfalfa Market Scope and Report Structure
| Report Attribute | Details |
|---|---|
| Market Size in 2022 | US$ 20.0 Billion |
| Market Size in 2032 | US$ 40.6 Billion |
| CAGR % | 7.3% |
| Historic Period | 2016-2021 |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Segments Covered | Type, Application, End User, and Region |
| Key Companies | Forage Genetics International, S&W Seed, Alforex Seeds, Arkansas Valley Seed, Pacific Seed Company, Monsanto, Latham Hi-Tech Seed, Kussmaul Seed, Abatti Companies, and TA Seeds among others. |
| Regional Scope | North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
| Analysis Coverage | Market Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments |
Market Driver and Trends
The key drivers of the alfalfa market are the same as any other agricultural commodity: production costs, demand, weather, and government policy.
Production costs are a major driver of alfalfa prices. The cost of seed, fertilizer, and labor all contribute to the cost of producing alfalfa. As the cost of these inputs increase, the price of alfalfa will increase as well.
Demand is another major driver of alfalfa prices. The demand for alfalfa is driven by the demand for dairy and beef products. When demand for these products is high, the price of alfalfa will increase.
Weather is a major driver of alfalfa prices. Alfalfa is a drought-sensitive crop, and drought conditions can lead to lower yields and higher prices.
Government policy can also impact the alfalfa market. Government subsidies and tariffs can impact the price of alfalfa by affecting the demand and supply of the commodity.
Market Restraints and Challenges
One of the key restraints in the alfalfa market is the lack of awareness about the crop among farmers. Alfalfa is not a common crop in many countries and farmers are not familiar with its cultivation practices. This has led to low adoption of alfalfa cultivation, thereby restraining market growth.
Another key restraint in the alfalfa market is the high cost of cultivation. Alfalfa is a high-maintenance crop and requires well-drained soils and a lot of sunlight. This makes it expensive to cultivate, which is a key challenge for farmers.
In addition, alfalfa is a susceptible crop to pests and diseases. This makes it difficult to cultivate and also leads to higher costs for farmers.
Global Alfalfa Market Segmental Overview
The global alfalfa market is segmented into type, application, end user, and region.
Global Alfalfa Market by Type
Based on the type, it is segmented into bales, pellets, and cubes. The bales segment is anticipated to dominate the market during the forecast period. Similarly, the pellets segment is anticipated to witness the fastest growth during the forecast period.
Global Alfalfa Market by Application
Based on the application, it is segmented into dairy animal feed, poultry feed, and horse feed. The dairy animal feed segment is anticipated to dominate the market during the forecast period. Similarly, the poultry feed segment is anticipated to witness the fastest growth during the forecast period.
Global Alfalfa Market by End User
Based on the end user, it is segmented into poultry, cattle, and livestock. The poultry segment is anticipated to dominate the market during the forecast period. Similarly, the cattle segment is anticipated to witness the fastest growth during the forecast period.
Geographical Analysis of the Global Alfalfa Market
Region-wise, it is studied across the North America, Europe, Asia Pacific, and the Rest of the World. The North American region is anticipated to dominate the market during the forecast period. Similarly, the Asia Pacific region is anticipated to witness the fastest growth during the forecast period.
Major Players in the Global Alfalfa Market
The key players in the report are Forage Genetics International, S&W Seed, Alforex Seeds, Arkansas Valley Seed, Pacific Seed Company, Monsanto, Latham Hi-Tech Seed, Kussmaul Seed, Abatti Companies, and TA Seeds among others.
COVID-19 Impact
Numerous markets, particularly the alfalfa industry, were affected by the COVID-19 epidemic. Alfalfa growers all over the world suffered significant losses as a result of the pandemic’s impact on the production process and supply chain networks. Due to the rise in investment in massive-scale dairy operations during the forecast period, commercial dairy operators’ long-term demand for alfalfa is anticipated to rise. The growing need for high-quality hay for the livestock and cattle population, alfalfa prices, and price patterns in alternative feed and forage are the main variables affecting the alfalfa market. Due to the relevance of alfalfa’s crude protein level, it has recently become essential for both animal and poultry feed.
Recent Developments
- November 2020, S&W Seed Company, a global agricultural company, entered into a partnership with Calyxt, Inc. to license an improved quality alfalfa seed in the U.S. and other selected geographies.
- December 2019, Land O’ Lakes launched a new animal feed manufacturing plant in Kenya. The expansion will help the company build its presence and help Kenyan farmers.
Frequently Asked Questions
Q1. How big is the Alfalfa market?
Ans. The global Alfalfa market size was USD 20.0 billion in 2022 and it is anticipated to grow further till USD 40.6 billion by 2032, at a CAGR of 7.3% from 2023 to 2032.
