The European alfalfa market is expected to register a CAGR of 3.2% for the forecast period (2020-2025). In Europe, the major alfalfa producing countries are Spain, France, and Italy. In Western Europe, Spain is the principal exporter for the alfalfa hay followed by France, and Italy, thus contributing significantly to the Europe alfalfa market.
The Use of alfalfa hay has become critical to poultry feed, followed by animal feed in recent years, due to its importance for crude protein content. Owing to its nutritional benefits dependence on alfalfa hay for animal feed may continue to drive the alfalfa hay market, globally, over the forecast period.
Key Market Trends
Increasing Demand for Dairy and Meat Products
Livestock is a major factor responsible for the growth of the alfalfa hay market in Europe. The European government is focusing on boosting the domestic production of alfalfa hay, in order to meet its high demand. The dairy sector is essentially boosting the demand for alfalfa hay in Europe. Furthermore, there has been immense pressure on the livestock sector to meet the increasing demand for high-value animal protein. The demand for alfalfa hay is increasing significantly and is driven due to changing production practices in the dairy industry. This is essentially due to the increasing number of cows raised by modern dairy farmers who prefer quality feeds.
High Nutritional Property of Alfalfa
Alfalfa is one of the most important feed sources for animals worldwide, owing to its nutritional benefits. Alfalfa hay is used, primarily as an animal feed for dairy cows, horses, beef cattle, sheep, chickens, turkeys, and other farm animals. These hays are higher in protein and minerals and are more palatable than grass hays. Alfalfa, in particular, is high in energy and is an excellent source of vitamins and minerals.
It contains between 15 to 22% crude protein as well as an excellent source of a wide range of vitamins and minerals. It has the most feed value of all perennial pasture forages. Due to the high nutritional content of alfalfa, the demand is growing in the market. This rich nutritional content of alfalfa drives the market as the need for the quality feed for animals is increasing. Spain is one of the major producers of alfalfa followed by France.
Companies not only compete on new product launches but also focus on strategic moves such as merger and acquisition, expansion to acquire larger market shares. Spain is the largest producer and exporter of alfalfa in the Europe. Some of the key players in the market are Alfalfa Monegros, S. L., Al Dahra Agriculture, Anderson Hay & Grain Inc.,Cubeit Hay Company and Grupo Osés.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support