GLOBAL ALFALFA SEED MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

 A CAGR of 4.71% is predicted for the global lucerne seed market. The number of animals is growing in all the regions. The area covered by forages must be increased to accommodate the growing population of animals. These are a few of the main drivers of the hybrid and open-pollinated seed market's expansion.

Due to growing use of hybrid types as a result of increased knowledge of their advantages, the hybrid segment dominates the market for lucerne seeds. Due to the rise in the rate of seed replacement and the availability of enhanced varieties in the market, the hybrid seed market share value is anticipated to grow by 36% between 2022 and 2028.

In the upcoming years, the market for hybrid lucerne seed is anticipated to rise as growers accept sophisticated hybrid technology more and more. This technology includes drought tolerance and disease resistance. For instance, due to high-quality output and greater protection from weeds and illnesses than open-pollinated types, the area of transgenic lucerne grown in North America rose by 24% between 2016 and 2021.
With a CAGR of 5%, Europe is expected to experience the fastest growth in the market for OPVs because fewer farmers there are expected to use them than hybrids because they require fewer inputs, such as fertiliser and pesticides, and are less expensive, making them more accessible to small-scale and low-income farmers.

A share of around 44% of the global lucerne seed market was held by North America in 2021, thanks to the region's greatest production levels globally, favourable weather, and rising demand from dairy farmers. Due to the rising need for crops used as animal feed, the expansion of production areas, and the country's excellent profitability, Canada has the highest demand in the region.
Due to the favourable weather and increased demand for high-protein feed from livestock and cattle rearers in the Asia-Pacific region, lucerne is a significant forage crop in that region. 

Major Players: Bayer AG, Corteva Agriscience, DLF, RAGT Semences and Royal Barenbrug Group

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