(Food-Beverage-News.Com, October 10, 2019 ) Market Overview: Alfalfa is widely used throughout the world as a source of high protein roughage for livestock in pasture and hay mixes. Alfalfa is regarded as the “Queen” of forages and is a major component of processed forage industry. It is used extensively as a high-quality feed in the dairy industry. As a result, alfalfa seed production is a major crop in various regions.
The Global Alfalfa Seeds market was worth USD XX billion in 2018 and is forecasted to reach USD XX billion by 2026, growing at a CAGR of XX% during the forecast period (2019-2026).
Market Dynamics: One of the most important characteristics of alfalfa is its high nutritional quality as animal feed. Alfalfa contains between 15 to 22% crude protein as well as an excellent source of vitamins and minerals.
Specifically, alfalfa contains vitamins A, D, E, K, U, C, B1, B2, B6, B12, Niacin, Pantothenic acid, Inositol, Biotin, and Folic acid. Alfalfa also contains the following minerals: Phosphorus, Calcium, Potassium, Sodium, Chlorine, Sulfur, Magnesium, Copper, Manganese, Iron, Cobalt, Boron, and Molybdenum and trace elements such as Nickel, Lead, Strontium, and Palladium.
Furthermore, Alfalfa is also directly consumed by humans in the form of alfalfa sprouts. According to the International Sprout Growers, there are approximately USD 250 million worth of sprouts sold in North America. Alfalfa juice is used in some health food products.
Geographical Analysis: By region, the market is segmented into: • North America • South America • Asia-Pacific • Europe • The Middle East and Africa
Among all the regions, North America is the largest alfalfa seed producing region with Canada and the United States together producing over 100 million lbs of alfalfa seed in a year. In the United States, production occurs primarily in California (non-dormant varieties), Idaho, Washington, and Nevada. Other important alfalfa seed growing regions of the world include France, Italy, and Argentina.
Competitive Analysis: Few key market players are: • Allied Seed, LLC. • Ampac Seed Company • Baglietto • Brett-Young Seeds Limited • DLF Seeds A/S • DowDuPont Inc.
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