Market Trends of Italy Alfalfa Industry
This section covers the major market trends shaping the Italy Alfalfa Market according to our research experts:
Increasing Demand for Quality Feed
- The annual growth of meat and milk production in developing countries is projected to be 2.4% and 2.5%, respectively, till 2030. This is expected to increase the country's meat production by 66% (247 million metric tons) and milk production by 55% (484 million metric tons). Furthermore, there has been immense pressure on the livestock sector to meet the increasing demand for high-value animal protein across the globe.
- According to Eurostat, in the year 2020, the per capita consumption of pig meat reached 32.5 kg per head and has remained relatively unchanged since 2019. The same is true for beef and poultry in Italy, withstanding fluctuations. In 2019, the average monthly household expenditure on beef products totaled USD 34.03. The average monthly expenditure on poultry products totaled USD 20.94.
- The population of cattle has been growing while registering a robust growth rate. The rising demand for dairy products and high-quality animal feed is the major factor driving the market growth of alfalfa hay across the region. The crop is mainly used for feeding dairy cows, cattle, horses, sheep, and goats. The dairy sector is essentially boosting the demand for alfalfa hay in Italy. This demand from other countries is creating export opportunities, augmenting alfalfa hay's production volumes.
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Rising Demand for Dairy And Meat Products
- Livestock is a major factor responsible for the growth of the alfalfa hay market. Annual growth of meat production and milk production in developing countries is increasing. Alfalfa, a good nutrition source, is the main feed for cattle and poultry.
- The Italy alfalfa market is expected to witness significant growth during the coming years owing to the benefits of alfalfa, including high nutrient content and a rich source of protein and energy, which helps improve lactation, reproduction, maintenance, and growth of livestock.
- Consumers of various demographics in Italy consider red meat and poultry products an important source of nutrition/protein. Per capita consumption of these items has expanded fast, resulting in increased production of meat products. According to the European Commission study, 2020, Italians consumed 55 kg of meat per capita per year, with pig, poultry, and cattle meat accounting for 46%, 27%, and 25% of total meat consumption, respectively. Other meat categories account for 2% of total meat consumption.
- According to the AllTech Feed survey, Italy had a total of 417 feed mills. It was estimated to produce 14.5 million metric tons of feed in 2019. Pork feed production accounted for the major share of feed production at 3.731 million metric tons, followed by poultry feed production of 2.940 million metric tons in 2019.
- Hence the increasing production denotes the increasing demand for alfalfa hay in the animal feed industry in the country during the forecast period.
