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The Saudi Arabia Alfalfa Market analysis covers Production Analysis, Consumption Analysis, Market Value, Price Trend, Import Market Analysis by Value, Import Market Analysis by Volume, Export Market Analysis by Value, and Export Market Analysis by Volume.
The Saudi Arabia Alfalfa Market is estimated to grow at a CAGR of 5.6% in the forecast period of 2019-2024. Saudi Arabia imports are projected to increase at a maximum rate, due to the country’s policy of banning forage crops production in 2019, thereby, leading it to rely solely on imports to satisfy the alfalfa demand. The major factors influencing the alfalfa market include the rising demand for quality hay for livestock, dairy products, cattle population, prices of alfalfa hay, and price trends in alternative feed and forage.
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Livestock is a major factor responsible for the growth of the Saudi Arabian alfalfa market. There was an increase in cattle meat production in Saudi Arabia at the rate of 4% and in whole fresh cow milk production at more than 8%, during 2014-2016. Furthermore, there has been immense pressure on the livestock sector to meet the increasing demand for high-value animal protein. Livestock products remain the desired food for nutritional value and taste across major parts of Saudi Arabia. Dairy product manufacturers in the country are focusing on catering to the increasing demand for alfalfa hay, which was primarily aided by changing consumer preferences due to higher income levels.
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The prices of alfalfa in Saudi Arabia is projected to grow at a significant rate in Saudi Arabia for the forecast period of 2019-2024. Alfalfa prices are highly positively correlated with the consumption in the country followed by imports of alfalfa. However, production and prices are negatively correlated. Hence, the prices are likely to be highly dependent on the consumption and specifically for the fodder demand from the sheep and goats, cattle and camel.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
5. MARKET SEGMENTATION
5.1 Production Analysis
5.2 Consumption Analysis
5.3 Market Value
5.4 Price Trend
5.5 Import Market Analysis by Value
5.6 Import Market Analysis by Volume
5.7 Export Market Analysis by Value
5.8 Export Market Analysis by Volume
6. MARKET OPPORTUNITIES AND FUTURE TRENDS