The Global Feed Testing Market was worth USD 569.2 million in 2016 and estimated to be growing at a CAGR of 9.2%, to reach USD 883.85 million by 2021.
The Feed Testing market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the increasing demand for inclusion of specific feed additives like proteins and thus the need for testing of feed.
The companies in agricultural industry have shown significant interest in the market lately.
Feed testing is generally used to test for pesticides, pathogens, mycotoxin etc.
These tests are necessary for maintaining proper animal health and thus improve their productivity.
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Rising demand for high quality and sustainable animal nutrition products have led to rapid growth of the market in recent years. Other factors driving the Feed Testing Market include compulsory analysis of feed safety and quality, customized services emerging as cost and time effective solutions, management of feed productions’ operating cost.
The market also faces some restraints and challenges as well. Some of these are lack of awareness among farmers about animal feed regulations, Expert analysis required to use advanced testing technologies for extensive sample preparation.
These factors have been responsible for holding the market.
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The global market for Feed Testing is segmented on the basis of type and livestock. The market segmentation on the basis of type is done under Crop Chemicals Analysis, Nutritional Labelling Analysis, Pathogen Testing, Fats & Oils Analysis, Mycotoxin Testing.
The market share is dominated by Pathogen Testing segment. Based of livestock the market is segmented into swine, poultry, cattle, aquaculture, pet foods and others.
The cattle segment accounted for the highest market share on the basis of livestock due to increase in production of cattle meat over the recent years and is expected to grow even further. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World.
The Feed Testing market was dominated by North America, with the overall market share of over 36% globally. North America was followed by Europe and Asia Pacific.
Asia Pacific market is predicted to grow at a rapid pace in the coming few years.
Some of the major companies dominating the market, by their products and services include Adpen Laboratories Inc., Bureau Veritas SA, Eurofins Scientific, Genon Laboratories Ltd., Institut Für Produktqualität Gmbh (IFP), Intertek Group Plc, R J Hill Laboratories Ltd, Romer Labs Inc., SGS SA, Silliker Inc.
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