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Global Feed Testing Market - Growth, Trends and Forecasts (2017 - 2022)

Global feed testing is a niche analytical service to the food and feed industry. Feed testing includes testing of pathogens, pesticides, mycotoxins and drugs in animal feed. Feed testing includes testing in all the stages of feed processing during production and packaging. The global feed testing market was worth around $520 million in 2015  and is expected to cross $900 million by 2020 growing at the CAGR of 9.2% during the forecast period (2017 - 2022). The global feed testing market has more demand due to its major outbreaks of livestock diseases, which is highly correlated to the livestock production and other demographics factors differing from region to region. Livestock diseases might be due to several factors such as unhygienic conditions, parasite outbreak, overcrowding of animals, use of antibiotics etc. Concentrated animal feeding operations (CAFO) are making disease outbreaks easier. Meat obtained from infected animals falls under unfit meat for consumption, as they act as carrier of pathogens. Eventually, the market has gained the attention of feed producers to produce the quality products in order to obtain high quality meat. Implementing strict regulation by governments to avoid disease outbreaks among the animals expands the market further. Regulatory bodies such as the FDA, FAO, USDA and Europa have made feed testing necessary before they are marketed.                       Increasing population has stimulated the demand for meat and meat products, this eventually led to high consumption of compound feed and feed additives. This growth of consumption has created an opportunity for feed testing market as more feed is being produced for animal consumption. These factors along with rising health awareness have led to surging in demand for feed testing.   Contamination of feed occurs by mishandling of the products, exposure to polluted environment during production and packaging. Contaminated feed affects the animal performance such as reduction in weight and milk production. Pesticides and unwanted metals can easily seep into the feed through the sources such as plants, soil and water. In order to eradicate the contamination of feed, the market is gaining the attention of feed producers. Less awareness about the feed quality is causing an effect on animal health. This in turn is barricading the growth of feed testing market. The need for expert analysis and high quality equipment to analyze the feed is a major constraint for the feed testing industry. Expert teams and equipment are capital intensive. Varieties and evolution of pathogen strains make feed hard to analyze for pathogen contaminants. The global implementation of feed testing regulations has been driving the feed testing market. Feed testing is growing day by day as awareness is making it compulsory in consumers mind. Good manufacturing and agricultural practices are taking a lead to producing safe and high quality feed. Mycotoxin testing holds the major share, as the majorly used feed substances such as cereals are easily prone to fungal growth due to high moisture levels. Nutritional labeling is also a major market for feed testing. It is important to feed the animals appropriately as the growth, immunity, yield and lifetime of the animal depends on it. Appropriate feed can help lower or eliminate antibiotic use in animals. Other types of testing include aflatoxins, nutritional labelling analysis, pathogen testing, fats and oils analysis, crop chemicals analysis etc. North America has its major share in the feed testing market followed by Europe. The strict regulations of the government have led North America to lead in feed testing market. Europe also has a sizeable market and good number of firms in feed testing. Western Europe with its highly aware consumers is a good market for feed testing. Asia Pacific is the fastest growing market globally. The key players are R J Hill Laboratories Ltd, Eurofins Scientific, Genon Laboratories Ltd. and others.         The most preferred strategies of the key players in recent years are to achieve competitive advantage and to expand the business units in various geographical areas by joint ventures, expansion and acquisition. Key players are eventually focusing on agreements and partnerships to balance the supply and demand of the market. Introducing new effective products is another strategy to stay ahead of the competition. Firms are also concentrating on the introduction of a new variety of tests to compliance with regulatory authorities. Study Deliverables: Market Definition for the specified topic along with identification of key drivers and restraints for the market Analysis for the Global Feed Testing Market, with region specific assessments and competition analysis on a global and regional scale Segment-level analysis in terms of application and end-user demand Forecasts and estimations for the sub-segment level market Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies, which can influence the market on a global and regional scale Identification and analysis of the exogenous and endogenous factors such as macro and microeconomic variables that affect the Global Feed Testing Market on both global and regional scale Extensively researched competitive landscape section with profiles of key players along with their share of markets A comprehensive analysis of recent organic and inorganic developments in the market by the major companies, and strategic benchmarking of developments Scope of the Study: Comprehensive overview of the worldwide Feed Testing Market Competitive intelligence regarding the major players in this industry and the strategies adopted by them Insights about the major countries/regions in which this industry is blooming and also identifies the regions which are untapped

Published By: Mordor Intelligence
Published Date: Q2 2016

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