Q2. What is the Alfalfa market growth rate?
Ans. The growth rate of the Alfalfa market is 7.3%.
Q3. Which region holds a major market share for the Alfalfa market?
Ans. North America holds a major market share of the Alfalfa market in 2022.
Q4. Which segment accounted for the largest Alfalfa market share?
Ans. By application, dairy animal feed segment accounted for the largest Alfalfa market share.
Q5. Who are the key players in the Alfalfa market?
Ans. The global Alfalfa market report includes players such as Forage Genetics International, S&W Seed, Alforex Seeds, Arkansas Valley Seed, Pacific Seed Company, Monsanto, Latham Hi-Tech Seed, Kussmaul Seed, Abatti Companies, and TA Seeds among others.
Q6. What are the factors driving the Alfalfa market growth?
Ans. The major factors driving the growth of the market are the growing market in emerging countries.
Q7. What are the key growth strategies of Alfalfa market players?
Ans. The key growth strategies of Alfalfa market players are product launch and product approval.
Q8. Which region will provide more business opportunities for the Alfalfa market during the forecast period?
Ans. The Asia-Pacific region will provide more business opportunities for the Alfalfa market during the forecast period.
Table of Contents
Chapter 1. Market Introduction
1.1. Objectives of the Study
1.2. Market Definition and Research & Scope
1.3. Research Methodologies
1.4. Market Estimation Techniques
Chapter 2. Executive Summary
2.1. Summary
2.2. Key Highlights of the Market
Chapter 3. Alfalfa Market Outlook
3.1. Alfalfa Market segmentation
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market Restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market Opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s Five Forces Analysis
3.3.1. Threat of New Entrants
3.3.2. Threat of Substitutes
3.3.3. Bargaining Power of Buyers
3.3.4. Bargaining Power of Supplier
3.3.5. Competitive Rivalry
3.4. PESTLE Analysis
3.5. Value Chain Analysis
3.5.1. Raw Material Suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or Retailers
3.6. Impact of the Russia and Ukraine War on the Alfalfa Market
Chapter 4. Economic Impact of COVID-19
4.1. Overall Impact of COVID-19
4.2. Impact of COVID On the Alfalfa Market
4.3. Economic Impact Analysis
Chapter 5. Alfalfa Market By Type
5.1. Market Overview
5.2. Bales
5.2.1. Market Size and Forecast, 2021-2031 ($Million)
5.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.3. Pellets
5.3.1. Market Size and Forecast, 2021-2031 ($Million)
5.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
5.4. Cubes
5.4.1. Market Size and Forecast, 2021-2031 ($Million)
5.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 6. Alfalfa Market By Application
6.1. Market Overview
6.2. Daily animal feed
6.2.1. Market Size and Forecast, 2021-2031 ($Million)
6.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.3. Poultry feed
6.3.1. Market Size and Forecast, 2021-2031 ($Million)
6.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
6.4. Horse feed
6.4.1. Market Size and Forecast, 2021-2031 ($Million)
6.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 7. Alfalfa Market By End-User
7.1. Market Overview
7.2. Poultry
7.2.1. Market Size and Forecast, 2021-2031 ($Million)
7.2.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.3. Cattle
7.3.1. Market Size and Forecast, 2021-2031 ($Million)
7.3.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
7.4. Livestock
7.4.1. Market Size and Forecast, 2021-2031 ($Million)
7.4.2. Market Size and Forecast, by Region, 2021-2031 ($Million)
Chapter 8. Alfalfa Market, by Region
8.1. Overview
8.2. North America
8.2.1. Key Market Trends and Opportunities
8.2.2. North America Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.2.3. North America Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.2.4. North America Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.2.5. The U.S.
8.2.5.1. The U.S. Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.2.5.2. The U.S. Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.2.5.3. The U.S. Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.2.6. Canada
8.2.6.1. Canada Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.2.6.2. Canada Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.2.6.3. Canada Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.2.7. Mexico
8.2.7.1. Mexico Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.2.7.2. Mexico Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.2.7.3. Mexico Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.3. Europe
8.3.1. Key Market Trends and Opportunities
8.3.2. Europe Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.3.3. Europe Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.3.4. Europe Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.3.5. Germany
8.3.5.1. Germany Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.3.5.2. Germany Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.3.5.3. Germany Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.3.6. France
8.3.6.1. France Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.3.6.2. France Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.3.6.3. France Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.3.7. U.K.
