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Lucerne Market by Type (Hay, Chaff, Silage, Others), by End-use (Food Industry, Feed Industry, Others), by North America (United States, Canada, Mexico), by Europe (Germany, France, Italy, United Kingdom, Spain, Nordics, Benelux, Rest of Europe), by Middle East & Africa (UAE, South Africa, Saudi Arabia, Rest of Middle East Africa), by Asia Pacific (China, Japan, India, South Korea, Taiwan, South East Asia, Australia, Rest of Asia-Pacific), by Latin America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The size of the Lucerne Market was valued at USD 232.6 USD Billion in 2023 and is projected to reach USD 507.18 USD Billion by 2032, with an expected CAGR of 11.78% during the forecast period. Lucerne, also known as alfalfa, is a versatile leguminous plant renowned for its high nutritional value and adaptability. It exists in various types, including common alfalfa, which is used primarily as forage, and specialized varieties like drought-resistant and high-yielding strains. Lucerne features a deep root system that enhances soil structure and improves nutrient cycling, along with trifoliate leaves that are rich in proteins, vitamins, and minerals. Its applications are widespread, from animal feed and soil improvement to its role as green manure in sustainable farming practices. Additionally, lucerne is utilized in various forms such as hay, silage, and pellets, making it an essential component in agricultural and ecological systems.
Lucerne Trends
Type:
End-use:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 11.78% from 2018-2032 |
Segmentation |
|
Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 11.78% from 2018-2032 |
Segmentation |
|
Note* : In applicable scenarios
Primary Research
Secondary Research
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