Global Alfalfa Seed Market Size to Exceed USD 1071.8 Million by 2033: Market Insight Report

Global Alfalfa Seed Market Size to Exceed USD 1071.8 Million by 2033             

According to a research report published by Spherical Insights & Consulting, The Global Alfalfa Seed Market Size Expected to Grow from USD 535.9 Million in 2023 to USD 1071.8 Million by 2033, at a CAGR of 7.18% during the forecast period 2023-2033.  

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Alfalfa Seed Market Size, Share, and COVID-19 Impact Analysis, By Breeding Technology (Hybrids, Open Pollinated Varieties & Hybrid Derivatives) and By Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America), Analysis and Forecast 2023 - 2033.

The pods of the alfalfa plant produce the tiny, kidney-shaped seeds known as alfalfa seeds. Another name for the perennial legume plant alfalfa is lucerne. The small seeds of the alfalfa plant, a perennial legume commonly grown as a cover crop and feed, are botanically known as alfalfa seeds (Medicago sativa). This is because it may yield high-quality hay or forage for animal feed, these nutrient-dense seeds are frequently utilized in agriculture. Alfalfa seeds can stay dormant until ideal conditions for germination arise because of their strong outer covering. Furthermore, cattle, horses, sheep, and goats can all benefit from eating alfalfa, which is high in protein, vitamins, and minerals. As the demand for meat and dairy products rises globally, so does the need for premium animal feed. However, windstorms, droughts, floods, and extremely high or low temperatures can all have an impact on the crop's quantity and quality.

The hybrid seeds segment is anticipated to hold the largest share of the global alfalfa seed market during the forecast period.

Based on the breeding technology, the global alfalfa seed market is segmented into hybrids, open pollinated varieties & hybrid derivatives. Among these, the hybrids seeds segment is anticipated to hold the largest share of the global alfalfa seed market during the forecast period. The expansion can be attributed to the number of livestock growing in many parts of the world. The growth of the area under forages is necessary due to the growing number of cattle, and alfalfa provides easily digestible fiber content. These are a few of the main drivers of the market expansion for open-pollinated and hybrid alfalfa seeds.

North America is expected to hold the largest share of the global alfalfa seed market during the predicted timeframe.

North America is expected to hold the largest share of the global alfalfa seed market during the predicted timeframe. This is because there are so many animals in North America, that it needs a steady supply of wholesome feed, which alfalfa provides. The demand for alfalfa is largely driven by the dairy industry in the United States because dairy cows need high-quality feed that is high in calcium and protein. In the American equestrian industry, alfalfa is frequently utilized to help horses meet their nutritional needs.

Europe is expected to hold the largest share of the global alfalfa seed market during the predicted timeframe. Europe has a sizable herd of cattle and is a key producer of veal and meat. Better fodder crops, such as alfalfa, are in more demand as consumers want higher-quality meat. Alfalfa production is rising as a result of a shift in farming methods in Europe toward more sustainable ones.

Company Profiling 

Major vendors in the Global Alfalfa Seed Market are Great Basin Seeds, LLC, Corteva, S&W Seed Company, W-L Alfalfas, Alforex Seeds LLC, Forage Genetics International, DLF International Seeds, Dyna-Gro Seed, Lacrosse Seed, Allied Seed LLC, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development 

• In December 2022, for USD 42 million, S&W Seed purchased DuPont's Pioneer Alfalfa seed company. More than 15 DuPont Pioneer alfalfa seed types are already available on the market and more than 60 varieties in development will be acquired by S&W as part of the deal.

• In February 2022, in order to investigate the genetic evolution and improvement of alfalfa at Uruguay's Technological Laboratory, Barenbrug and the National Institute for Agricultural Research (INIA) inked a cooperative agreement.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Global Alfalfa Seed Market based on the below-mentioned segments: 

Global Alfalfa Seed Market, By Breeding Technology

• Hybrids
• Open Pollinated Varieties
• Hybrid Derivatives

Global Alfalfa Seed Market, By Regional 

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America 
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa 
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa