“Global Alfalfa Seeds Market to reach a market value of USD 804.2 Million by 2031 growing at a CAGR of 6.9%”
The Global Alfalfa Seeds Market size is expected to reach $804.2 million by 2031, rising at a market growth of 6.9% CAGR during the forecast period. In the year 2023, the market attained a volume of 25,455.08 Tonnes, experiencing a growth of 15.9% (2020-2023).
Europe’s temperate climate and diverse geographical regions provide favorable growing conditions for alfalfa cultivation. Alfalfa thrives in regions with moderate temperatures, well-drained soils, and sufficient moisture, making it well-suited for production across various states and provinces in the Europe. Thus, the Europe region acquired $187.15 million revenue in 2023. In terms of volume, the Europe region would utilize 16,958.50 Tonnes of alfalfa seeds by 2031. The demand for alfalfa seeds increases as farmers seek to grow alfalfa to meet the feed requirements of their livestock.
Hybrid alfalfa seeds are developed through controlled crossbreeding of genetically distinct parent plants, resulting in offspring with superior traits such as higher yield potential, improved vigor, and uniformity. Farmers are attracted to hybrid varieties for their enhanced productivity, which translates into increased forage production per unit area, higher yields per cutting, and improved economic returns. Hence, the increasing adoption of hybrid seeds drives the market’s growth.
Additionally, Alfalfa is a leguminous crop capable of forming symbiotic relationships with nitrogen-fixing bacteria called rhizobia. Through this symbiosis, alfalfa plants can convert atmospheric nitrogen into a form available for plant uptake, enriching the soil with nitrogen. The biological nitrogen fixation process reduces the need for synthetic nitrogen fertilizers, mitigates nitrogen runoff and leaching, and promotes soil fertility and nutrient cycling. In conclusion, growing awareness of soil health benefits is promoting market growth.
However, Alfalfa cultivation typically requires thorough land preparation to ensure optimal soil conditions for seed germination, establishment, and growth. This may involve land clearing, soil testing, soil amendments, and tillage operations for proper seedbed preparation. The costs associated with land preparation can vary depending on factors such as land size, soil quality, and existing vegetation, contributing to the initial investment burden. Thus, high initial investment is hampering the growth of the market.
Based on application, the market is segmented into agriculture, health food, and others. In 2023, the agriculture segment attained 50.1% revenue share in the market. In terms of volume, the agriculture segment would utilize 23,433.30 Tonnes of alfalfa seeds by 2031. Alfalfa is primarily grown for forage production and is a valuable source of high-quality livestock feed, particularly for dairy cows, beef cattle, and horses. Agriculture, especially livestock farming operations, relies heavily on alfalfa as a nutritious and palatable feed source to support animal health, growth, and productivity.
On the basis of type, the market is segmented into dormant seed and non-dormant seed. In 2023, the dormant seed segment acquired a 45.9% revenue share in the market. Dormant seeds have a longer shelf life. In terms of volume, the dormant seed segment would utilize 22,032.53 Tonnes of alfalfa seeds by 2031. This means they can be stored for longer periods without losing their ability to germinate. Farmers often prefer dormant seeds because they can be confident that a high percentage of the seeds, they plant will successfully grow into alfalfa plants.
Free Valuable Insights: Global Alfalfa Seeds Market size to reach USD 804.2 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The Asia Pacific region attained a 21.3% revenue share in the market in 2023. In terms of volume, the Asia Pacific region would utilize 11,344.96 Tonnes of alfalfa seeds by 2031. The Asia-Pacific region is experiencing significant growth in livestock production, driven by increasing populations, rising incomes, and changing dietary preferences. As demand for animal products such as dairy, meat, and eggs continues to grow, there is a corresponding need for high-quality forage to support livestock feeding programs.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 477.4 Million |
| Market size forecast in 2031 | USD 804.2 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.9% from 2024 to 2031 |
| Quantitative Data | Volume in Tonnes, Revenue in USD million, and CAGR from 2020 to 2031 |
| Number of Pages | 234 |
| Number of Tables | 490 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, Region |
| Country scope |
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| Companies Included | Allied Seed, LLC, Bayer AG, S&W Seed Company, Royal Barenbrug Group, Nutrien Ltd. (Dyna-Gro Seed), Great Basin Seed, DLF Seeds A/S, Forage Genetics International, LLC, The Dow Chemical Company, Syngenta Crop Protection AG |
By Type (Volume, Tonnes, USD Million, 2020-31)
By Application (Volume, Tonnes, USD Million, 2020-31)
By Geography (Volume, Tonnes, USD Million, 2020-31)
This Market size is expected to reach $804.2 million by 2031.
Increasing Adoption of Hybrid Seeds are driving the Market in coming years, however, High Initial Investment restraints the growth of the Market.
Allied Seed, LLC, Bayer AG, S&W Seed Company, Royal Barenbrug Group, Nutrien Ltd. (Dyna-Gro Seed), Great Basin Seed, DLF Seeds A/S, Forage Genetics International, LLC, The Dow Chemical Company, Syngenta Crop Protection AG
In the year 2023, the market attained a volume of 25,455.08 Tonnes, experiencing a growth of 15.9% (2020-2023).
The Non-Dormant Seed segment is leading the Market by Type in 2023 thereby, achieving a market value of $423.1 Million by 2031.
The Europe region dominated the Market by Region in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $308 Million by 2031.
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