Global Alfalfa Protein Concentrate Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.
Alfalfa Protein Concentrate refers to plant-based protein concentrate extracted from lucerne or Medicago sativa plant. Medicago Sativa is native to South and Central Asia, but over the years it has been grown around the world. Alfalfa is considered rich in vitamins, minerals, and protein. It is widely used as animal feed as well as medicinal herb in health supplements. The surge in consumption of herbal dietary supplements and increasing demand for nutrition reach livestock feed as well as recent initiatives from leading market players are factors that are accelerating the global market demand. For instance, According to American Botanical Council’s (ABC’s) 2020 Herb Market Report – during 2020, the sales of herbal dietary supplements in the United States surpassed USD 10 billion for the first time. In addition, during 2020, American Consumers spent an estimated USD 11.261 billion on herbal supplement products, witnessing a 17.3% increase from 2019. Moreover, leading market players are working towards strategic initiatives to launch new products to leverage the growing demand for Alfalfa Protein Concentrate. For instance, in October 2021, California, USA based Ingredients by Nature (IBN) announced a partnership with Canada-based Virentia in preparation for launch of ChloroBlast. ChloroBlast is a new chloroplast concentrate from alfalfa. Also, growing prevalence of lifestyle diseases and increasing emergence of e-commerce platforms are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a high cost associated with dietary supplements impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Alfalfa Protein Concentrate Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing demand for organic health supplements and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the rising demand for nutrition reach animal feed and growing nutraceuticals sector in the region, would create lucrative growth prospects for the Alfalfa Protein Concentrate Market across the Asia Pacific region.
Major market players included in this report are:
Bioriginal Food & Science Corporation
Hindustan Animal Feeds
Conduzioni Aziende Agricole Forte
Alfalfas Sat Ans?
Xi’an Tianrui Biotech Co., Ltd.
3W Biotanical Extract
Changsha Active Ingredients Group.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Sales Channel
By End Use Industry
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028
Target Audience of the Global Alfalfa Protein Concentrate Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers