According to the new market research report "Forage Analysis Marketby Target (Nutrients (Vitamins, Minerals, Crude Protein, Fiber, and TDN), Dry Matter, and Mycotoxin)), Livestock (Cattle, Equine, and Sheep), Forage (Ration, Hay, and Silage), Method (Wet Chemistry and NIRs), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the global market is estimated at USD 515.5 million in 2018 and is projected to reach USD 661.1 million by 2023, at a CAGR of 5.1% during the forecast period. The market is driven by factors such as outbreak of livestock diseases and customized testing services that have emerged as cost & time effective solutions. The use of quality forage directly results in increased immunity and health of the livestock. Therefore, farmers and forage manufacturers focus precisely on the quality of forage.
The cattle segment, by livestock, estimated to account for the largest market share in 2018.
The cattle segment is estimated to dominate the global Forage Analysis Market in 2018. Forage quality has a direct impact on cattle's performance. The quality of end-use products, such as milk and meat, depends not only on the quality of the forage used but also on the efficiency and precision of the feeding process. Thus, to attain a quality livestock product, farmers and companies are focusing on forage analysis in order to feed their cattle with healthy and nutritious forage, while also ensuring that the animals are protected against potential diseases.
The nutrients segment, by target, is estimated to hold the largest market share in 2018.
Nutrients include vitamins, minerals, fiber, crude protein, and total digestible nutrients. Currently, animal health is one of the major concerns in the livestock industry. Thus, the manufacturers and farmers are increasingly focused on forage analysis in order to provide the required level of nutrients to livestock. Different types of tests are performed to understand the nutrient levels in the forage.
The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period. Livestock farming is an important source of income in most of the developing countries such as India and Indonesia. However, the demand for forage analysis in Asia Pacific is driven by the rising demand for quality dairy and meat products as well as the expansion of the forage industry in this region to meet growing commercialization of the dairy industry.
This report includes a study of forage analysis, along with the product portfolios of leading companies. It includes the profiles of leading companies such as SGS (Switzerland), Eurofins Scientific (Luxembourg), Intertek (UK), Cargill (US), and CVAS (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Shelly Singh MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: email@example.com