The global alfalfa seeds market is expected to approach US$ 1,166.3 million by 2030, with an annual growth rate of more than 6.2%
Wilmington, Delaware, Oct. 23, 2023 (GLOBE NEWSWIRE) — Global Alfalfa Seeds Market value is estimated at US$ 764.9 million in 2023 and is expected to grow at a significant CAGR of over 6.2% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The global alfalfa seeds market is expected to gain significant growth during the forecast period from 2023-2030. The market is primarily driven by increasing demand for alfalfa seeds. Alfalfa is a high-protein forage crop that is used to feed livestock, such as cattle, sheep, and goats. The demand for alfalfa is increasing due to the growing global population and the rising demand for meat and dairy products.
Alfalfa seeds can help to improve the yield and quality of alfalfa crops. They can also help to protect alfalfa crops from pests and diseases. As farmers become more aware of the benefits of alfalfa seeds, the demand for these products is increasing. Moreover, many governments across the globe are providing subsidies and other incentives to farmers to encourage them to use alfalfa seeds. This government support is helping to drive the growth of the global alfalfa seeds market.
- According to a deep-dive market assessment by RationalStat, the global alfalfa seeds market has been analyzed on the basis of market segments, including type, crop type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global alfalfa seeds market covers market sizes on the basis of market value (US$/EUR Million) and volume (Tons/Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global alfalfa seeds market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Alfalfa Seeds Market: Segmental and Market Share Analysis
- On the basis of type, the non-transgenic hybrids segment is dominating the global alfalfa seeds market. Consumers generally prefer non-transgenic foods over transgenic foods. This is because there is some concern about the safety and health effects of transgenic foods. Moreover, there is a wider range of alfalfa seeds available for non-transgenic alfalfa than for transgenic alfalfa. This is because manufacturers are more focused on developing alfalfa seeds for non-transgenic alfalfa, as this is the larger and more important market.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 1,166.3 million |
| Market Size Forecast | US$ 764.9 million |
| Growth Rate | 6.2% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global alfalfa seeds market include,
- In September 2023, DLF, the global market leader in forage and turf seed, announced its acquisition of the Corteva Agriscience alfalfa breeding program.
- This includes Corteva’s global alfalfa germplasm and breeding program, the Alforex Seeds® brand name, and trademarks including Hi-Gest® alfalfa technology, Hi-Ton performance alfalfa, Hi-Salt salinity tolerant alfalfa, and msSuntra® hybrid technology, current commercial alfalfa varieties and select Corteva personnel supporting the alfalfa program.
Some of the prominent players and suppliers operating and contributing significantly to the global alfalfa seeds market growth include Bayer AG, Corteva Agriscience, DLF Seeds A/S, RAGT Semences, Royal Barenbrug Group, Allied Seed, LLC, Ampac Seed Company, KWS SAAT SE & Co. KGaA, Land O’Lakes, Inc., and S & W Seed Co. among others.
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RationalStat has segmented the global alfalfa seeds market based on formulation breeding, and region.
- Global Alfalfa Seeds Market Value (US$ Million), Volume (Tons/Units), and Market Share (2019-2030) Analysis by Formulation BreedingHybrids
- Non-Transgenic Hybrids
- Transgenic Hybrids
- Herbicide Tolerant
- Other Traits
- Global Alfalfa Seeds Market Value (US$ Million), Volume (Tons/Units), and Market Share (2019-2030) Analysis by Region
- North America Alfalfa Seeds Market
- US
- Canada
- Latin America Alfalfa Seeds Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Alfalfa Seeds Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Alfalfa Seeds Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Alfalfa Seeds Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Alfalfa Seeds Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Alfalfa Seeds Market
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Key Questions Answered in the Alfalfa Chemicals Report:
- What will be the market value of the global alfalfa seeds market by 2030?
- What is the market size of the global alfalfa seeds market?
- What are the market drivers of the global alfalfa seeds market?
- What are the key trends in the global alfalfa seeds market?
- Which is the leading region in the global alfalfa seeds market?
- What are the major companies operating in the global alfalfa seeds market?
- What are the market shares by key segments in the global alfalfa seeds market?
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RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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