The global forage analysis market was valued at USD 494.4 million in 2017; this is projected to grow at a CAGR of 5.1% from 2018, to reach USD 661.1 million by 2023. The objectives of the report are to define, segment, and estimate the size of the global market. Furthermore, the market has been segmented on the basis of forage type, target, livestock, method, and region.
The report also aims to provide detailed information about the crucial factors influencing the growth of the market, strategical analysis of the micro markets, opportunities for stakeholders, details of the competitive landscape, and the profiles of the key players with respect to their market share and competencies.
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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 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 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.
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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).
