Alfalfa
Hay Market: Overview
Alfalfa
hay is considered as an important feed for cattle, horses, dairy
cows, goats and sheep. Canada, Spain, the U.S., Italy, and France are
some of the prime countries accounting for alfalfa hey production.
Some of the top companies from these countries are actively partaking
in the entire supply chain network from sourcing, logistics
applications, shipping to distribution and marketing, at the same
time placing vital importance on the quality of alfalfa.
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Alfalfa
Hay Market: Drivers and Restraints
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.
The demand from commercial dairy operators for alfalfa hay is
expected to increase due to the increase in investment in huge scale
dairy operations 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 important factors hindering the growth of alfalfa hay market. The
exceptional demand seen in the previous years from several regions
have resulted in the price upsurge of alfalfa hay. This has caused
the dairy producers to consider the replacement, thus lowering the
rates for alfalfa hay again this year. The increasing 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. The cost of the alfalfa hay is generally dependent upon
the quality of hay produced, the type of harvesting, and the bale
size. The high domestic prices of hay in some regions can cause a
dampening effect on exports for some markets. On the basis of
product type the alfalfa hay market is segmented into bales, pellets,
and cubes. The bale segment is expected to account for maximum share
in alfalfa hay market.
Alfalfa
Hay Market: Segmentation
On
the basis of Applications,
- Meat/dairy animal feed
- Horse feed
- Poultry
- Others
On
the basis of Product Type,
- Bales
- Pellets
- Cubes
Alfalfa
Hay Market: Region Wise Outlook
The
global
Alfalfa Hay Market is segmented into the seven key regions: North
America, Latin America, Western Europe, and Eastern Europe, Asia
Pacific Excluding Japan (APEJ), Japan and Middle East and Africa
(MEA). Western Europe has accounted as the largest market for alfalfa
hay. Spain is the leading country with the maximum market share in
this region followed by France and Italy. Trade value of alfalfa is
higher in North America region as compared to Western Europe.
Unfavorable government policies in countries like China and India for
alfalfa hay, insufficient processing capacity for large-scale
commercial farms, and rising grain prices are expected to act as
restraints on the alfalfa hay market. The alfalfa market in MEA
region is also projected to show significant growth rate during the
forecast period followed by Japan.
Alfalfa
Hay Market: Key Players
- Alfalfa Monegros, S.L.
- Coaba
- Los Venteros S.C.
- Grupo Osés
- SL Follen Company
- Al Dahra ACX Global, Inc.
- Anderson Hay & Grain Inc.
- Border Valley
- Knight Ag Sourcing
- Hay USA
- Bailey Farms
- Haykingdom Inc.
- Standlee Hay Company
- Green Prairie International
- Cubeit Hay Company
- M&C Hay
- Glenvar Hay
- McCracken Hay Company
- Riverina (Australia) Pty
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