Market Size of Alfalfa Hay Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 82.08 Billion |
| Market Size (2029) | USD 113.00 Billion |
| CAGR (2024 - 2029) | 6.60 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Alfalfa Hay Market Analysis
The Alfalfa Hay Market size is estimated at USD 82.08 billion in 2024, and is expected to reach USD 113 billion by 2029, growing at a CAGR of 6.60% during the forecast period (2024-2029).
- Over the short term, the market is anticipated to achieve notable growth due to the increasing demand for quality hay for livestock and the cattle population. The use of alfalfa hay has become critical to animal feed due to its importance for crude protein content. Alfalfa hay enhances the growth and development of animals at a faster rate and improves milk productivity. Thus, dependence on alfalfa hay for animal feed may continue to drive the market over the forecast period.
- The increasing demand for dairy and animal products, shrinking land for grazing animals, growth in high-yielding cattle, and demand for cattle feed are driving the alfalfa hay market globally.
- North America is projected to be the largest market for alfalfa hay. China, Japan, the United Arab Emirates, and Saudi Arabia are significant importers of alfalfa hay from the United States. The United States and Spain are major exporters of alfalfa hay globally. Recently, alfalfa hay became critical to poultry feed, followed by animal feed, due to its importance for crude protein content.
- In 2021, the Indian Ministry of Commerce and Industry announced that India and the United States agreed to a framework to implement market access for agricultural products from both countries. India agreed to remove the heat treatment requirement for the US-origin alfalfa hay and recognize the current US pest mitigation methods for alfalfa hay. The Indian government also clarified that importing US alfalfa hay for animal feed will not require a non-genetically modified certificate.
