Asia Pacific Feed Testing Market - Growth, Trends and Forecasts (2020 - 2025)

The Asia pacific feed testing market is projected to register a CAGR of 7.4% during the forecast period 2020-2025. Owing to the rising awareness about meat safety across the world, the feed testing market has witnessed a high demand in the region. The regulatory bodies have been implementing several feed testing regulations to manufacture safe feed of high quality, using good manufacturing practices (GMP), good agriculture practices (GAP), and hazard analysis critical control point (HACCP) systems.

Key Market Trends

Increasing Government Regulations Over Quality Feed

Primarily, the feed testing market in the region is driven by the raising concerns such as the increasing number of animal diseases caused due to intake of contaminated feed. The market is further expanded by the growing safety standards put up by the governments in countries like China, Australia, India, and others. With stringent regulations in regard to food and safety, feed testing has become an integral part of the feed market with growing disease outbreaks among the animals. Governments coming up with various associations like Food Safety and Standards Authority of India (FSSAI), Bureau of Indian Standards (BIS) in India, The State Food and Drug Administration (SFDA) in China to check the standards for the feed in their respective countries, making the feed testing mandatory has boosted the market in the region. The market is let down by huge initial setup costs involved. The major players in the market have invested a lot of capital upfront and are also planning to expand so as to tap the potential opportunities available like the expanding technological advances and also the evolving analytical techniques. The developing nations are expected to provide more opportunities as the market is slowly gaining momentum, after considerable time lag owing to a lack of awareness regarding feed safety standards. As the demand for meat and meat product increase in the region, more regulations are brought up by the respective governments over the supply of quality meat to the consumers which henceforth drives the feed testing market in the region.

Increased Feed Production

The consumption of contaminated feed has been responsible for the outbreak of several illnesses such as bovine spongiform encephalopathy (BSE). The contamination of feed can occur due to contaminated raw materials, exposure to contaminated water, improper handling, and inefficient treatment of the ingredients during production and packaging. Feed products have been contaminated by pathogens, toxins, genetically modified products, pesticides, and other contaminants such as allergens and chemical residues. Presently, there is an increasing demand for animal-sourced products, such as meat, eggs, and milk, when compared to plant-originated foods, such as cereals. The demand for these animal products requires compound feed additives to boost their production, thereby, stimulating the compound feed growth in the animal feed market. The stringent regulation in the usage of certain feed additives in compound feed and the high cost of supplements is restraining the market growth and Hence the feed testing market is anticipated to perform well during the forecast period to meet the increasing demand for meat and meat products in the region.

Competitive Landscape

The Asia pacific feed testing market is consolidated with the top global players occupying a large market share. The companies active in the market are increasingly focusing on developing new services to keep pace with the changing government regulations. The major players in the market are SGS SA, Intertek Group PLC, Eurofins Scientific, and Bruker Biosciences Corporation, among others.

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