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Alfalfa, also known as lucerne or Medicagosativa, is a plant majorly grown as a feed for livestock. Alfalfa pellets are the dried form of alfalfa hay. These pellets are easier to consume by the ruminants along with its ease of storage. According to research by the National Centre of Biotechnology Information (NCBI) alfalfa pellets have better functionality than the other animal, feeds due to its buffering components such as calcium and protein. Moreover, the better growth performance of cattle due to the consumption of alfalfa pellets has boosted its market growth.
The significant growth in the agriculture and dairy sector in recent years has positively aided in the growth of the alfalfa pellets market. Additionally, the dairy and meat product manufacturers are also benefitted by incorporating alfalfa pellet in cattle feed as it helps to improve the quality of the milk and meat thus, increases the profitability. The increased reliability of cattle rearers on such dried animal feed has also fuelled the market growth.
The increase in demand for dairy and meat products drives the demand for alfalfa pellets. Also, being a rich source of proteins and fibres, alfalfa pellets helps to improve the yield in cattle. Further, the shrinkage of open grazing land for the cattle has led the farmers to shift towards dry animal feed; thereby contributing to the market growth.
Climate change influences the sowing and harvesting of alfalfa. The inconsistent climatic conditions such as more erratic rainfall, extreme storms, changing winter temperature and humidity patterns in North America affect the cultivation of alfalfa, which pose as a major restraining factor for the market.
Key Market Driver -
Increasing Demand for High Quality Animal Feed
Key Market Restraint -
Inconsistent Climatic ConditionsInfluence the Feed Cultivation
The key companies operating in the global alfalfa pellets market are, Anderson Hay & Grain Co., Inc., Al Dahra ACX, Inc., GrupoOses, Gruppo Carli, Beijing Lvtianyuan Ecological Farm, Harlan Feed, Sunshade Animal Feeds Pvt. Ltd., Manzanola Feeds, Sacate Pellet Mills, Inc, and Standlee Premium Products, LLC.
The alfalfa pellets market is segmented by product, type, application, and geography. The timothy hay type segment is accounted to hold a major share in the market as it offers better nutritional properties in growing livestock animals. The timothy hay pellet feed is a combination of alfalfa forage and timothy grass, which offers a better quality of dry feed. This has led to increased demand among animal ranchers.
The meat/dairy animal feed application segment is holding the major share in the market as there has been a significant rise in demand for processed meat and dairy products as a source of protein.
North America is witnessing significant growth in the alfalfa pellet market as it is one of the highest alfalfa producing regions. California and Arizona are the key alfalfa producers in the U.S. The abundant availability of raw material for producing alfalfa pellets is a major factor driving the regional market. Further, the growing agriculture sector in the region has supported the market growth.
Europe is expected to observe a significant growth in the upcoming years due to the growth in the dairy sector. The rise in cows being reared by the farmers to suffice the increasing demand has also influenced the rise in the utilization of animal feed. Moreover, the increase in demand for animal protein has boosted its regional sales performance.
The Asia Pacific is anticipated to foresee substantial growth in the forthcoming years as the consumers are shifting towards dried animal feed due to the shrinkage of grazing land resulting from rapid urbanization. Along with this, the farmers are increasing incorporation of dry matter in the livestock to increase milk production. These factors have further fuelled its regional market.
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