Market Size of United States Alfalfa Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US Alfalfa Market Analysis
The United States alfalfa hay market is expected to register a CAGR of 8.7% during the forecast period.
- The use of alfalfa hay has become critical to poultry feed, followed by animal feed in recent years, due to the need for crude protein content. Dependence on alfalfa hay for animal feed may continue to drive the alfalfa hay market over the forecast period. The major factors influencing the alfalfa hay market in the United States include the increasing demand for quality hay for livestock and cattle population, prices of alfalfa hay, and price trends in alternative feed and forage.
- The increasing demand for dairy and animal products, shrinking of the land for animal grazing, and growth in high-yielding cattle and bred cattle demand for feed are driving the alfalfa hay market. Growing investment in huge-scale dairy operations to meet the demands of commercial dairy operators is expected to aid the market growth during the forecast period.
- However, the decreasing land acreage due to drastically growing urbanization, competition regarding high crop value crops, and water restrictions are some of the critical factors hindering the growth of the alfalfa hay market.
US Alfalfa Industry Segmentation
Alfalfa hay is obtained from the alfalfa plant, also known as Lucerne and Medicago sativa. It is cultivated as an important forage crop in many countries worldwide.
The United States alfalfa hay market is segmented by product type (bales, pellets, and cubes) and application (meat/dairy animal feed, poultry feed, horse feed, and other applications). A detailed study of the market is provided by giving the production analysis, consumption analysis (value and volume), import analysis (value and volume), export analysis (value and volume), and price trend analysis within the country.
The report offers the market size and forecasts in volume (thousand metric ton) and value (USD million) for all the above segments.
| Product type | |
| Bales | |
| Pellets | |
| Cubes |
| Application | |
| Meat/Dairy Animal Feed | |
| Poultry Feed | |
| Horse feed | |
| Other Applications |
United States Alfalfa Market Size Summary
The United States alfalfa hay market is poised for significant growth, driven by its critical role in poultry and animal feed due to its high crude protein content. The increasing demand for quality hay to support the expanding livestock and cattle population, coupled with the rising need for dairy and animal products, is propelling the market forward. However, challenges such as urbanization, competition from high-value crops, and water restrictions are posing hurdles to market expansion. The market's growth is further supported by investments in large-scale dairy operations, which aim to meet the demands of commercial dairy operators.
The US alfalfa hay market is also a key player in the global export arena, with major destinations including China, Japan, Saudi Arabia, and the United Arab Emirates. The market's fragmented nature sees significant production in states like California, Idaho, Montana, and Minnesota, while consumption is concentrated in the aforementioned countries. The export segment is expected to thrive due to the nutritional value of alfalfa hay, with strategic activities by key players such as Al Dahra ACX Global Inc. and Anderson Hay & Grain Inc. enhancing market dynamics. These companies are engaging in product innovations and expansions to cater to both domestic and international demands, ensuring the continued relevance of alfalfa hay in the global market.
United States Alfalfa Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.3 Market Restraints
-
1.4 Porter's Five Forces Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Product type
-
2.1.1 Bales
-
2.1.2 Pellets
-
2.1.3 Cubes
-
-
2.2 Application
-
2.2.1 Meat/Dairy Animal Feed
-
2.2.2 Poultry Feed
-
2.2.3 Horse feed
-
2.2.4 Other Applications
-
-
United States Alfalfa Market Size FAQs
What is the current United States Alfalfa Market size?
The United States Alfalfa Market is projected to register a CAGR of 8.70% during the forecast period (2024-2029)
Who are the key players in United States Alfalfa Market?
Al Dahra ACX Global Inc., Alfalfa Monegros SL, Anderson Hay & Grain Inc., Border Valley trading and Bailey Farms are the major companies operating in the United States Alfalfa Market.
