The increasing demand for animal feed and the requisite to ensure its quality and safety is consequently creating lucrative opportunities in the India animal feed safety testing equipment market. It is apparent that quality of animal feed is not only a prominent factor for the welfare and health of animals, it is also crucial for food quality and safety and consequently to the economic success of the entire agricultural industry. Moreover, animal feed plays a key role in enhancing the socio-economic conditions of rural masses. But the improper quality and contamination of animal feed will lead to the incidence of foodborne diseases such as Aflatoxicoses, Pestedes Petits Ruminants, and Brucellosis, to name a few. The prevalence of the aforementioned diseases is considered to be the main obstacle to the increase in the production of livestock and poultry.
The India animal feed safety testing equipment market size was valued at 408 million in 2018. Furthermore, the demand for testing equipment is poised to propel with a standard CAGR of 6.7% during the forecast period 2019-2025.
Demand for Animal Feed Fortifying the India Animal Feed Safety Testing Equipment Market—
The rapidly growing population in India is creating a strong demand for animal proteins and dairy products such as eggs, meat and milk. According to the United Nations Population Fund, India’s population increased at an average rate of 1.2% year on year between 2010 and 2019. For instance, owing to the population growth, meat consumption in India increased from 4.6 million tons in 2017 to 5.7 million tons in 2018, according to the Organization for Economic Co-operation and Development (OECD). Moreover, fluid milk consumption in India was around 67.7 million tons, in 2018, which was an increase of 4% over 2017, according to the United States Department of Agriculture (USDA).
The perpetual rise in the consumption of food products from animals has resulted in a growing livestock population. The increase in livestock population can be fathomed by statistics by USDA, according to which the cattle and water buffalo population in India, in 2019, is estimated to reach 306.4 million from 305 million in 2018. The rise in the livestock population has consequently accelerated the demand for animal feed, which has created both opportunities and challenges for feed safety and quality in the animal feed industry. This, in turn, is augmenting the India animal feed safety testing equipment market.
Cattle Segment to Grow at Highest Pace
The cattle segment of the India animal feed safety testing equipment market is considered to be the key segment that is anticipated to propel at the highest growth rate. This is mostly attributable to the increasing cattle population and the increasing consumption of cattle derived food products. According to the Food and Agriculture Organization, the cattle population in India increased from 185 million in 2015 to 186 million in 2016. This, in turn, is propelling the demand for cattle feed. Consequently, the hefty demand for cattle feed is providing impetus for the procurement of feed safety testing equipment to test the safety and quality of the feed. Therefore, the key application segment is poised to propel at a standard CAGR of 7.7% through to 2025.
India Animal Feed Safety Testing Equipment Market Players
Prominent companies that are striving to gain a major share in the India animal feed safety equipment market are HID Global Corp., Omnia Technologies Pvt. Ltd., Murray Farmcare Ltd., Bob-White Systems, Inc., Pearson International LLC, Afimilk Ltd, Cal Tag, Inc., and Allflex Australia Pty Ltd.
These companies are continuously investing in R&D activities to introduce new innovative products. They are involved in adopting business strategies such as mergers, acquisitions, collaborations, and partnerships to strengthen their presence in the market and build their brand name.
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare
Mr. Venkat Reddy
Contact Sales: (+91) 40-485-49062