8.3.7.1. U.K. Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.3.7.2. U.K. Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.3.7.3. U.K. Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.3.8. Spain
8.3.8.1. Spain Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.3.8.2. Spain Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.3.8.3. Spain Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.3.9. Italy
8.3.9.1. Italy Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.3.9.2. Italy Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.3.9.3. Italy Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.3.10. Rest of Europe
8.3.10.1. Rest of Europe Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.3.10.2. Rest of Europe Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.3.10.3. Rest of Europe Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.4. Asia-Pacific
8.4.1. Key Market Trends and Opportunities
8.4.2. Asia-Pacific Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.4.3. Asia-Pacific Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.4.4. Asia-Pacific Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.4.5. China
8.4.5.1. China Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.4.5.2. China Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.4.5.3. China Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.4.6. India
8.4.6.1. India Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.4.6.2. India Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.4.6.3. India Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.4.7. Japan
8.4.7.1. Japan Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.4.7.2. Japan Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.4.7.3. Japan Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.4.8. South Korea
8.4.8.1. South Korea Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.4.8.2. South Korea Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.4.8.3. South Korea Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.4.9. Rest of APAC
8.4.9.1. Rest of APAC Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.4.9.2. Rest of APAC Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.4.9.3. Rest of APAC Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.5. Rest of the World
8.5.1. Key Market Trends and Opportunities
8.5.2. Rest of the World Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.5.3. Rest of the World Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.5.4. Rest of the World Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.5.5. Latin America
8.5.5.1. Latin America Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.5.5.2. Latin America Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.5.5.3. Latin America Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.5.6. Middle East
8.5.6.1. Middle East Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.5.6.2. Middle East Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.5.6.3. Middle East Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
8.5.7. Africa
8.5.7.1. Africa Alfalfa Market Size and Forecast By End-User, 2021-2031, ($Million)
8.5.7.2. Africa Alfalfa Market Size and Forecast By Type, 2021-2031, ($Million)
8.5.7.3. Africa Alfalfa Market Size and Forecast By Application, 2021-2031, ($Million)
Chapter 9. Competitive Landscape
9.1. Market Overview
9.2. Market Share Analysis/Key Player Positioning
9.3. Developmental Strategy Benchmarking
9.3.1. New Product Development
9.3.2. Product Launches
9.3.3. Business Expansions
9.3.4. Partnerships, Joint Ventures, and Collaborations
9.3.5. Mergers and Acquisitions
Chapter 10. Company Profiles
10.1. Forage Genetics International
10.1.1. Company Snapshot
10.1.2. Financial Performance
10.1.3. Product Offerings
10.1.4. Key Strategic Initiatives
10.1.5. SWOT Analysis
10.2. S&W Seed
10.2.1. Company Snapshot
10.2.2. Financial Performance
10.2.3. Product offerings
10.2.4. Key Strategic Initiatives
10.2.5. SWOT Analysis
10.3. Alforex Seeds
10.3.1. Company Snapshot
10.3.2. Financial Performance
10.3.3. Product offerings
10.3.4. Key Strategic Initiatives
10.3.5. SWOT Analysis
10.4. Arkansas Valley Seed
10.4.1. Company Snapshot
10.4.2. Financial Performance
10.4.3. Product offerings
10.4.4. Key Strategic Initiatives
10.4.5. SWOT Analysis
10.5. Pacific Seed Company
10.5.1. Company Snapshot
10.5.2. Financial Performance
10.5.3. Product offerings
10.5.4. Key Strategic Initiatives
10.5.5. SWOT Analysis
10.6. Monsanto
10.6.1. Company Snapshot
10.6.2. Financial Performance
10.6.3. Product offerings
10.6.4. Key Strategic Initiatives
10.6.5. SWOT Analysis
10.7. Latham Hi-Tech Seed
10.7.1. Company Snapshot
10.7.2. Financial Performance
10.7.3. Product offerings
10.7.4. Key Strategic Initiatives
10.7.5. SWOT Analysis
10.8. Kussmaul Seed
10.8.1. Company Snapshot
10.8.2. Financial Performance
10.8.3. Product offerings
10.8.4. Key Strategic Initiatives
10.8.5. SWOT Analysis
10.9. Abatti Companies
10.9.1. Company Snapshot
10.9.2. Financial Performance
10.9.3. Product offerings
10.9.4. Key Strategic Initiatives
10.9.5. SWOT Analysis
10.10. TA Seeds.
10.10.1. Company Snapshot
10.10.2. Financial Performance
10.10.3. Product offerings
10.10.4. Key Strategic Initiatives
10.10.5. SWOT Analysis
*The list of company is subject to change during the final compilation of the report
Key Players
Market Segments
By Applications
- Daily animal feed
- Poultry feed
- Horse feed
By Type
- Bales
- Pellets
- Cubes
By End-user
- Poultry
- Cattle
- Livestock
By Region
-
- North America
- The U.S.
- Canada
- Mexico
- Europe
- The UK
- Germany
- France
- Spain
- Rest of Europe
- The Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- The Middle East
- Africa
- North America