According to the recent research report titled ‘Global Alfalfa Hay Market by Type (Bales, Pellets, and Cubes), Application (Ruminant Feed, Poultry Feed, Horse Feed, and Other Applications), Regional Forecasts 2021-2027’, available with MarketStudyReport, global alfalfa hay market is projected to record 6.9% CAGR over 2021-2027.
 

Increased consumption of dairy and meat products, along with growing industrial livestock production are fueling global alfalfa hay market development.
 

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According to the World Health Organization (WHO), booming population and urbanization are driving cattle demand. This can be ascribed to increasing consumption of meat, milk, and eggs worldwide.
 

As per the ‘Our World in Data’, more than 320 million tons of beef is produced worldwide each year. Furthermore, over 80 billion animals are slaughtered each year for producing meat. The most extensively consumed meat on the earth is pig meat, followed by chicken, beef, and buffalo meat.
 

For the unversed, alfalfa is derived from the alfalfa plant, which is a member of the pea family. Lucerne and Medicago sativa are two other names for the same plant. Alfalfa, which is abundant in protein, calcium, minerals, and fiber, is grown as a feed crop in many nations. It is an important source of nutrition for dairy cows, beef cattle, horses, sheep, and other farm animals.
 

Geographically, North America presently accounts for sizeable market share, owing to advanced technology for producing high-quality and better yields of alfalfa hay, along with presence of a significant number of market players in the region.
 

Furthermore, the United States is a significant exporter of alfalfa to other countries like Saudi Arabia where alfalfa production has been declining for years. Moreover, the country has to meet the escalating demand for alfalfa hay in the dairy sector, for which it mostly relies on imports, and it is likely to remain one of the top buyers from the U.S. market.
 

Top companies profiled in global alfalfa hay market report are Anderson Hay & Grain Co. Inc., Grupo CS, Bailey Farms Inc., Glenvar Hay, Border Valley Trading Ltd., Haykingdom Inc., Cubeit Hay Company, Alfalfa Monegros S.L., Green Prairie International (GPI), and Al Dahra ACX Global Inc.