Drought-Resistant Crops: Future of the Alfalfa Market
Market Overview The global alfalfa market is experiencing steady growth, driven by a combination of rising global demand for high-quality forage crops, increasing awareness regarding animal nutrition, and expanding livestock and dairy farming. Alfalfa, often referred to as "Queen of Forages," is a perennial legume known for its superior nutritional profile, including high protein content, fiber, vitamins, and minerals. It is widely cultivated for use in hay, silage, pellets, and cubes and serves as a critical feed input for dairy cattle, horses, goats, sheep, and poultry. From 2018 to 2021, the alfalfa market saw healthy expansion, growing from approximately USD 27.6 billion in 2018 to USD 32.5 billion in 2021, recording a compound annual growth rate (CAGR) of around 5.6%. This performance was driven by a surge in global dairy production, increased livestock populations, and a shift towards sustainable and organic farming practices. Moreover, the global focus on improvin...