Overview of the Global Market for Lucerne (Alfalfa) Meal And Pellets

Market Size for Lucerne (Alfalfa) Meal And Pellets

In 2021, after five years of growth, there was decline in the global lucerne meal and pellets market, when its value decreased by -1.6% to $X. The market value increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked at $X in 2020, and then dropped in the following year.

Production of Lucerne (Alfalfa) Meal And Pellets

In value terms, lucerne meal and pellets production dropped slightly to $X in 2021 estimated in export price. In general, the total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +56.6% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of 16% against the previous year. Global production peaked at $X in 2020, and then dropped slightly in the following year.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports

In 2021, global lucerne meal and pellets exports was estimated at X tons, remaining constant against the previous year. Over the period under review, exports, however, recorded a mild slump. The growth pace was the most rapid in 2020 when exports increased by 13% against the previous year. The global exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, lucerne meal and pellets exports rose notably to $X in 2021. Overall, exports, however, saw a mild descent. The most prominent rate of growth was recorded in 2018 with an increase of 11%. The global exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Spain was the major exporter of lucerne (alfalfa) meal and pellets in the world, with the volume of exports finishing at X tons, which was approx. 30% of total exports in 2021. It was distantly followed by Italy (X tons), the United States (X tons), South Africa (X tons), France (X tons), Canada (X tons) and Oman (X tons), together constituting a 52% share of total exports.

Exports from Spain decreased at an average annual rate of -1.3% from 2012 to 2021. At the same time, South Africa (+23.5%), Oman (+11.1%) and Canada (+1.5%) displayed positive paces of growth. Moreover, South Africa emerged as the fastest-growing exporter exported in the world, with a CAGR of +23.5% from 2012-2021. By contrast, France (-3.0%), the United States (-4.3%) and Italy (-4.8%) illustrated a downward trend over the same period. While the share of South Africa (+7.9 p.p.) and Oman (+3.3 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of France (-1.6 p.p.), the United States (-3.6 p.p.) and Italy (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Spain ($X) remains the largest lucerne meal and pellets supplier worldwide, comprising 26% of global exports. The second position in the ranking was held by Italy ($X), with a 13% share of global exports. It was followed by South Africa, with an 11% share.

In Spain, lucerne meal and pellets exports decreased by an average annual rate of -2.4% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (-6.1% per year) and South Africa (+25.7% per year).

Export Prices by Country

In 2021, the average lucerne meal and pellets export price amounted to $X per ton, increasing by 4.6% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average export price increased by 4.8%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+1.8%), while the other global leaders experienced more modest paces of growth.

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports

In 2021, the amount of lucerne (alfalfa) meal and pellets imported worldwide rose markedly to X tons, picking up by 13% compared with the previous year. The total import volume increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 21%. Over the period under review, global imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, lucerne meal and pellets imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 21% against the previous year. Over the period under review, global imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the key importers of lucerne (alfalfa) meal and pellets in 2021, resulting at approx. 18% and 15% of total imports, respectively. Japan (X tons) took a 5.5% share (based on physical terms) of total imports, which put it in second place, followed by Germany (5.1%). France (X tons), the United States (X tons), Belgium (X tons), Jordan (X tons), China (X tons), Portugal (X tons), the UK (X tons), Qatar (X tons) and Greece (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +41.1%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest lucerne meal and pellets importing markets worldwide were Saudi Arabia ($X), the United Arab Emirates ($X) and Japan ($X), together accounting for 36% of global imports. The United States, Qatar, Germany, Jordan, Belgium, the UK, France, China, Portugal and Greece lagged somewhat behind, together comprising a further 41%.

Jordan, with a CAGR of +34.2%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average lucerne meal and pellets import price amounted to $X per ton, picking up by 2.3% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 11% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Qatar ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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