Global Alfalfa Hay Market Growth, Trends and Forecasts 2022-2027: North America Dominates the Market - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Alfalfa Hay Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.

The alfalfa hay market is projected to register a CAGR of 5.6% during the forecast period (2022-2027).

Over the short term, the market is anticipated to achieve notable growth over the increasing demand for quality hay for livestock and cattle population. Use of alfalfa hay has become critical to animal feed, due to its importance for crude protein content. Alfalfa hay enhances the growth and development of animals at a faster rate, as well as improves milk productivity. Thus, dependence on alfalfa hay for animal feed may continue to drive the alfalfa hay market, over the forecast period.

The increasing 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 globally.

North America is projected to be the largest market for alfalfa hay. China, Japan the United Arab Emirates, and Saudi Arabia are major importers of alfalfa hay from the United States. The United States and Spain are major exporters of alfalfa hay globally. The use of alfalfa hay has become critical to poultry feed, followed by animal feed, in recent years due to its importance for crude protein content. Dependence on alfalfa hay for animal feed may continue to drive the market globally over the forecast period.

Key Market Trends

Increasing Demand for Dairy and Meat Products

Livestock is a major factor responsible for the growth of the alfalfa hay market. The annual growth of meat production and milk production in the developing countries is projected to be 2.4% and 2.5%, respectively, till 2030. This is expected to increase the share of the developing countries in the world's meat production to 66.0%, which will be 247.0 million metric ton, and to 55.0% for milk production, which will be 484.0 million metric ton. Furthermore, there has been immense pressure on the livestock sector to meet the increasing demand for high-value animal protein.

India is the world's largest milk producer, with around 70 million small-scale producers. There has been a growing demand for milk and milk-based products in the country. For instance, in 2021, about 83.0 million metric ton of fluid milk was consumed locally which was 77.0 million metric ton in 2018.

Dependence on alfalfa hay for animal feed may continue to drive the alfalfa hay market, globally, over the forecast period. The demand for alfalfa hay is increasing significantly in China and is driven due to changing production practices in the Chinese dairy industry. This is essentially due to the increasing number of cows raised by modern dairy farmers who prefer using imported hay and commercial feeds. For instance, the cattle population in China had increased from 48.8 million heads to 51.0 million heads by 2020 according to Food and Agriculture Organization. Furthermore, the Chinese government is focusing on boosting the domestic production of alfalfa hay to meet its high demand.

Continual increase in the number of cattle during the period 2017-2021 and increasing demand for quality animal feed are expected to boost the demand for alfalfa hay over the forecast period.

North America Dominates the Market

By far in the United States, the most important hay crop fed to dairy cattle is alfalfa. Dairy utilization account for two-thirds of the total usage of alfalfa in the major dairy-producing states such as California, Wisconsin, New York, Idaho, and New Mexico. Although dairy production is an important market for alfalfa hay, beef producers also utilize alfalfa as a part of forage need depending on availability and price.

Furthermore, Alfalfa hay is the single most predominant legume grown for forage in Canada. It is grown almost 30% of the Canadas cropland and Ontario accounts for 22%. Alberta and Ontario are the major alfalfa hay-producing states in Canada. Hence, increased the demand for alfalfa in both domestic and exports market is anticipated to result in significant growth over the forecast period.

Companies Mentioned

• Al Dahra ACX Global Inc.
• Alfalfa Monegros SL
• Anderson Hay & Grain Inc.
• Bailey Farms
• Border Valley
• Coaba
• Cubeit Hay Company
• Glenvar Hay
• Green Prairie International
• Grupo Oses
• Gruppo Carli
• Hay USA
• Haykingdom Inc.
• Knight AG Sourcing
• Los Venteros SC
• M&C Hay
• McCracken Hay Company
• Riverina (Australia) Pty Ltd
• SL Follen Company
• Standlee Hay Company

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