Feed Testing Market worth $2.1 Billion by 2019, According to a New Study on ASDReports

Wednesday 17 September 2014, Amsterdam

The new report, now available on ASDReports, "Feed Testing Market by Livestock (Swine, Poultry, Pets, Equine, Cattle, and Aquatic animals), by Type (Mycotoxin, Pathogen, Nutritional Labeling, Crop Chemicals, Fats & Oils, and Others), & Geography - Global Trends & Forecasts to 2019", defines and segments the feed testing market with analyses and projection of the market size in terms of value and volume. It also identifies the driving and restraining factors of the feed testing market with analyses of trends, opportunities, burning issues, challenges, and restraints. The market is segmented and its size is estimated and projected on the basis of key geographical regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW).

The feed testing market has been growing significantly due to an increase in outbreaks of animal diseases caused due to the consumption of contaminated feed. Contamination of feed can occur due to improper handling of feed and feed ingredients, contaminated raw materials, inadequate treatment, and processing of feed that destroys the contaminants. World over, various regulations, laws, and standards have been implemented to assure safety of the manufactured feed. FDA, USDA, EFSA, and EUROPA are the active participants in legislating regulations to ensure good quality and safety of the feed ingredients and additives. Feed tests are performed in every stage of the feed supply chain which includes procurement, processing, packaging and labeling, storage, and transportation.

The market for feed testing is projected to grow at a CAGR of 7% by 2019. In 2013, North America was the largest feed testing market with more than 40% of the share, wherein the U.S. dominated this market. The leading players in the feed testing market include Silliker Inc. (U.S.), Intertek Group Plc (U.K.), Eurofins Scientific (Luxembourg), Institut für Produktqualität (Germany), and Romer Labs Inc. (U.S.). These players have been focusing on introducing new products and services, being involved in mergers & acquisitions, and expanding their business segments to maintain their position in the market.