Global Alfalfa Hay Market View:
Global Alfalfa Hay is an animal fodder which can be feed to cows, goats, sheep, and horses which is also called Lucerne. Alfalfa hay is very rich in fiber and protein when compared to regular grass. It belongs to Fabaceae in the pea family. This is also used widely for medicinal purposes. Alfalfa Hay is used widely in dairy farms. Ancient Americans used Alfalfa as feed for their Horses way back in the 16TH century. Alfalfa is a good source of Calcium, Magnesium, and Potassium. Alfalfa Hay can provide Vitamin A, D, E and K. It is very effective than Regular Grass when fed to animals. When compared to Feeding grass, Alfalfa Hay has efficient sources of Energy, protein, and calcium.
The Global Alfalfa Market was valued nearly about USD XX Million in the year 2017 and envisioned to be growing at CAGR XX in coming years. By the year 2025, it is expected to reach USD XX Million.
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Global Alfalfa Hay Market Drivers and Restraints:
Ever growing need for dairy products is the key factor in the rise of Alfalfa Hay Market. Livestock has been the major factor of growth in the Global market. In the developed Countries Consumption of meat, and milk and dairy products has a growth rate of about XX and XX respectively. The higher expected rate of demand in Asian and Middle East Countries drives the exporters to dairy buyers and major consumers of Alfalfa Hay. A significant rise in the demand for Alfalfa caused the fluctuations in the prices. The decrease in the prices of dairy and milk products has slowed down the market in developed Countries. As per the statistics of NCBI (National Center for Biotechnology Information), the rate of consumption of milk products is expected to rise by XX by the year 2025
Global Alfalfa Hay Market Geographic Segmentation:
Based on geography, Europe region is accounted for the major portion of the global alfalfa hay market. North America region is also estimated to claim a significant share of the market in forecasted years. Also, Asia Pacific and Middle East and Africa regions are predicted to deliver better statistics during the period. Especially, Asia Pacific region is forecasted to have highest CAGR in coming years.
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Key Players in the Global Alfalfa Hay Market:
Some of the key players dominating in market are Coaba, Los Venteros S.C., STANDLEE HAY COMPANY, , Cubeit Hay Company, Alfalfa Monegros, S.L., Grupo Osés, SL Follen Company, Haykingdom Inc, Border Valley, ,Hay USA, and Green Prairie International.
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