PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1489430
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1489430
According to Stratistics MRC, the Global Feed Testing Market is accounted for $2.94 billion in 2023 and is expected to reach $5.31 billion by 2030 growing at a CAGR of 8.8% during the forecast period. A vital step in guaranteeing the nutritional content and quality of animal feed is feed testing. Feed testing examines the composition of ingredients by means of a thorough analysis, ensuring that all necessary nutrients, contaminants, and potential toxins are present. This procedure helps create balanced diets for pets and livestock that will support their best possible health and performance. Moreover, a range of methodologies, including proximate analysis, amino acid profiling, and mycotoxin screening, are utilized to precisely evaluate feed quality.
According to the American Veterinary Medical Association (AVMA), ensuring the welfare of animals is a fundamental responsibility of veterinary professionals, encompassing their physical, mental, and emotional well-being.
Raising knowledge amongst livestock producers
Livestock producers are becoming more and more conscious of the importance of feed quality and safety as the livestock industry places an increasing emphasis on animal welfare and maximum productivity. Farmers are becoming more and more aware of the connection between animals general health, growth, and productivity and the quality of the feed they receive. Additionally, the need for thorough feed testing services that can precisely evaluate the composition, safety, and nutritional value of animal feed has increased as a result.
Absence of harmonization and standardization
The absence of uniform testing procedures and unified laws across various jurisdictions and regions is a major barrier to the feed testing market. Worldwide, there are many different regulatory frameworks and testing protocols, which cause discrepancies in how results are interpreted and how compliance requirements are met. Feed producers and exporters may find it difficult to navigate the regulatory environment and ensure compliance with disparate standards due to this lack of standardization. Furthermore, variations in testing procedures and reporting formats may make it difficult to compare results across laboratories and nations, eroding trust in the accuracy and dependability of feed testing data.
Developments in technology for feed testing
The feed testing market has a lot of room to grow and innovate thanks to the quick developments in analytical technologies. For assessing feed composition and quality, emerging technologies like mass spectrometry, near-infrared spectroscopy (NIRS), and DNA-based approaches provide quicker, more affordable and non-destructive options than conventional wet chemistry methods. High-throughput analysis, real-time monitoring, and improved accuracy in identifying pollutants, toxins, and nutritional parameters in animal feed are made possible by these technologies. Moreover, procedures are streamlined, human error is decreased, and data interpretation is enhanced when automation, robotics, and artificial intelligence (AI) are incorporated into testing workflows.
Regulatory uncertainty and difficulties with compliance
Changing compliance requirements and regulatory uncertainty pose a serious threat to the feed testing market. Feed safety, quality, and labeling regulations are frequently updated and revised in response to new scientific findings, public health issues, and geopolitical considerations. Because regulations are always changing, feed producers have to keep up with the latest developments and modify their testing procedures and practices to maintain compliance. Furthermore, the interpretation and application of testing standards may become complex and inconsistent due to differences in regulatory requirements among various jurisdictions and regions.
The feed testing market has experienced a range of effects from the COVID-19 pandemic, including opportunities as well as challenges. On the one hand, feed producers have faced difficulties due to supply chain disruptions brought on by the pandemic, logistical limitations, and economic uncertainty. This has resulted in variations in the demand for testing services and postponements in testing procedures. However, social distancing protocols and lockdown measures have made it more difficult for inspectors to conduct onsite tests and access testing facilities, which have affected laboratories capacity to meet client demands and ensure service continuity.
The Proximate Analysis segment is expected to be the largest during the forecast period
The proximity analysis segment is anticipated to hold the largest share in the feed testing market. Determining the main ingredients in feed, such as its moisture, protein, fat, fiber, and ash content, is known as proximate analysis. In order to ensure optimal animal health and performance and to formulate balanced diets for livestock, this analysis offers vital information about the nutritional composition of the feed. Moreover, feed producers, farmers, and regulatory agencies frequently use proximate analysis to evaluate the safety and quality of feed ingredients and final feed products.
The Aquafeed segment is expected to have the highest CAGR during the forecast period
In the feed testing market, the aquafeed segment is growing at the highest CAGR. High-quality aquafeed is becoming more and more necessary to support the healthy growth of fish and shrimp as aquaculture spreads throughout the world to meet the growing demand for seafood. Feed testing is essential for guaranteeing the nutritional value, safety, and regulatory compliance of aquafeed formulations. Additionally, the swift expansion of this particular segment can be attributed to various factors, including amplified aquaculture productivity, advancements in aquafeed formulation technologies, and an increased focus on sustainable aquaculture methods.
North America has the largest share of the feed testing market. The region's thriving livestock and aquaculture industries, strict legal frameworks regulating feed safety and quality, and a strong emphasis on technological advancements in feed formulation and testing are some of the reasons for this dominance. The need for thorough feed testing services is also being driven by rising consumer awareness of food safety and animal welfare regulations in North America. Furthermore, North America continues to be a major market for feed testing services, controlling a sizeable portion of the global market thanks to a well-established infrastructure for feed production and testing laboratories as well as continuous research and development initiatives.
The Latin America region is most likely to have the highest CAGR in the feed testing market. Numerous factors are contributing to this region's rapid growth, such as the growing aquaculture and livestock industries, the growing consumer demand for safe and high-quality animal products, and the increased regulatory focus on feed safety regulations. Additionally, in order to guarantee the safety and nutritional quality of animal feeds, there is an increasing demand for comprehensive feed testing services as Latin American nations concentrate on raising agricultural productivity and competitiveness.
Key players in the market
Some of the key players in Feed Testing market include Eurofins Scientifics, Neogen Corporation, AES Laboratories, NSF International, R J Hill Laboratories Ltd, Invisible Sentinel Inc., Adpen Laboratories Inc., Bureau Veritas SA, Genon Laboratories Ltd., Intertek Group Plc, Dairyland Laboratories, SGS SA, Romer Labs Inc., IEH Laboratories and Silliker Inc.
In March 2024, Intertek announced an agreement to acquire Base Metallurgical Laboratories and Base Met Labs US on Monday, which provide metallurgical testing services within the minerals sector in North America, for an undisclosed sum. The AIM-traded firm said the acquisition came ahead of expected heightened demand for diverse energy sources and minerals to sustain a growing global population.
In December 2023, Eurofins Scientific, a global leader in agroscience contract research services, announces the signing of an agreement to acquire the operations of SGS Crop Science in 14 countries. The business generated revenues of approximately CHF 46m in 2022. The transaction is subject to consultation with SGS Crop Science's local stakeholders as required by the local jurisdictions and is expected to close in the coming months.
In April 2023, Neogen Chemicals Ltd., a manufacturer of Bromine-based, and Lithium-based specialty chemicals, said it has signed an agreement with MU Ionic Solutions Corporation (MUIS), Japan, to acquire manufacturing technology licence for production of electrolytes in India. MUIS is a joint-venture between Mitsubishi Chemical Corporation (MCC) and UBE Corporation, a group company of The Mitsubishi Chemicals Group.