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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Alfalfa Pellets Market Size
The global alfalfa pellets market attained a value of USD 446.08 million in 2023. The market is expected to grow at a CAGR of 4.9% between 2024 and 2032, reaching almost USD 681.52 million by 2032.
Key Takeaways
- According to the Food and Agriculture Organisation (FAO), poultry meat is predicted to account for 41% of all protein derived from meat sources globally in 2030.
- Alfalfa pellets with about 17% crude protein provide animals with a nutritional value equivalent to mature alfalfa hay.
- World milk production is projected to grow to 997 Mt by 2029.
Alfalfa pellets are fed to animals as they are a great source of nitrogen, proteins, minerals, and vitamins. It is regarded as a preferred feed option for cattle and poultry owing to its high fibre and nutritional content. Because of its high lysine content and well-balanced amino acid profile, alfalfa pellet is beneficial for pregnant and nursing horses. They enhance the ecological environment, contributing to sustainability. The uniform size and shape of alfalfa pellets allow animal owners to easily measure and mix them with other types of feed. This helps them accurately control portion size and ensures farmed animals receive an appropriate amount of nutrients in their diet.
Some of the factors driving the alfalfa pellets market growth are the growing focus on optimal nutrition of livestock, easy transportation offered by the pellets, growing demand for meat and dairy, and the demand for organic animal feed.
Alfalfa Pellets Market Report Snapshots
Alfalfa Pellets Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the alfalfa pellets market reached an approximate value of USD 446.08 million.
The market is expected to grow at a CAGR of 4.9% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 681.52 million by 2032.
Alfalfa pellets refer to fodder that are made from ground alfalfa hay and are typically used in animal feeds. They contain extensive amounts of proteins, minerals, and vitamins, and are an excellent source of nitrogen. It Is also high in fibre and is considered an ideal feed choice for various livestock and poultry animals.
The major drivers of the alfalfa pellets market include the increasing use of alfalfa pellets as animal feed, the rich nutritional profile of alfalfa pellets, and the robust growth of the livestock population.
Key trends aiding market expansion include the growing use of alfalfa pellets in poultry feed, the rising cultivation of alfalfa hay, the demand for organic feed, and the rising consumption of animal protein.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Based on type, the market can be divided into alfalfa hay and timothy hay.
The significant applications in the market are meat/dairy animal feed, horse feed, poultry feed, and pig feed.
Key players in the market are Al Dahra Group, Navarra Aragonesa De Forrajes, S.A.U. (Nafosa), Gruppo Carli, Harlan Feed, Manzanola Feeds, LLC, Daurio Brothers Alfalfa Company, Sacate Pellet Mills, Inc., AJD Agro Ltd., and others.
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United States (Head Office)
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+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124