The Europe alfalfa hay market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 3.2% during 2023–2031. The growth of the market is attributed to its nutritional benefits and increasing usage in animal feed.
Alfalfa is hay made from alfalfa, a perennial legume. It is an excellent source of high quality protein and dietary fiber. Hay clover has a high nutritional value among all pasture perennials. They contain high levels of crude protein, calcium, and more digestible energy. It tastes better than hay and is used to feed horses, sheep, cattle, dairy cows, turkeys, chickens, and other farm animals and livestock.
Alfalfa is a perennial flowering plant grown as an important forage crop in many parts of the world, used for grazing, forage and silage, as well as green manure and cover crops. The name lucerne is most commonly used in the UK, South Africa, Australia, and New Zealand. Alfalfa grows in warmer, temperate regions. It has been cultivated as food since the ancient Greeks and Romans. Alfalfa sprouts are a common ingredient in South Indian cuisine. The significant growth in agriculture and the dairy sector in recent years have positively influenced the growth of the alfalfa pellets market. In addition, milk and meat producers also benefited from the inclusion of alfalfa seeds in their feed as it improved milk and meat quality and thus increased profits.
Europe Alfalfa Hay Market Trends, Drivers, Restraints, and Opportunities
Growing demand for high yield cattle feed and shrinking of land for grazing cattle is expected to boost the market during the forecast period.
Rapid growth of dairy industry owing to growing investment in huge scale for commercial dairy operation is major factors fueling the market in the coming years.
Increasing demand for dairy and meat products is anticipated to drive the market during the forecast period.
High price of alfalfa hay and growing urbanization is anticipated to hinder the market growth.
Lack of awareness about the alfalfa hay among the dairy producers and presence of competition in market act as major challenges that can restrict the market growth during the forecast period.
R&D investment and development in high quality cattle feed with low price is expected to offer significant opportunities for the market players.
Scope of Europe Alfalfa Hay Market Report
The report on the Europe alfalfa Hay market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Alfalfa Hay Market – Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Bales, Pellets, and Cubes), and Applications (Meat & Dairy Animal Feed, Poultry, Horse Feeds, and Others)
United Kingdom, Spain, France, Germany, Russia, Italy, and Rest of Europe
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Grupo Oses; Al Dahra Agriculture; Cubeit Hay Company; and Alfalfa Monegros
Europe Alfalfa Hay Market Segment Insights
The pellets segment is projected to hold a major market share
Based on types, the alfalfa hay market is divided into pellets, bales, and cubes. The pellets segment is expected to represent a key share of the market during forecast period due to its rich in fiber, contain nutrients such as calcium, and are easily digestible source of protein. The high fiber content of alfalfa makes it an ideal feed choice due to the animal's fiber requirement.
Alfalfa rose in popularity in the early 17th century and proved to be beneficial when used as a dietary supplement. Alfalfa pellets can be a complete feed supplement to traditional diets. However, it is often recommended to consult with veterinarian before making a dietary change about the optimal diet for animal, regardless of grazing purpose, hobby, whether it be productivity, work, play, or other goals. Target markets for alfalfa products include: cattle, horses, sheep, goats, and feed mills.
The meat & dairy animal feed segment is expected to expand at a significant pace
In terms of applications, the alfalfa hay market is segregated into horse feeds, meat & dairy animal Feed, poultry, and others. The meat & dairy animal feed segment is expected to represent a key share of the market during the forecast period. The European government is focusing on increasing domestic production of alfalfa hay to meet the country's strong demand. The dairy industry is significantly increasing the demand for alfalfa hay. In addition, livestock production is under tremendous pressure to meet the growing demand for valuable animal protein. The growing preference for alfalfa hay is due to changing production methods in the dairy industry.
The Europe alfalfa hay market has been segmented on the basis of
- Meat & Dairy Animal Feed
- Horse Feed
- United Kingdom
- Rest of Europe
- Grupo Oses
- Al Dahra Agriculture
- Cubeit Hay Company
- Alfalfa Monegros
Key players competing in the alfalfa hay market include Grupo Oses; Al Dahra Agriculture; Cubeit Hay Company; and Alfalfa Monegros.
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.