661 Million Forage Analysis Market - Global Forecast to 2023: Rise in Demand for High-Quality Forage, Mandatory Analysis of Feed Quality, and Safety Among Farmers
DUBLIN, Sept. 19, 2018 /PRNewswire/ --
The "Forage Analysis Market by Target, Livestock, Method, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The forage analysis market is projected to reach USD 661.1 million by 2023, from USD 515.5 million in 2018, growing at a CAGR of 5.1%.
The major driving factor for forage analysis is the rise in demand for high-quality forage, mandatory analysis of feed quality, and safety among farmers and manufacturers for the growth and development of livestock.
Based on the forage type, the forage analysis market has been segmented into hay, silage, and ration. The ration segment dominated the market in 2018, and this trend is projected to continue through the forecast period from 2018 to 2023. Ration is the most frequently used forage for in-house dairy cows and equine. A healthy ration should be highly rich in proteins, minerals, vitamins, carbohydrates, and fat. Hence, it is important to analyze the nutrient level of ration.
On the basis of livestock, the forage analysis market has been segmented into cattle, equine, and sheep. The cattle segment dominated the global forage analysis market in 2018. Cattle are the major source of end-use products such as milk and meat. Quality forage helps to improve forage conversion and absorption and strengthens the immune system of animals . Therefore, to attain quality livestock products, farmers and companies are focusing on forage analysis.
On the basis of target, the forage analysis market has been segmented into nutrients, mycotoxins, dry matter, and others. The nutrients segment dominated the global forage analysis market in 2018. Nutrients are essential, as they play an important role in optimizing the growth and performance of livestock. Different types of tests are performed to test the nutrient levels in forage. Therefore, manufacturers and farmers are increasingly conducting forage analysis in order to provide the required level of nutrients to livestock.
North America is projected to account for the largest share of the global forage analysis market by 2023 , owing to the presence of a large number of forage analysis laboratories and awareness regarding animal nutrition among farmers and forage manufacturers. The key players in the region are Cargill (US) and CVAS (US). Asia Pacific is projected to be the fastest-growing region in the global forage analysis market during the forecast period, owing to the rising demand for quality dairy and meat products as well as the expansion of the forage industry in this region.
However, lack of awareness among farmers and forage manufacturers in the developing countries are also some of the major factors restraining the growth of the forage analysis market, globally. Developing regions, with the lack of infrastructure, do not offer a proper environment to conduct tests. Thus, lack of awareness, coupled with the rise in the price of the forage as a result of testing, is hindering the growth of the forage analysis market in countries such as India, Vietnam, and Kenya.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Forage Analysis Market
4.2 Forage Analysis Market, By Key Countries
4.3 Forage Analysis Market, By Forage Type, 2018-2023
4.4 Forage Analysis Market, By Target & Region, 2017
4.5 Asia Pacific Forage Analysis Market, By Country & Livestock, 2017
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rise in Demand for High-Quality Forage
5.2.1.2 Mandatory Analysis of Feed Quality & Safety
5.2.1.3 Outbreak of Livestock Diseases
5.2.1.4 Customized Testing Services Have Emerged as Cost & Time-Effective Solutions
5.2.2 Restraints
5.2.2.1 Lack of Awareness Among Farmers and Forage Manufacturers
5.2.3 Opportunities
5.2.3.1 Emerging Markets and Untapped Regions Offer Potential Scope for Market Growth
5.2.3.2 Risk of Forage Contamination
5.2.4 Challenges
5.2.4.1 Lack of Basic Supporting Infrastructure
5.3 Organization/Regulatory Bodies Governing the Forage Analysis Market
5.3.1 Federal Food, Drug, and Cosmetic Act (FFDCA)
5.3.2 Center for Veterinary Medicine (CVM)
5.3.3 Regulation (EC) No. 1831/2003
5.3.4 Bureau of Indian Standards (BIS): Livestock Feeds, Equipment and Systems Sectional Committee (FAD5)
6 Forage Analysis Market, By Method
6.1 Introduction
6.2 Physical Method
6.3 Chemical Method
6.3.1 Wet Chemistry
6.3.2 NIRS (Near-Infrared Reflective Spectroscopy)
7 Forage Analysis Market, By Target
7.1 Introduction
7.2 Nutrients
7.2.1 Vitamins
7.2.2 Minerals
7.2.3 Fibers
7.2.4 Crude Protein
7.2.5 Total Digestible Nutrients
7.3 Mycotoxins
7.4 Dry Matter
7.5 Others
8 Forage Analysis Market, By Forage Type
8.1 Introduction
8.2 Hay
8.3 Silage
8.4 Ration
8.4.1 Grass
8.4.2 Legumes
8.4.3 Others
9 Forage Analysis Market, By Livestock
9.1 Introduction
9.2 Cattle
9.3 Equine
9.4 Sheep
10 Forage Analysis Market, By Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 France
10.3.3 UK
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 Rest of Asia Pacific
10.5 Rest of the World (RoW)
10.5.1 South America
10.5.2 The Middle East
10.5.3 Africa
11 Competitive Landscape
11.1 Overview
11.2 Key Strategies
11.3 Market Ranking
11.4 Competitive Scenario
11.4.1 Expansions
11.4.2 Acquisitions
11.4.3 Collaborations, Agreements, and Partnerships
11.4.4 New Product/Service Launch
12 Company Profiles
12.1 SGS
12.2 Eurofins Scientific
12.3 Intertek
12.4 Cargill
12.5 CVAS
12.6 R J Hill Laboratories
12.7 Dodson & Horrell
12.8 Cawood Scientific
12.9 Servi-Tech
12.10 Dairyland Laboratories
12.11 Dairy One
12.12 Minnesota Valley Testing Laboratories
12.13 Massey Feeds
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