Forage analysis market is projected to grow at a CAGR of 6% to reach US$600.066 million by 2024, from US$422.915 million in 2018. Forage analysis is a study to determine the content, quality, and suitability of forage given to the livestock. The rising demand for high-quality forage is the major driver of the forage analysis market. Growing global demand for livestock products has boosted the demand for high-quality forage which is positively impacting the growth of the forage analysis market. Strict regulations regarding feed analysis and its quality are also supporting the growth of the forage analysis market. However, factors such as lack of awareness among farmers and forage manufacturers and lack of proper infrastructure are restraining the growth of the forage analysis market.
This research study examines the current market trends related to demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases, and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the Forage Analysis value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining a faster and efficient understanding of the Forage Analysis market.
Major industry players profiled as part of the report are Cargill, Incorporated, SGS SA, Dodson & Horrell, Eurofins Scientific, and Dairyland Laboratories Inc. among others.
|Market size value in 2018||US$422.915 million|
|Market size value in 2024||US$600.066 million|
|Growth Rate||CAGR of 6% from 2018 to 2024|
|Forecast Unit (Value)||USD Million|
|Segments covered||Target, Method, Livestock, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Cargill, Incorporated, SGS SA, Dodson & Horrell, Eurofins Scientific, Dairyland Laboratories Inc., Massey Feeds, DAIRY ONE, Sciantec Analytical, CVAS, Inc., Servi- Tech, Inc.|
|Customization scope||Free report customization with purchase|
The Forage Analysis market has been analyzed through the following segments:
NIR (Near-Infrared Reflectance)
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What will be the forage analysis market size by 2024?
A1. The forage analysis market is projected to reach a total market size of US$600.066 million by 2024.
Q2. What is the size of global forage analysis market?
A2. Forage Analysis market was valued at US$422.915 million in 2018.
Q3. What are the growth prospects for the forage analysis market?
A3. The global forage analysis market is projected to grow at a CAGR of 6.0% during the forecast period.
Q4. What factors are anticipated to drive the forage analysis market growth?
A4. Rising demand for high-quality forage is the major driver of forage analysis market.
Q5. Who are the major players in the forage analysis market?
A5. Major industry players profiled as part of the forage analysis market report are Cargill, Incorporated, SGS SA, Dodson & Horrell, Eurofins Scientific, and Dairyland Laboratories Inc. among others.