PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378042
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1378042
The animal feed testing services market is expected to grow at a CAGR of 4.52% to reach a market size of US$1.823 billion by 2028.
The animal feed testing services market is anticipated to grow at a steady pace throughout the forecast period. Feed testing reduces the contamination level of the ingredients and helps in improving the overall health of animals. The increasing number of animal infections and diseases along with technological advancements are expected to propel the growth of the animal feed testing services market. Moreover, the government's strict regulations for animal feed standards endanger the situation of animal demands for animal feed testing services thereby increasing the market size.
Animal health is crucial just as human health. The growing concern for animal health among livestock owners, government, and farmers is expected to drive the animal feed testing market. It has been shown for a long time that animals are easily infected through contaminated food for instance a study conducted by UK workers in 1948 showed the infection of non-typhi serotypes to chicks through feed contaminated by rodents. This growing animal health concern coupled with increasing demand for quality animal feed is anticipated to drive the animal feed testing services market.
The owners and trainers of animals are now aware of the nutrition needed by their animals. Various resources are there that help to get information about animal nutrition. For instance, the Oregan State University released a guide to principles of animal nutrition and the UN FAO released the Animal Production and Health Manual which provides quality assurance in feed analysis laboratories. Moreover, the companies are introducing an awareness scheme for enhanced animal nutrition accredited with certified testing and its benefits. All these efforts leading to increased awareness are expected to drive the growth of animal feed testing services market size.
The earth's population is growing consequently the connection between humans and animals is increasing. Human health is strongly connected with animal health for example the cause for more than half of the human infections are animal-transmitted viruses or bacteria like rabies and salmonella. According to the Economic Times, more than two billion people are affected by zoonotic disease annually causing nearly two million deaths worldwide. Humans are dependent on animal products for most of their intake and in developing countries like India, almost 70% of the population is engaged in the farming and agriculture sector having daily interaction with animals. The connection between animal health and human health raises a need for food testing to prevent animal diseases and it is expected to aid the animal feed testing services market.
The governments of the majority of countries have established regulatory standards and guidelines for animal feed. For instance, in the USA, animal food must be approved as Generally Recognized as Safe (GRAS) or by the Association of American Feed Control Officials (AAFCO). In Europe, regulation number 1831/2003 sets a guideline to be followed for pre-market approval of feed additives. In Canada, all animal feed must be approved by the Canadian Food Inspection Agency (CFIA). These stringent guidelines and regulations set the requirement for animal feed testing services and it is expected to boost the market size during the forecasted period.
The market potential of animal feed testing services during the forecast period is imperative thereby providing a great opportunity for the new entrants. Improved technological developments and continuous innovation can be the focus area for the market players. Moreover, sustainable testing techniques by reducing the negative environmental impact is another major factor to be considered. The increasing food trade and globalization with lenient economic regulations give rise to an opportunity to enter the animal feed testing services market.
Based on the geography, North America is expected to contribute a significant market share in the animal feed testing services market. The major factors attributed to this share and growth can be the rising awareness among American livestock producers, increasing rodent diseases, and their effect on human health. Moreover, the major testing companies are located in the region such as Neogen Corporation, Charm Sciences, and others which will further help in the market growth of animal feed testing services.