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Market Overview of Global Concentrated Alfalfa Extract market:
According to our latest research, the global Concentrated Alfalfa Extract market looks promising in the next 5 years. As of 2022, the global Concentrated Alfalfa Extract market was estimated at USD 36.02 million, and it's anticipated to reach USD 52.94 million in 2028, with a CAGR of 6.63% during the forecast years.
Concentrated alfalfa extract is rich in minerals, vitamins, Lutein and many other nutrients. It can be explained by its original extraction process which strongly increases the digestibility of the proteins from the original plant: alfalfa.
Epidemic risk
After the outbreak of novel coronavirus, countries around the world issued policies to prevent and control the epidemic according to the national deployment. The epidemic affected a wide range, and the production, operation and consumer markets of various industries were affected. Our suppliers, customers and other stakeholders are also affected to varying degrees, which leads to delays in procurement, production and sales, which has a certain impact on the company's operations in the industry. If the novel coronavirus outbreak breaks out again or becomes normal, it will have a certain impact on the overall production and operation of the company and the industry.
Expansion of sales channels
In the current market, in order to seize higher market share and gain higher market revenue, it is necessary to expand sales channels, attach importance to product sales chain and sell products to more people. With the development of e-commerce, the tremendous opportunities brought by the explosive growth of e-commerce not only bring changes to the operation of logistics centers, but also provide protection for traditional physical retail outlets. The industry should pay more attention to online sales. In the modern society with developed e-commerce, people have become accustomed to online shopping. They can know the detailed information and price comparison of products through the network platform, and send the products directly to the factory. Therefore, the marketing channels will be further expanded, and the online sales market will be further expanded in the future.
Low price competition is serious
With the development of internet and the rise of e-commerce, the price, product types and product functions of Concentrated Alfalfa Extract tend to be transparent. Before purchasing Concentrated Alfalfa Extract, consumers can obtain a large amount of information through online channels, and their autonomy is gradually enhanced. The homogenization of Concentrated Alfalfa Extract products is serious, and the price becomes an important measure when consumers choose products. For the above reasons, low-price competition has gradually become an important means for Concentrated Alfalfa Extract enterprises to compete for market share. Low-price competition forces more enterprises to be involved in price wars. In this process, small and medium-sized enterprises with weak financial strength are more likely to be eliminated by the market. In order to stabilize the market foundation and maintain the profit level of enterprises, all Concentrated Alfalfa Extract enterprises usually take the following measures: Small profits but quick turnover: directly reduce commodity prices to improve the price advantage of products, and then drive up the sales volume of products, and rely on the sales volume of products to guarantee the profits of enterprises; Reduce labor costs: hire cheap labor and extend labor hours to reduce labor costs; Reducing production costs: including reducing raw material costs and production procedures. Reducing raw material costs can be achieved by reducing raw material quality, while reducing production procedures can be achieved by reducing product functions. All of the above methods have drawbacks, because small profits but quick turnover can easily lead to a vicious circle, which requires the financial strength and production capacity of enterprises. At present, labor costs tend to rise, and reducing labor costs in enterprises will affect the stability of employees. Reducing the cost of raw materials will directly lead to the decline of product quality, which is not conducive to the accumulation of product reputation. Therefore, low-price competition has a high degree of damage to enterprises in terms of capital, labor and word of mouth, which is not conducive to the long-term development of enterprises, and further affects the healthy and orderly development of the industry.
Region Overview:
In global comparison, a significant portion of the revenue was generated in North America (33.53% in 2022).
Company Overview:
Bioriginal Food & Science Corp is one of the major players operating in the Concentrated Alfalfa Extract market, holding a share of 17.02% in 2023.
Bioriginal Food & Science Corp
Bioriginal is a global leader in delivering complete nutritional solutions to the Food and Nutraceutical industries. With over 25 years of global expertise, Bioriginal has carved out a niche by scientifically combining nutritional ingredients from all over the world, directly from the source, to create unique and efficacious solutions.
Shaanxi Jiaherb Phytochem
JIAHERB is a world's leading company certified by cGMP, ISO series, Kosher and Halal, dedicated to the identification, development and production of botanical extracts and derivatives. With Strong R&D Capabilities, advanced quality control and production technology, JIAHERB continue make innovations with the specialty ingredients that serve the nutraceutical, pharmaceutical and cosmetics industries.
Segmentation Overview:
Among different product types, Alfalfa Concentrate Powder segment is anticipated to contribute the largest market share in 2028.
Application Overview:
The market's largest segment by application is the segment Food industry, with a market share of 42.99% in 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Concentrated Alfalfa Extract market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Concentrated Alfalfa Extract Market Report:
Market Size Estimates: Concentrated Alfalfa Extract market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Concentrated Alfalfa Extract market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Concentrated Alfalfa Extract market
Segment Market Analysis: Concentrated Alfalfa Extract market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Concentrated Alfalfa Extract market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Concentrated Alfalfa Extract Market: Revenue and sales volume of major countries in each region
Concentrated Alfalfa Extract Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Concentrated Alfalfa Extract market in major regions.
Concentrated Alfalfa Extract Industry Value Chain: Concentrated Alfalfa Extract market raw materials & suppliers, manufacturing process, distributors, downstream customers
Concentrated Alfalfa Extract Industry News, Policies & Regulations
Key players in the global Concentrated Alfalfa Extract market are covered in Chapter 12:
Xi'an Sinuote Biotech Co., Ltd.
Naturalin
Hunan NutraMax
Ningxia vanilla Biological technology co., LTD
Ingredients by Nature
Desialis
Bioriginal Food & Science Corp
Shaanxi Jiaherb Phytochem
In Chapter 2 and Chapter 15.1, based on types, the Concentrated Alfalfa Extract market from 2018 to 2028 is primarily split into:
Alfalfa Concentrate Powder
Alfalfa Concentrate Pellets
In Chapter 3 and Chapter 15.2, based on applications, the Concentrated Alfalfa Extract market from 2018 to 2028 covers:
Food industry
Medicines & Health products
Pet food and poultry feed
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Concentrated Alfalfa Extract market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028