Global Alfalfa Seed Market 2019-2024: —
The global alfalfa seed market was valued at USD 750.1 million in 2018, and it is expected to register a CAGR of 6.5% during the forecast period (2019-2024). In 2018, North America was the largest geographical segment of the market studied, and accounted for a share of around 37.6% of the global market.
Using hybrid alfalfa seed’s, high quality of fodder for animals can be produced, hence providing a better yield in less land, as compared to the non-hybrid seeds production within the same land. The growth in livestock production is likely to create a demand for better forage crops, as there is a high demand for better-quality meat. Farmers are preferring hybrid seeds in order to increase crop production. Generally, the land allocated for forage crops is less, as compared to other crops, and hence the use of hybrid seeds is increasing rapidly in order to overcome challenges, like diminishing cropland and less yield. As the resources and land available for animal food production are less, the best way is to grow fodder using hybrid seeds.
This study presents the Alfalfa Seed production, revenue, market share and growth rate for each key company, and also covers the breakdown data by regions, type and applications.
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Scope of the Report
Owing to its high versatility, alfalfa has been used as hay, silage, grazing, green-chop, or rotation crop. The forage seed industry, including that for alfalfa seeds for sowing, is flourishing in developed regions, where the availability of quality forage seeds is high and farmers are willing to pay for the high prices of seeds. The growing demand for forage crops can only be supported with better-quality forage seeds. However, in developing regions, the production for forage crops is negligible.
Key Market Trends
Growing Industrial Livestock Production and Rising Demand for Meat and Dairy Products
Owing to increasing awareness regarding protein and healthy food and inclination of consumers toward the inclusion of healthy food in their diets, the demand for dairy products and healthy meat is increasing, which is resulting in the demand for forage crops. Livestock production accounts for one-third of the global cropland, and is also competing for water, land, energy, and labor, which is challenging. Alfalfa seeds can be one of the solutions in order to overcome the aforementioned challenges and for better production of livestock. Alfalfa has more protein levels, minerals, and vitamins, as well as it has a low starch, as compared to unsprouted seeds. It gives an additional nutritional level to livestock, which helps in increasing the production and meeting the demand for milk, meat, eggs and other dairy products. Therefore, this boosts the demand for alfalfa seeds across the world.
North America Dominates the Global Market
The United States is the leading country in the global alfalfa seed market, followed by Canada. Saudi Arabia, Mexico, Canada, Argentina, China, Peru, Algeria, and Sudan are the top importers of alfalfa seeds from the United States. California, Idaho, Washington, Nevada, Montana, and Wyoming are the major alfalfa-producing states in the United States. More than 85% of the production of alfalfa seeds occurs in these northwestern states of the United States and relatively lesser are grown in the southwestern states. Canadian alfalfa imports are significant, with large quantities destined for Ontario and Quebec.
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The global alfalfa seed market is fragmented, and no single company has a majority stake in the market. Around 50% of the market is accounted for by various small companies that are involved in the production of alfalfa seeds. DLF International is one of the most active companies in the global alfalfa seed market, as it is highly involved in various acquisitions, product launches, and partnerships, in order to consolidate its position in the market. Other major active companies are Alforex Seeds, DLF International, and S&W Seeds.
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Table of Contents
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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