Global Animal Feed Testing Market anticipated to grow at a CAGR of 6.80% to reach value of $1649.58 million by 2023
During the year 2017, Europe was estimated to have the 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.
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.
Selected Analysis done in the full Report: 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. Contact : [email protected]
Excerpts on Market Growth Factors Mentioned in the Full Report:
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. Contact : [email protected]
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