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Alfalfa Market 2019 to Flourish with an Impressive CAGR of 5.2% in the year 2023, Predicts Market Research Future with Complete Business Overview and Development Strategies

Alfalfa

The Report Titled on “Global Alfalfa Market – Segmented by Type and Geography – Growth, Trends, and Forecast (2019 – 2023)”, Delivers Information studies of the current situation (with the base year being 2019) and the growth prospects of global Alfalfa Forecast market 2019-2023.

“Alfalfa Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Alfalfa Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.

The Key Players covered in this study:-

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Overview of Alfalfa Market Report:

The global alfalfa market is expected to record a steady CAGR of 5.2% during the forecast period (2019 – 2023). North America holds the largest market share of nearly 30% and it is expected to retain its position throughout the forecast period. However, Asia-Pacific is likely to witness the fastest growth during the forecast period. The US dominates a large portion of the alfalfa exports market and is the second largest exporter after Spain. The dairy product prices have been declining for the last two years, thereby, reducing the market for use of alfalfa in the dairy segment. On the other hand, the demand for alfalfa has surged from the Middle East and Asia, which has resulted in a rise in the export of alfalfa.

Drought Affects the US Alfalfa Production

The US is one of the largest producers of alfalfa and alfalfa hay. In 2016, the production was largely affected by drought and cold, with the production going down by 1% in the country. California, one of the largest producers of alfalfa in the country, experienced an 8.5% decline in the production owing to severe drought conditions. The Californian production of alfalfa is also expected to be affected by the regulations on groundwater in the state, which will lead to a decline in alfalfa production, owing to the water requirements of the forage crop.

New Crop Varieties Driving the Market

New varieties, like low-lignin alfalfa, are expected to increase the popularity of alfalfa among the growers as it is expected to give higher quality forage with the same amount of harvest. S&W seeds, one of the leading seed companies, introduced 45 new varieties of alfalfa seeds developed for multiple pest resistance, forage quality, and yield. The company aims to capture a larger market through this development and it also aims to become the go-to provider for alfalfa seed.

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Reasons to Purchase this Report

  • Identify the dominating and the fastest growing regions in the global alfalfa market and their growth trends during the forecast period
  • The report outlines drives, restraints, and trends that are currently affecting the market
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

    Order a copy of Alfalfa Market Report 2019 @ https://www.360researchreports.com/purchase/13103923

    Market Segment by Regions, regional analysis covers

    • North America (the United States, Canada, and Mexico)
    • Europe (Germany, France, UK, Russia, and Italy)
    • Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
    • South America (Brazil, Argentina, Colombia, etc.)
    • The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

     “We also can offer a customized report to fulfill the special requirements of our clients. Regional and Countries report can be provided as well.”

    Our Other Reports: CAGR of Practice Management System Market is expected to grow 8.3% in the year (2019-2023), Predicts Market Research Future Including Various Factors like Top Manufacturers, Product Type, Focused Application

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