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Alfalfa hay market is expected to grow at a compound annual growth rate of 5.89% over the forecast period to reach a market size of US$20.551 billion in 2025 from US$14.576 billion in 2019.
Moreover, out of the projected global growth overall meat consumption is expected to account for 82%. The APAC region led by China and the LACs with Brazil leading the region are estimated to contribute to most of the expansion is expected to surpass the growth in OECD countries in the next decade. Capacity building, improved agriculture, increasing integration of modernized, and intensive production technologies that are expected to catalyze the growth in these countries. The poultry sector is a testimony to the aforesaid when it comes to Brazil, China, and India as well as with the Commonwealth of Independent States (CIS) countries, to a certain extent.