ALFALFA SEEDS MARKET ANALYSIS

Alfalfa Seeds MarketSize and Trends

The global alfalfa seeds market was valued at US$ 799.7 Mn in 2022 and is expected to exhibit a CAGR of 7.1% over the forecast period (2023-2030) to reach US$ 1,389.5 Mn by 2030. Various factors, such as increased population, rising income levels, and demand for quality agricultural seed, are expected to the drive market growth. Rise in livestock production is expected to increase the demand for alfalfa seeds. In addition, the growth in the livestock population will increase the demand for better forage crops. Moreover, the increased demand for dairy products is expected to create lucrative growth opportunities for the market in the near future.

Global Alfalfa Seeds Market: Market Segmentation

• The global alfalfa seeds market is segmented into application and region Under the application  agriculture has dominated with a market share of 90% followed by food and others. Dormant alfalfa seeds are mainly used in agriculture. They can be combined with other seeds to improve their germination and survival rates. They are often used as soil amendments to provide nutrients, such as nitrogen, phosphorous, potassium, and sulfur, to improve soil structure.
• They can be used as flavor enhancers in baked goods as well as in some beverages like beer. They can also be used as flour for baking breads, pastries, crackers, and pasta products, and they can even be used to create ice cream flavors like root beer float. When consumed with meals that are high in satiety and low in glycemic load, it helps to reduce the risk of rapid break-down of carbohydrates. Alfalfa is rich in dietary fibers, which helps regulate bowel movements and lowers cholesterol levels, thus improving constipation.

Global Alfalfa Seeds Market: Trends

• Growing popularity of hay: The growing popularity of hay is expected to contribute to the market growth of alfalfa seeds. Hay is affordable and highly preferred by farmers from all income groups. Expanding dairy and meat industries worldwide are driving the demand for alfalfa hay, hence fueling the growth of the alfalfa seeds market.
• Increasing disposable income of consumers: The changing lifestyle of consumers and their increasing disposable incomes are expected to boost the market growth over the forecast period. The increasing use of alfalfa in cattle feed is a growing trend that encourages key players to offer new products and adopt business strategies in the global alfalfa seeds market.