Alfalfa Seeds Market

Global Alfalfa Seeds Market Size (2024 to 2032)

The global alfalfa seed market was valued at USD 850.78 million in 2023 and is anticipated to reach USD 906.08 million in 2024 from USD 1499.56 million by 2032, growing at a CAGR of 6.5% from 2024 to 2032.

Alfalfa is widely used around the world as a high-protein fodder source for livestock in pastures and hay mixes. Alfalfa is considered the “queen” of forages and is an important component of the processed forage industry. It is widely used as a high-quality feed in the dairy industry. As a result, alfalfa seed production is an important crop in several regions. The high nutritional quality of alfalfa as a feed is one of its most essential properties. Alfalfa is a good source of vitamins and minerals and includes 15-22 percent crude protein. Specifically, alfalfa contains many important vitamins and acids such as Vitamin A, B1, B2, B6, B12, C, D, E, K, U, niacin, pantothenic acid, inositol, biotin, and folic acid. Alfalfa also contains many minerals such as calcium, phosphorus, sodium, potassium, chlorine, magnesium, sulfur, copper, iron, manganese, cobalt, etc. In addition, alfalfa is also consumed directly by humans in the form of alfalfa sprouts. Alfalfa juice is used in some natural food products. Due to its great versatility, alfalfa has been used as hay, silage, pasture, green cutting or rotation crops.

The growth in animal production is likely to generate a demand for better forage crops, as there is a strong demand for better-quality meat. Alfalfa is widely used in multi-animal feeding programs in the United States due to better prospects for yield and quality. Using hybrid alfalfa seeds, high-quality forage can be generated for the animals, resulting in a higher yield on less area than when non-hybrid seeds are grown on the same acreage. In the forage seed market, the demand for alfalfa seeds is growing and farmers are ready to pay high amounts for seeds,

MARKET DRIVERS

Demand for Alfalfa Seeds Rises Due to the growing awareness of protein and healthy foods and the trend of consumers to include healthy foods in their diets, the demand for healthy dairy products and meats is increasing, which is resulting in a demand for forage crops such as alfalfa seeds are widely used in feeding programs for various types of livestock due to better prospects for yield and quality.

MARKET RESTRAINTS

In developing countries like India, China, Brazil, Indonesia, etc., the production of fodder crops is negligible. Lack of sufficient knowledge in developing countries is hampering the growth of the global alfalfa seed market. Consuming alfalfa seed products can cause reactions similar to the autoimmune disease called lupus erythematosus. Alfalfa can also make some people's skin more sensitive to the sun. The use of alfalfa in cattle grazing has been limited due to its tendency to cause swelling in pastures. The risk of bloat in cattle is highest when alfalfa is in the vegetative stage or at the start of flowering.

Impact of COVID-19 on the Alfalfa Seeds Market

The COVID-19 pandemic has affected the production, distribution, and cost of alfalfa seeds, which play a fundamental role in the development of resilient value chains. Availability and cost of transport due to the reduction in the number of commercial flights. Labor shortages for production and transportation and the shrinking market for plants and seeds had also created problems in the production of alfalfa seeds for international trade. But production is expected to remain stable, following a reduction in government restrictions such as travel restrictions and trade bans. Businesses started to pick up after taking all necessary preventive measures, such as regular temperature checks, the use of personal protective equipment, and limited staff.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Alfalfa Seeds Market By Type

The non-dormant seed is expected to have high demand as they tend to yield more because non-dormant seed types start growing earlier in the spring and start regrowing faster after harvest.

Global Alfalfa Seeds Market By Variety

The hybrid seed segment is growing at a high pace as using hybrid alfalfa seeds can help produce high-quality fodder for animals, thereby providing a better yield in less land, as compared to the open-pollinated seeds production within the same land. In order to boost agricultural yield, farmers prefer hybrid seeds. Because forage crops have less space devoted to them than other crops, the usage of hybrid seeds is fast expanding to meet difficulties such as limited cropland and lower yield.

REGIONAL ANALYSIS

The largest regional area of the alfalfa seed market is North America, which accounts for 37.6% of the overall global alfalfa seed market. North America Dominates the Global Market Over 85% of alfalfa seed production is produced in North America, followed by Asia-Pacific and Europe. North America produces over 100 million pounds of alfalfa seeds each year.

Europe is next in leading the shares of the market. The growing prevalence of quality food products is leveling up the demand of the market in this region.

Asia Pacific is to hit the highest CAGR in the coming period.

The Latin American market for alfalfa seeds is growing at a very high rate.

The Middle East and Africa are huge markets for alfalfa seeds as demand for meat and meat products increases, and alfalfa is used as fodder for animals in the region.

KEY MARKET PLAYERS

Alforex Seeds LLC, DLF International Seeds, La Crosse Seed, S&W Seed Company, Bayer CropScience. These are the markets that dominate the global alfalfa seed market.

The alfalfa seed market is highly fragmented, with no single company holding a dominant stake. Several small enterprises dedicated to the manufacturing of alfalfa seeds account for around half of the market.

RECENT DEVELOPMENTS IN THE GLOBAL MARKET

• In 2016, Maison Florimond Desprez a France-based plant breeding and commercial alfalfa seed business was acquired by DLF Seeds.
• In 2019, S&W Seed Company and Corteva Agriscience announced that they have entered into a new mutually beneficial alfalfa agreement to receive an exclusive, fully prepaid license to produce and distribute certain varieties owned by S&W.
• In 2020, Calyxt, Inc. announced that it had entered into commercial terms with S&W Seed Company for the exclusive license of quality-improved alfalfa seed in the United States and other selected geographies. This is the company's first commercial trait licensing arrangement, and sales predictions in the United States suggest that the trait may produce more than $ 10 million in licensing revenue over the patent’s lifetime.

DETAILED SEGMENTATION OF THE GLOBAL ALFALFA SEEDS MARKET INCLUDED IN THIS REPORT

This research report on the global alfalfa seeds market is segmented and sub-segmented based on Type, Variety, and Region.

By Type

• Dormant Seed
• Non-Dormant Seed

By Variety

• Open-Pollinated
• Hybrid Seeds

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America