The Alfalfa Seeds Market is Predict to reach USD 804.2 Million by 2031, at a CAGR of 6.9%

24-May-2024 | Report Format: Electronic (PDF)

Alfalfa Seeds Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, 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).

Digital agriculture tools and smart farming solutions revolutionize alfalfa production by providing data-driven insights, decision support systems, and remote monitoring capabilities. IoT sensors, drones, satellite imagery, and farm management software empower farmers to optimize crop management practices, monitor crop health, and respond to environmental conditions in real-time. Digital platforms facilitate knowledge exchange, collaboration, and market access for stakeholders across the alfalfa seed value chain.

Alfalfa Seeds Market Size - By Region

The Non-Dormant Seed segment is leading the Global Alfalfa Seeds Market by Type in 2023 thereby, achieving a market value of $423.1 Million by 2031. Non-dormant seeds typically germinate faster. This can be advantageous for farmers who want to establish alfalfa crops quickly, especially in regions with short growing seasons or when planting needs to be synchronized with specific agricultural practices. Non-dormant seeds often result in more uniform stands of alfalfa plants compared to dormant seeds.

The Health Food segment is anticipated to grow at a CAGR of 7.3% during (2024 - 2031). Alfalfa seeds are rich in essential nutrients, including vitamins (such as C, K, and various B vitamins), minerals (such as calcium, magnesium, and iron), protein, fiber, and antioxidants. This nutrient-dense profile makes alfalfa seeds a popular choice among health-conscious consumers seeking natural, plant-based sources of nutrition to support overall health and well-being.

Full Report: https://www.kbvresearch.com/alfalfa-seeds-market/

The Europe region dominated the Global Alfalfa Seeds 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. The North America region is experiencing a CAGR of 6.7% during (2024 - 2031). Additionally, The Asia Pacific region would exhibit a CAGR of 7.4% during (2024 - 2031).