Animal Feed Testing Market to Attain Global Revenue of 96.8 Million by 2023
Posted by Lohitha on August 7th, 2019
Animal feed plays an important role in the quality of livestock. The quality, nutritional value, contamination levels, formulation, and other parameters are yardsticks of the quality of animal feed which are tested for the same. The dire need for improving the quality of animal feed is creating a demand influx in the animal feed testing market which is projected to have a valuation of 96.8 million by the end of 2023 as the demand for testing is poised grow with a healthy compound annual growth rate (CAGR) of 8.38% during the forecast period of 2018 to 2023, according to a market intelligence report by IndustryARC’s analyst.
The animal feed testing market research report is comprised of deeply analyzed facts, figures, and statistics pertaining to pricing condition in the market along with the challenges and growth opportunities that are foreseen in the future. The report is titled, “Animal Feed Testing Market: By Service (Pathogen, Fats and Oils and Others); By Equipment (Bomb Calorimeter, High Performance Liquid Chromatography (HPLC) Equipment, and Others); By Consumables (Glassware and Others); By Livestock; By End Users (Manufacturers, Third Party Testers and Others); & By Geography – Forecast (2018-2023).”
View Full Table Of Contents Of Animal Feed Testing Market:
Machine Vision Camera Market: Leading Segments
According to the geographical study by the market analyst, North America had the most lucrative growth prospects in the animal feed test market owing to the fact that a larger population that relies on livestock. Moreover, there were many diseases that affected animals in North America due to which animal feed has become a major concern in countries that include the US, Mexico, Canada, and others. The North America animal feed testing market was valued to be 8.73 in 2017 and will observe further growth in the future owing to the imperative implementation of testing facilities for animal feed.
The animal feed testing market is segmented on the basis of types of testing that includes pathogen testing, fats & oil analysis, feed ingredients analysis, metal and mineral analysis, pesticides and fertilizers, nutritional labeling, and others. Owing to the number of diseases that are attributable to the threat by pathogens, the pathogen testing is found to be the key application in animal feed testing market, and the application is estimated to grow with a CAGR of 8.74% through to 2023. This rise in the application is mainly attributed to the consumption of edible products that contain contaminants and therefore, it becomes necessary to execute animal feed testing.
Animal Feed Testing Market: Trends and Growth Drivers
The Growing Awareness for Meat Quality –
Nowadays, the customers of livestock are aware of the repercussions of consuming bad quality meat and the diseases that are caused by the same. This has made the meat vendors realize the need to provide good quality meat in order to retain the customers, which is significantly supporting the animal feed testing market.
The Increased Production of Livestock –
The population increase is leading to a definite demand for more livestock as the number of consumers are increasing. The more production of livestock is leading to a demand influx in the animal feed testing market.
Increase in Livestock Diseases –
The nutritional deficiency in livestock can cause metabolic imbalances, and nutritional diseases in beef, cattle, and goat are prevalent, and it has become necessary to ameliorate due to which the animal feed testing market is observing growth opportunities.
The Regulations Pertaining to Animal Feed –
Due to the disease outflow and a need to sustain the livestock resources in order to suffice the demand for the same, regulatory bodies such as Food and Drugs Administration (FDA) and the Food and Agriculture Organization (FAO) have enforced laws regarding the quality of animal feed.
Animal Feed Testing Market: Competitive Landscape
Some of the key companies identified in the animal feed testing market intelligence report that are crusading for market share are Eurofins Scientific, Intertek Group Plc., Bureau Veritas, Silliker Merieux Nutrisciences USA, Invivo Group, and others.
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IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
Mr. Venkateshwar Reddy
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About the AuthorLohitha
Joined: August 6th, 2019
Articles Posted: 121
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