ALFALFA SEEDS MARKET ANALYSIS

Market Challenges And Opportunities

Global Alfalfa Seeds Market: Drivers

• Growing industrial livestock production due to the increasing demand for meat products: According to United State Department of Agricutural in Foreign Agricutural Service Delhi forecasts carabeef  (which is derived from the Asian domestic water buffalo) and beef in bovine production to increase in 2022 to approximately 4.5 million metric tons (MMT), an increase of nearly seven percent from the market year (MY) 2021 estimate of 4.2 million metric tons
• Increasing adoption of hybrid seeds: Increasing adoption of hybrid seeds is again projected to augment the market growth. For instance, on January 28, 2021, Bayer, a vegetable seeds business, planned to extend its mini packs across the entire range of its Seminis hybrid seeds and provide smallholder farmers with greater choice in cultivating their own vegetables. Bayer will extend these mini packs to urban markets to cater to kitchen and hobby gardeners and encourage people to grow their own vegetables.

Global Alfalfa Seeds Market: Restraints

• Need for large quantity of water for irrigation: The need for large quantities of water for irrigation is expected to hamper market growth of the alfalfa seed. Moreover, a lower yield than other forage crops is another key factor expected to restrict the market growth.
• Counterbalance: Water use is high in alfalfa since it has a long growing season, a deep root system, and a dense canopy of vegetation. The amount of water needed for alfalfa production is a function of temperature, wind, humidity, and the amount and intensity of light. Overwatering spoils the seeds, so it is necessary to help the plant recover from overwatering, by repotting it and improving the soil type in which it is growing.                       
• Low awareness among farmers across developing countries: Low awareness among farmers across developing countries is also expected to negatively impact market growth over the forecast period. Most countries are not well aware of forage crops and its advantages. They are still following the traditional techniques to feed their livestock.
• Counterbalance: The farmers in developing countries like India are still following the traditional farming practices since the methods have been passed down through generations and have become a part of cultural and spiritual traditions. There are several reasons why the farmers are not using modern techniques, such as lack of access to finance, lack of infrastructure, cultural and traditional practices, climate and soil, and government policies. All these need to be taken into consideration for creating better market growth for alfalfa seeds and promoting sustainable and profitable farming practices.