The new report by Expert Market Research titled, 'Global Alfalfa Pellets Market Report and Forecast 2022-2027', gives an in-depth analysis of the global alfalfa pellets market, assessing the market based on its segments like types, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 5.40%
The market is being aided by the rising use of alfalfa pellets as animal feeds. With improved land utilisation and ecological benefits offered by alfalfa pellets, their demand for sustainable operations is surging, hence driving the market growth. Alfalfa pellets contain an extensive amount of protein, due to which they efficiently reduce the requirement for concentrated feed to boost cost-effectiveness, which is positively impacting the growth of the market. The market growth can also be attributed to the robust growth of the agricultural sector and the surging demand for meat and dairy products. Moreover, the adoption of innovative farming techniques is escalating the utilisation of alfalfa pellets, hence bolstering the industry growth.
Industry Definition and Major Segments
Alfalfa pellets are fodders that are typically made from ground alfalfa hay and are an excellent source of minerals and vitamins. They are extensively used in animal feeds to boost the productivity and quality of animals and their products. They aid to boost the digestibility of animals and offer various health benefits to animals, due to which they are increasingly preferred by farmers.
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Based on type, the market is bifurcated into:
• Timothy Hay
• Alfalfa Hay
The market, based on application, is divided into:
• Meat/Dairy Animal Feed
• Horse Feed
• Poultry Feed
• Pig Feed
The regional markets of alfalfa pellets are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The industry growth is being propelled by the increasing use of alfalfa pellets in poultry feed. The increasing awareness regarding the benefits of alfalfa pellets to efficiently provide yolk and skin pigmentation for poultry products is augmenting the industry growth. With the growing incorporation of alfalfa pellets in the diets of layer birds to reduce feed intake and boost productivity, the market is witnessing robust growth. In addition, the increasing demand for alfalfa pellets to enhance the digestive systems of poultry animals and surge their quality is significantly contributing to the growth of the industry. With the increasing research and development (R&D) activities to determine the benefits of alfalfa pellets in animal feeds, the market is poised to witness substantial growth in the forecast period.
Key Market Players
The major players in the market are Anderson Hay & Grain Co Inc., Al Dahra ACX Global Inc, Navarra Aragonesa De Forrajes, S.A.U. (Nafosa), PARTECIPAZIONI S.p.a. (Gruppo Carli), Harlan Ln, Sunshade Animal Feeds Private Limited, Manzanola Feeds, LLC, and Sacate Pellet Mills, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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