North America Alfalfa Hay Market Report – Segmented By Type (Bales, Pellets, Cubes), Application (Meat/Dairy Animal Feed, Poultry Feed, Horse Feed, Other) And By Country (The US, Canada, and Rest of North America) – Industry Analysis From 2024 to 2029

Updated On: June, 2024
ID: 6403
Pages: 145

North America Alfalfa Hay Market Size (2024 to 2029)

The North American alfalfa hay market is expected to reach USD 27.24 billion in 2024 and reach USD 35.63 billion by 2029, growing at a CAGR of 5.52% from 2024 to 2029.

Alfalfa hay is considered 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 than regular hay and are also more palatable than grasshays. 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.

An increase in the demand for dairy and animal products, shrinking of the land for grazing animals, 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 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 for alfalfa in certain developing regions has led to price surges, which in turn has slowed 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 alfalfa prices are anticipated to hinder the growth of the market.

SEGMENT ANALYSIS

North America Alfalfa Hay Market Analysis By Type

  • Pellets
  • Bales
  • Cubes

North America Alfalfa Hay Market Analysis By Application

  • Meat/Dairy Animal Feed
  • Poultry Feed
  • Horse Feed
  • Other

COUNTRY ANALYSIS

  • U.S
  • Canada
  • Rest of North America

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 land.

KEY PLAYERS IN THE NORTH AMERICAN ALFALFA HAY MARKET

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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