Global hay market is anticipated to witness an exponential growth in the forecast period. Hay is legumes, grass or the other herbaceous plants have been cut and dried to be kept for use as animal fodder, mainly for huge grazing animals raised as livestock, such as horses, cattle, sheep and goats. Though, it is also fed to smaller domesticated animals such as guinea pigs and rabbits.
Factors such as generation of internal heat, increasing demand, changing climatic conditions, harmless feeds to offer to domesticated grazing herbivores, increasing modern dairy farm, growing demand for animal and dairy products, development in high yielding cattle, decrease of the land for grazing of animals, increasing purchasing power of customers are likely to drive the Hay market in forthcoming period. On the other hand, being sensitive to weather it has safety issues as well as low nutritional values. This factor is anticipated to hinder the market growth in future. However, nutritive nature is likely to create lucrative opportunities for the market.
Hay market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Market could be explored by product type, mixture of grass, application and geography. Market could be explored by product type as Hay Bales (small, large and Haylage), Hay Cubes and Hay Pellets.
Based on mixture of grass, the Hay market could span ryegrass (Lolium species), brome, timothy, fescue, orchard grass, Bermuda grass, legumes, such as alfalfa and clovers (white, red, and subterranean). The key applications that could be explored in the market include Poultry Feed, Beef Cattle & Sheep Feed, Dairy Cow Feed and Pig Feed.
North America is a leading region in the market. It is likely to maintain its dominance in the forecast period. UAE, Saudi Arabia and China, are foremost importers of US exports. US and Spain are key exporters globally owing to large-scale commercial farms, and increasing grain prices.
Leading Key players operating in the Hay market include Border Valley, Anderson Hay & Grain, Knight Ag Sourcing, Bailey Farms, Hayday Farm, M&C Hay, Hay USA, Barr-Ag, Legal Alfalfa Products Ltd and Standlee. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Hay in these regions, from 2012 to 2023 (forecast), covering
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Global Hay market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• Anderson Hay & Grain
• Border Valley
• Knight Ag Sourcing
• Hay USA
• Bailey Farms
• Hayday Farm
• Legal Alfalfa Products Ltd.
• M&C Hay
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Hay Bales
• Hay Pellets
• Hay Cubes
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Hay for each application, including
• Dairy Cow Feed
• Beef Cattle & Sheep Feed
• Pig Feed
• Poultry Feed
Research Support Specialist, USA