Increasing demand for dairy and meat products propels the Alfalfa Hay Market
Market overview:
The Global Alfalfa Hay Market was worth 799.99 million US dollars in 2021, and it is predicted that it will reach much further at a CAGR of 4.9% during the forecast period of 2021 to 2026. Alfalfa hay is an important feed for cattle, horses, dairy cows, goats and sheep for improving their growth.

Market Drivers and Restrains:
Increasing demand for dairy products, shrinking of land for grazing of animals, growth in high yielding cattle, bred cattle demand for feed, and the increasing number of cows raised by modern dairy farmers propels the growth of the market of Alfalfa Hays. Rising Initiatives taken by the government and increase in investments by the companies for the new technological advancements are a few driving aspects of the global Alfalfa Hays market.

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Report is segmented as:
The global Alfalfa Hay market is segmented by type and application. By type, the Alfalfa Hay market is segmented into bales, pellets and cubes. By application, the market is segmented into meat animal feed and dairy animal feed, horse feed, poultry and other types.

Geographical Segmentation:
North America holds the major share of the global Alfalfa Hays market owing to the increase in exports of alfalfa hay from United States to Canada. This region is also expected to hold the dominance of the market during the outlook period. Asia Pacific region recorded the second largest share of the Alfalfa Hay market due to the increase in investments by the companies for the new technologies.

Impact of COVID-19 on Alfalfa Hays Market
Due to coronavirus pandemic, all the end-user verticals are facing financial crisis due to the temporary shutdown of their businesses as a part of the lockdown conditions implemented by provincial governments. Furthermore, the companies related to Alfalfa Hays are facing financial crisis due to the pandemic. As per the analysis, the Alfalfa Hays market is expected to bounce back in the next two to three years.

Key market players:
Major players of Alfalfa Hays market are KNIGHT AG SOURCING, HAY USA, GREEN PRAIRIE INTERNATIONAL, CUBEIT HAY COMPANY, AL DAHRA ACX GLOBAL, INC., ANDERSON HAY & GRAIN INC., BAILEY FARMS, HAYKINGDOM INC., STANDLEE HAY COMPANY, M&C HAY, GLENVAR HAY, MCCRACKEN HAY COMPANY, SL FOLLEN COMPANY, BORDER VALLEY, RIVERINA (AUSTRALIA) PTY LTD, and GRUPPO CARLI.

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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