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Saudi Arabia Alfalfa Hay Market – Growth, Trends, Covid-19 Impact, And Forecasts (2021 – 2026)

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By Author: Statzy Market Research
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The Saudi Arabia Alfalfa Market is anticipated to grow at a CAGR of 5.2% during the forecast period (2021-2026). The Saudi government has made several significant decisions to combat the pandemic and the economic downturn caused by the COVID-19 pandemic. These included shutting down public places, social distancing measures, support packages(USD 61 billion), among others. Despite the challenges posed by the COVID-19 diseases outbreak, a moderate impact on the alfalfa hay market was observed as the meat consumption recorded positive growth in the country.

Over the medium term, factors including rising demand for quality hay for livestock and dairy production, prices of alfalfa hay, health benefits of alfalfa over the other alternative feed are expected to drive the market growth in the coming years. Livestock products remain the desired food for nutritional value and taste across major parts of Saudi Arabia. The annual production of beef and buffalo meat in Saudi Arabia was around 43 thousand metric ton in 2019, which has grown by 2.38% from the previous year.

Hence, the market is expected to grow significantly ...
... in the country with the rising demand from the meat industry. However, the major restraints for this market are ban on forage production and ecological factors such as scarce water resources in the country. In 2019, Saudi Arabian government announced to ban the cultivation of green fodder (forages) and replaced it with imported sources. This is expected to increase the demand for imported high-protein alfalfa, but is expected to lead to a decrease in the area harvested for alfalfa.

For sample report please visit : www.statzyreports.com/report/sr496543/saudi-arabia-alfalfa-hay-market

Key Market Trends

Rising Demand for Quality Hay for Livestock and Dairy Production

Livestock is a major factor responsible for the growth of the Saudi Arabian alfalfa market. Livestock products remain the desired food for nutritional value and taste across major parts of Saudi Arabia. The Saudi farmers heavily rely on the imported alfalfa hay to increase meat and dairy production. According to the FAOSTAT, the livestock population is rising in the country over the past few years. The number of cattle and buffalo stocks was recorded at 567,040 heads in 2019, up from 364,958 heads in 2017. Further, a significant increase has been witnessed in meat production with the rising demand. In 2019, poultry meat led the production with 800,244 metric ton, it is followed by Sheep and goat meat at 122,234 metric ton. Beef and buffalo meat production stood at 43,000 metric ton in 2019, up from the previous year. The rising meat production is expected to boost the demand of alfalfa hay in the country.

Ban on Forage Crop Cultivation in Saudi Arabia

In 2016, Saudi Arabia began a three-year plan to phase-out domestic green forage production to reduce water consumption. Total forage production is estimated at about 4 million metric ton per year at present. The country is hence dependent on imports to meet its green fodder demand. The United States is the primary exporter of alfalfa hay, however, Saudi dairies are attempting to procure from alternative sources like Argentina and Sudan.

In 2018, the Government reintroduced support for wheat production to provide forage producers with an alternative crop that is less water‑intensive than alfalfa, the main green fodder crop. However, despite the high procurement price of wheat by the Saudi Grains Organization (SAGO), at USD 304 per metric ton in 2020, many farmers still prefer to produce high protein alfalfa as its income per hectare is higher.

Hence, Saudi Arabia’s decision to phase out forage production will likely increase the demand for imported high protein alfalfa hay in the near future.

Reasons to Purchase this report:

– The market estimate (ME) sheet in Excel format
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For sample report please visit : www.statzyreports.com/report/sr496543/saudi-arabia-alfalfa-hay-market

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More About the Author

StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.

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