Alfalfa Seed Market - Segmented by Geography - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The global alfalfa seed market was valued at USD 750.1 million in 2019, and it is expected to register a CAGR of 6.5% during the forecast period (2020-2025). In 2019, North America was the largest geographical segment of the market studied, and it accounted for a share of around 37.6% of the global market.

Using hybrid alfalfa seeds, high quality of fodder for animals can be produced, thereby 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. Thus, 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 is by using hybrid seeds.

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. Moreover, 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.

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Key Market Trends

Growing Industrial Livestock Production and Rising Demand for Meat and Dairy Products

Owing to the increasing awareness regarding protein and healthy food and the 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 it is also competing for water, land, energy, and labor, which is challenging. Alfalfa seeds can be one of the solutions to overcome the aforementioned challenges and for better production of livestock. Alfalfa has higher protein levels, minerals, and vitamins, and 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. This boosts the demand for alfalfa seeds across the world.

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