Asia-Pacific expected to dominate with major share in the Animal Feed Testing Market:
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. 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.
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Key players of the Animal Feed Testing Market
According to the analysis, SGS Agri-food Laboratories, Eurofins Scientific, ALS Laboratory Group, AFGRI Limited, Intertek Group Plc, LGC Limited are being 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 agrochemical, 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.
Rohith Koluguri
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