Global Feed Testing Market Size to Grow at a CAGR of 6.50% by 2032
30 N GOULD ST SHERIDAN, WYOMING, USA, November 6, 2023 /EINPresswire.com/ — According to the report by Expert Market Research (EMR), the global feed testing market was around USD 2.16 billion in 2023. Aided by the rapidly growing meat and poultry industries and their growing commercialisation, the market is projected to further grow at a CAGR of 6.50% between 2024 and 2032.
Feed testing primarily involves the evaluation and inspection of animal fodder, ensuring it is free from contaminants and possesses the required nutrients for animal growth and wellbeing. It is crucial for determining the nutritional value, composition, and safety of animal feed. Consequently, as livestock producers fuel the importance of balanced diets for animals, the prominence of feed testing becomes important.
The continual rise in the global livestock population, owing to the surging demand for animal-derived products, has been a driving force behind the feed testing market growth. With the proliferation in meat and dairy consumption, livestock producers are more invested than ever in safeguarding animal health, productivity, and reducing disease outbreaks. Such situations have necessitated rigorous feed testing to ensure nutrient adequacy and contamination absence.
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One of the prevalent feed testing market trends is the escalating shift towards organic and sustainable farming practices worldwide. Such endeavours place immense emphasis on the quality and safety of both crops and animal products. Hence, as organic livestock farming gains traction, the demand for comprehensive feed testing also witnesses a surge to ensure the livestock consumes contaminant-free and nutritionally rich feed.
A notable driver fuelling the feed testing market demand is the stringency in regulatory frameworks and standards concerning animal feed quality across various regions. Governments and international bodies are reinforcing feed testing mandates, ensuring that the feed complies with set quality and safety standards. Such mandates ensure that the livestock feed does not pose health hazards to animals and, by extension, to humans consuming animal-derived products.
Advancements in feed testing technologies are another aspect bolstering the feed testing market size. Today’s laboratories are equipped with advanced analytical tools and techniques that provide swift, accurate, and comprehensive feed analysis results. These technological advancements not only optimise the testing process but also ensure the minutest contaminants and nutrient variances are accurately detected.
Market Segmentation
The market can be divided based on testing method, technology, feed stock, and region.
Market Breakup by Testing Method
Chemical Testing
Physical Testing
Nutritional Testing
Microbiological Testing
Pathogen Testing
Others
Market Breakup by Technology
Traditional Technology
Rapid Technology
Market Breakup by Feed Stock
Poultry Feed
Swine Feed
Pet Food
Cattle Feed
Aquafeed
Others
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global feed testing market. Some of the major players explored in the report by Expert Market Research are as follows:
SGS Group
R J Hill Laboratories Limited.
Eurofins Scientific
Intertek Group plc
Romer Labs Division Holding GmbH
NSF International
Others
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