North American Alfalfa Hay Market is anticipated to grow at xx% CAGR from 2021 to 2026 and it is estimated that the North American market was valued at USD xx billion in 2021 and is expected to reach USD xx billion by 2026.
Alfalfa hay is considered as a vital part of the feed given to cattle, horses, dairy cows, goats, and sheep. It is an excellent source of good quality protein and fiber. Alfalfa is legume hay and is sometimes called Lucerne. They have higher protein and mineral content as compared to regular hay and also are more palatable than grass hays. Alfalfa, in particular, is high in energy and is an excellent source of vitamins and minerals. Of all the perennial pasture forages, alfalfa has the highest feed values.
Drivers and Restraints of North America Alfalfa Hay Market:
An increase in the 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. Growing investment in huge scale dairy operations to meet the demands of commercial dairy operators is further expected to aid market growth. 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 the alfalfa hay market.
The growing demand of alfalfa in certain developing regions has led to price surges which in turn has slow down the market growth. This has caused the dairy producers to consider the replacement, thus lowering the rates for alfalfa hay again this year. An increase in the 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. High prices of alfalfa in certain is anticipated to hinder the growth of the market.
North America Alfalfa Hay Market - By Type:
Pellets
North America Alfalfa Hay Market - By Application:
Geographical Analysis:
Based on geography, the market is segmented into the
North America is the leading producer of alfalfa hay. The U.S. is the largest producer of alfalfa hay due to the availability of a considerable amount of arable lands.
Key Players:
Some of the key players dominating the market are Alfalfa Monegros, S.L., Coaba, Los Venteros S.C., Grupo Osés, Haykingdom Inc, STANDLEE HAY COMPANY, Green Prairie International, Cubeit Hay Company, M&C Hay, Glenvar Hay, McCRACKEN HAY COMPANY, SL Follen Company, Anderson Hay & Grain Inc., Border Valley, Knight Ag Sourcing, Hay USA, Bailey Farms, Riverina Pty Ltd and Gruppo Carli
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