Global Alfalfa Seeds Market By Type ( Dormant Seed, Non Dormant Seed ), By Application( Agriculture, Food ), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2033

Global Alfalfa Seeds Market value was USD 691.49 Million in 2023. It is expected to grow at a CAGR of 5.71% to reach USD 879.38 million by 2033. Alfalfa is widely utilized worldwide as a high-protein roughage for livestock, in both pasture and hay mixtures. Alfalfa has been called the “Queen of Forages” and is an important component of the processed forage sector.

Alfalfa Seeds Market Scope:

By Type, the market is segmented into Dormant Seed and Non-Dormant Seed. By Application, the market is divided into Agriculture and Food.

Based on geography market is analyzed across North America, Europe, Asia-Pacific, Latin America and the Middle East, and Africa. Major players profiled in the report include Forage Genetics International, S&W Seed, Alforex Seeds, Arkansas Valley Seed, Pacific Seed Company, Monsanto, Latham Hi-Tech Seed, Kussmaul Seed, Abatti Companies, TA Seeds, and Allied Seed.

Growth factors for the Alfalfa seeds market:

Non-GMO products are in high demand due to rising incidences of gluten intolerance and food allergies around the world. GMO Alfalfa seed will continue to be in demand from livestock producers. It is a more cost-effective and sustainable feedstock than hay or other crops.

Consumer preference for veganism is increasing, which has resulted in increased use of plant-based animal replacements like soy protein. These are mainly derived from soybeans, which are frequently imported into other countries, making them susceptible to price fluctuations. Due to its high yield per hectare and its high protein content, it is possible that there will be an increase in demand. The market growth will be driven by rising demand for meat, poultry, and dairy products.

Key Market Segments:

Type

Dormant Seed
Non-Dormant Seed

Application

Agriculture
Food

Key Market Players included in the report:

Forage Genetics International
S&W Seed
Alforex Seeds
Arkansas Valley Seed
Pacific Seed Company
Monsanto
Latham Hi-Tech Seed
Kussmaul Seed
Abatti Companies
TA Seeds
Allied Seed

Market drivers:

Cattle feed has seen rapid growth due to the fact that milk producers are substituting conventional feed for more nutritionally complex feed. The tangible benefits of nutritional feed yield enhancement are being recognized by animal owners. Asia Pacific is home to one of the most important livestock industries and has the highest livestock population.

Asia Pacific’s livestock production is growing at a faster rate than any other region due to the significant expansion of poultry, pig, and livestock industries. The region’s livestock sector is vital to agricultural development. Nearly 50% of global agricultural output is made up of livestock products. Alfalfa sales will be boosted by the increasing demand for animal products due to population growth and higher living standards.

Industrialization of agriculture has had a profound impact on the methods used to produce food in nearly every region of the globe. Industrialization is taking place in the livestock industry, particularly in emerging countries where meat production is high. Due to the rapid industrialization of agriculture as well as agro-businesses, the last few years have seen an enormous increase in agricultural land. This will undoubtedly increase the growth rate of the alfalfa industry in the coming years.

Market Restraints:

While efficiency and productivity improvements are the main objectives of the industry, factors like animal demand as well as feed supply play a major role in the growth of the alfalfa sector. Because animal feed is the main cost factor in beef production, sheep production, dairy production, poultry production, and goat production, it plays a major role.

Cattle feeding will continue to be a significant part of the livestock sector. Market growth will be impeded by the increased demand for animal products and the difficulties in supplying a wide range of feed commodities.

Key Market Trends:

Increasing Industrial Livestock Production and Rising Consumer Demand for Meat and Dairy Products

The demand for forage crops is rising due to consumers’ increasing awareness about protein and healthy foods and their desire to eat healthy food. One-third of global cropland is devoted to livestock production. This is a challenging task because it is competing for water, energy, labor, and land. The solution to these challenges can be found in Alfalfa seeds. It is also a way to increase the production of livestock. Alfalfa is richer in vitamins, minerals, and protein than unsprouted seeds. It also has lower starch. It provides livestock with an extra nutritional level, which aids in increasing production and meeting the demand for milk, eggs, and other dairy goods. This increases the global demand for alfalfa seeds.

Market Developments:

October 2020: Barenbrug purchased the Jacklin Seed Company, USA. Jacklin Seed is a leader in grass seed processing and production for many years, which has helped to expand the company’s product range.

July 2020: Barenbrug Australia Pty Ltd and Nuseed Pty Ltd have entered into an agreement to license Nuseed’s sunflower germplasm portfolio, as well as carry out R&D and plant breeding. Barenbrug also received licenses for Nuseed’s sunflower sales, distribution, forage sorghum, and grain sorghum. This increased the company’s market presence in Australia.

July 2020: Royal Barenbrug Group opened a new laboratory in Nijmegen for climate-resistant grass solutions. This new laboratory is part of the three Centres of Excellence within the company’s R&D Department for seed enhancement.