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(MoneyNewsWire.Net, November 08, 2017 ) 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. in order to ensure the absence of any contaminants that may be responsible for food poisoning, toxicity or any other illness. 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
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.
Responsible for holding the market.
Market Segmentation:
1 Type
1.1 Introduction
1.2 Crop Chemicals
1.3 Nutritional Labelling
1.4 Pathogen Testing
1.5 Fats & Oils Analysis
1.6 Mycotoxin Testing
1.7 Y-o-Y Growth Analysis, By Type
1.8 Market Attractiveness Analysis, By Type
1.9 Market Share Analysis, By Type
2 Livestock
2.1 Introduction
2.2 Poultry
2.3 Swine
2.4 Cattle
2.5 Ruminant
2.6 Aquaculture
2.7 Pet Foods
2.8 Y-o-Y Growth Analysis, By Livestock
2.9 Market Attractiveness Analysis, By Livestock
2.10 Market Share Analysis, By Livestock
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Scope of the report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
• Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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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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