Global Animal Feed Testing Market anticipated to grow at a CAGR of 6.80% to reach value of $1649.58 million by 2023

In the Report “Animal Feed Testing Market: By Type (Pet Food, Forages, Equine Feed, Poultry Feed, Premixe, Medicated Feed) Testing Type (Proximate Analysis, Pathogen Testing, Drugs, Antibiotics, Pesticides, Fertilizers, Metals, Minerals, Others)-Forecast (2018-2023)” published by IndustryARC, the market is driven by fast-developing animal farming which will increase the necessity for animal feed testing to ensure that the livestock gets healthy, nutritious feed which is free from any contamination.

During the year 2017, Europe was estimated to have maximum sale in the global animal feed testing market. The European market is expected to show a CAGR of 2.33% from 20178-2023, and to reach a revenue of $447.78 million by 2023, from $389 million in 2017. As the European Feed Additive Legislation has stipulated a few rules and procedures for the feed additives, taking into concern the human and animal health, the use of feed test has increased recently in Europe.\. America is the second leading market in technological advancement, and in the production of new products with the help of increase in the number of livestock farming. The new product productivity growth, economic gains and new industries in the animal feed additive sector has helped the market to grow. The American market is expected to reach a revenue of $544.47 million by 2023 at CAGR of 8.38% from 2017. The findings say Asia-Pacific will act as the probable key driver for Animal feed testing over the years. APAC is estimated to become the fastest growing region, with a CAGR 13.86%, and to reach a revenue of $636.36 million by 2023. High development is seen in developing countries, for example, China, Brazil and India, because of increasing income levels and rising per capita meat consumption.

The global market for type of testing is expected to grow at a CAGR of 6.8% from $1106.4 million in 2017 to $1645.95 million by 2023. The market is growing due to customer’s increasing attention towards pets. Mycotoxin testing consists of large shares in animal feed analysis market. About 42% of the total market is occupied by mycotoxin testing, followed by Nutritional labeling. Mycotoxin testing market is expected to grow at a CAGR of 6.51% to reach $654.16 million by 2023. In feed analysis type, fish feed is estimated to grow at a CAGR of 15.50 globally. Fish feed production and use has increased dramatically in the past five years. The top companies are performing well in this field. Most of the feed testing companies are U.S. based. The demand is determined by the customer’s increasing attention towards their animals, and the demand for customization of animal feed testing laboratories. Nowadays, customers prefer more special testing facility that is applicable to certain units like vitamin test, proximate analysis, etc., which encourages the provider and feed testing laboratory to invest more on the availability and offering.

• Livestock based industries are growing at a rapid pace, due to the need for healthy livestock which is disease free. This has led the market towards a higher rate of consumption. This will also create a significant demand for animal feed testing services.

• Concern about food safety, checking of contaminants substance such as pathogens, antibiotics and chemicals is an issue which the market is facing.So, the technological innovations and advancement in safety testing has made the discovery of contaminants and the presence of unwanted elements in food and feed very easy. This will increase the demand for testing of animal feed for safety and efficacy.

• Growing demand for organic products, which are formed without using chemicals and unnatural resources, will lead the growth of this market significantly. 

• Population enumeration and improving economies will drive the large scale adoption of milk, eggs and meat into regular dietary patterns of the population.This willlead to theincrease in the number of poultry and dairy farms.

• Increasing awareness among farmers and pet owners regarding the safety of feed in a number of productsrelated to animal feed and pet food has led towards greater consumption.This, causesan increase in the demand for standardized tests on the contaminations and toxins in products before released into the market. 

According to the analysis, SGS Agri-food Laboratories, Eurofins Scientific, ALS Laboratory Group, AFGRI Limited, Intertek Group Plc, LGC Limited are were the key players of the global animal feed testing market in 2017. The top key players hold a share of 85% in the global market. The other companies such as Siliker - MérieuxNutriSciences USA, AGROLAB Group, Midwest Laboratories, Inc., Dairy One Cooperative, Inc. and others hold held a market share of 15% in 2017. AFGRI Limited company provides three types of services viz. agricultural services, financial services and food. ALS Laboratory Group provides service for animal feed, tests in the areas of microbiological, pesticides and agro chemical, vitamins and additives and Allergens. Microbiological testing, Trace residue tests, Mycotoxins testing, and Vitamin testing are the services established. Look for more list of companies contributing towards the annual growth of the market, mentioned below in segmentation.