Dublin, Nov. 10, 2020 (GLOBE NEWSWIRE) -- The "North America Alfalfa Hay Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
North America Alfalfa Hay Market is projected to grow at a CAGR of 6.4% during the forecast period (2020-2025).
Livestock is a major factor responsible for the growth of the global alfalfa hay market. There has been an immense pressure on the livestock sector to meet the increasing demand for high-value animal protein. Alfalfa hay has become a viable option to feed livestock in the region. By Application, Meat/Dairy animal feed is the largest growing segment in the market as dairy producers are known to be the major buyers of the alfalfa hay
Key Market Trends
Increasing Animal Production is Driving the Market
The increasing demand for animal-based products is driving the market for alfalfa in the region. For instance, In Canada, the commercial chicken and turkey meat production totaled 1.43 billion kilograms in 2018. The demand for poultry and egg products is growing. Over the last five years, food availability increased annually on average by 2.3% for chicken, 1.4% for turkey, and 2.5% for eggs.
Alfalfa has become a viable option for poultry feed as the alfalfa pellet segment has its major application in poultry feed for its ease to consume and distracts the birds, consequently, stimulates scratching behavior. The protein, mineral, and vitamin content in alfalfa promotes reproductive ability and improves meat and egg quality. The yellow color of egg yolk and pink color of poultry meat are attained by vitamin E provided by alfalfa feed.
United States Dominates the Market
The United States is one of the major countries in North America for alfalfa market owing to the favorable dry conditions, modern infrastructure and advanced transportation systems are the major factors, which are driving the production, exports, and market growth of alfalfa hay in the country.
Some of the major alfalfa hay producing states in the United States is California with 5,175 thousand metric tons, Idaho with 4,400 thousand metric ton, Montana with 3,150 thousand metric tons), and Minnesota with 2,610 thousand metric ton in 2017. These accounted for around 27% of the alfalfa production in the country. China, Japan, Saudi Arabia, and the United Arab Emirates are the major export destinations to the United States
The alfalfa hay market is highly fragmented with the presence of many local players who are operating in this region. Some of the notable players includes Al Dahra ACX Global Inc, Anderson Hay & Grain Inc, Bailey Farms and Hay USA.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.2.1 Meat/Dairy Animal Feed
5.2.2 Poultry Feed
5.2.3 Horse Feed
5.2.4 Other Applications
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Al Dahra ACX Global Inc.
6.3.2 Anderson Hay & Grain Inc.
6.3.3 Bailey Farms
6.3.4 Border Valley
6.3.5 Cubeit Hay Company
6.3.6 Green Prairie International
6.3.7 Hay USA
6.3.8 Haykingdom Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/3ckumo
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