By product types alfalfa hay market is segmented into bales, pellets, and cubes. Bales are the most common product type with many specifications like two string bales, three string bales upto six string bales weighing up to half tons, square bales weighing 25 to 35 kg and round bales with a diameter of 1.4 to 1.8 meters weighing 500 to 100 kg. Owing to its availability in many sizes and weights and easy transportability, bales are more popular than pellets and cubes. Finely chopped and fermented alfalfa called haylage is also used for dairy cattle because it retains more nutrient levels and is palatable for cattle.
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Alfalfa hay market is segmented per applications into three main categories including meat/dairy animal feed, horse feed and poultry feed. Global demand for processed meat is projected to grow by more than 5% CAGR from 2016 to 2024. Dairy products demand is also increasing, mostly in the developing and least developed countries as a cost-effective protein source and this will contribute to the growth of alfalfa hay market significantly.
North America has the most land under cultivation for alfalfa hay, followed by Europe, Latin America and Asia Pacific. In Europe, Spain alfalfa hay market exported more than 200 kilo tons in 2015 and has a significant share followed by France and Italy. Trade value in North America is higher than Spain because of superior crop quality. Asia Pacific alfalfa hay industry is lagging because of unfavorable government policies prioritizing food and cash crops, high grain prices and lack of large commercial farms. Major importers of the product in 2015 were Saudi Arabia followed by Japan. Middle East and Africa region will also show significant growth during the forecast years due to increasing demand for dairy products.
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At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the alfalfa hay market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
- Definition and scope of research
- Market dynamics, growth drivers and industry pitfalls
- Regulatory and political guidelines for the industry
- Demographics and statistical data
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Major companies in alfalfa hay market are Coaba, Alfalfa Monegros, Los Venteros, SL Follen Company, Grupo Osés, Al Dahra ACX Global, Border Valley, Hay USA, Almarai Company, Knight Ag Sourcing, Anderson Hay & Grain Inc., Haykingdom Inc., Bailey Farms, Green Prairie International, Cubeit Hay Company, M&C Hay, Standlee Hay Company, Riverina (Australia) Pty, Glenvar Hay, McCracken Hay Company. Saudi Arabia based Almarai Co. bought farmland in California and Arizona because they were unable to farm the product in their own country due to unavailability of water. This has rekindled debate about the friendly water laws prevalent in U.S and how it gives advantage to thirsty, low profit crops.
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