18 January 2020
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Alfalfa Hay is an animal fodder which can be fed to cows, goats, sheep, and horses and is also called Lucerne. Alfalfa hay is very rich in fiber and protein when compared to regular grass. It belongs to Fabaceae in the pea family. This is also used widely for medicinal purposes. Alfalfa Hay is used widely in dairy farms. Ancient Americans used Alfalfa as feed for their Horses way back in the 16th century. Alfalfa is a good source of Calcium, Magnesium, and Potassium. Alfalfa Hay can also provide Vitamin A, D, E and K. It is more effective than regular grass when fed to animals. When compared to feeding grass, Alfalfa Hay is a better source of energy, protein, and calcium.
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Drivers and Restraints:
Ever growing need for dairy products is the key factor driving the growth of the Alfalfa Hay Market. Alfalfa Hay has better results when compared to all the substitutes of feeding grass, thus contributing for the major demand for Alfalfa Hay in global market. Livestock has also been the major factor contributing to market growth. In the developed countries, the consumption of meat, and milk and dairy products has a growth rate of about 5.5% and 3.8% respectively. The higher expected rate of demand in Asian and Middle East Countries drives the exporters to dairy buyers and major consumers of Alfalfa Hay. A significant rise in the demand for Alfalfa has led to fluctuations in prices. The decrease in the prices of dairy and milk products has slowed down the market in developed countries. Further, the rate of consumption of milk products is expected to rise by 2.8% by the Year 2030.
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Geographically Alfalfa Market segmented into U.S and Canada. Due to availability of fertile land North America became the leading producer of Alfalfa Hay.
Some of the key players dominating in market are Coaba, Los Venteros S.C., STANDLEE HAY COMPANY, Cubeit Hay Company, Alfalfa Monegros, S.L., Grupo Osés, SL Follen Company, Haykingdom Inc, Border Valley, Hay USA, Green Prairie International,
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